Pump.fun’s top 25 token deployers have cumulatively deployed about 770,000 tokens, taking roughly $128 million from the market—yet among those 770,000 tokens, only 6 ever saw their market cap touch $20 million. The hit rate is under one per thousand.
This ratio suggests one thing: out of 770,000 times creating tokens, at its core it’s contributing to the platform and deployers’ fee schedule—the project’s success is secondary. In those 770,000 attempts, 769,994 times are likely just “running along,” and it’s the liquidity and attention consumed by these “runner-up” attempts that are truly being harvested.
Retail investors see a story of “low-barrier riches.” In reality, they’re participating in a selection game under an almost infinite supply—every additional token emitted further dilutes the probability of finding those 6 “survivors,” a cost that nobody tells you in advance.
The above is only my subjective analysis and does not constitute investment advice.#memecoin🚀🚀🚀 #pump #代币投研
This ratio suggests one thing: out of 770,000 times creating tokens, at its core it’s contributing to the platform and deployers’ fee schedule—the project’s success is secondary. In those 770,000 attempts, 769,994 times are likely just “running along,” and it’s the liquidity and attention consumed by these “runner-up” attempts that are truly being harvested.
Retail investors see a story of “low-barrier riches.” In reality, they’re participating in a selection game under an almost infinite supply—every additional token emitted further dilutes the probability of finding those 6 “survivors,” a cost that nobody tells you in advance.
The above is only my subjective analysis and does not constitute investment advice.#memecoin🚀🚀🚀 #pump #代币投研