PumpFun / Meme Coin Extraction Reaching Boiling Point
Multiple sources are highlighting a systemic extraction crisis on PumpFun: 97% of traders lost money in the last 30 days, $43M extracted by the team, $3M+ to bundlers, with growing calls to abandon the platform.
What we know
An account on X details the bundling playbook — KOLs using Jito bundlers to coordinate buys then dump on retail — calling it 'a business plan.' another account on X cites data showing 97% of PumpFun traders lost money in 30 days, $3M+ to bundlers, and $43M extracted by the team, calling for the community to stop feeding the extraction. Another account on X blasts the entire 'trench culture' as a 'perpetual extraction operation' and notes most meme coin traders don't even own BTC. Another account on X flags a same-day large dump: 3 wallets sold 2.9B $PUMP for $12.58M USDC. The $ASTER token was also called out by another account on X for announcing $1.4M in buybacks two days before a $32M token unlock — with another $43M unlock in November.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.