Pump.fun is breaking records in terms of user activity, token creation, and revenue, but profitability for traders remains elusive.
Pump.fun, a leading meme token generator on Solana SOL $204.3 24h volatility: 3.8% Market cap: $110.53 B Vol. 24h: $4.97 B , had an explosive August in terms of user activity and token creation.
Yet, the PUMP token’s price continues to trade sideways, leaving many wondering when, or if, the long-awaited rally will arrive.
Record Growth, Record Losses
According to crypto researcher Defioasis, Pump.fun saw over 1.3 million active addresses in August, cementing its dominance as the leading Solana launchpad.
在 8 月，Pump Fun 重夺 Solana Launchpad 龙头之位，当月创建了 595,034 种新代币，有 1,349,616 个地址参与了这些新代币的交易（仅含有买且有卖的地址）
然而，所有交易者整体亏损了高达 6,600 万美元，且没有创造出任何一个百万富翁，链上地狱级不为过
– 依旧是超过 60%… pic.twitter.com/7gxsYIf2Ho
— defioasis.eth (@defioasis) September 1, 2025
The platform also created an astounding 595,000 new tokens last month, more than any of its rivals. This increase in activity helped Pump.fun reclaim its top spot with a 46.6% market share, far outpacing competitors like LetsBonk, which only captured under 9%.
Breakdown of Numbers
However, the numbers also reveal a troubling pattern. Despite all the trading activity, users lost a collective $66 million in August.
More than 60% of traders ended the month in the red, with the vast majority (65.4%, or about 882,000 wallets) losing between $0 and $1,000 each.
While the average loss of $73.41 per wallet might seem minor, the scale of participation meant that small retail traders collectively bore the brunt of losses, amounting to more than $64 million.
On the other hand, profits were far more modest. Around 416,000 wallets saw small gains of under $1,000, 18,000 wallets made between $1,000 and $10,000, and only 1,665 traders ended the month with more than $10,000 in profits.
Notably, no trader crossed the $1 million mark in earnings for August.
Buybacks Provide a Safety Net
Pump.fun has been actively supporting its token with aggressive buybacks. In August alone, the platform repurchased $58.7 million worth of PUMP tokens, bringing its lifetime buybacks to over $66.6 million.
These buybacks absorbed more than 17.5 billion PUMP tokens at an average price of $0.003765, easing selling pressure but not yet igniting a breakout rally.
The buybacks coincide with the project’s massive revenue machine. Pump.fun has now surpassed $800 million in lifetime fees, primarily from its 1% swap fee on token trades.
PUMP Price Analysis: Consolidation Ahead of a Break?
Looking at the 3-hour PUMP/USD chart, the token is trading around $0.003428, forming a symmetrical triangle pattern, a classic setup that suggests an imminent breakout.
If PUMP breaks above the descending resistance line near $0.0035–$0.0036, momentum could carry it toward the $0.0042 level, with further upside possible toward $0.005 if volume supports the move.
The platform’s ongoing buybacks strengthen the bullish case by creating a demand cushion.
PUMP price action with momentum indicators. | Source: TradingView
However, a failure to hold above $0.0033 could see PUMP retest support around $0.0030, and a breakdown below this level might extend losses toward $0.0025. Nevertheless, the token remains a top crypto to buy in 2025.
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