CoinGecko’s latest research found that 73.3% of wallets associated with Pump.fun traders posted realized profits in April 2026. Out of roughly 3.143 million wallets examined, about 2.303 million ended the month in profit. The figure marks a continued rise from 56.8% in February and 70.0% in March, indicating that a larger share of wallets recorded gains in April.
Most Profits Were Relatively Small
The profit distribution shows that around 2.047 million wallets earned between $1 and $500, representing 65.1% of all wallets. By comparison, about 169,000 wallets generated more than $1,000 in profits, accounting for 5.4% of the total. In other words, while profitability was broad, most winning wallets were clustered in the lower profit bands, and only a smaller portion achieved larger gains.
Possible Shift in Trader Composition
CoinGecko suggested the trend may reflect a change in market participation. One explanation is that less experienced traders may have exited, while more seasoned participants returned, lifting the overall share of profitable wallets. Still, this remains an interpretation of the data rather than proof that trading conditions broadly improved for every participant.
Important Limits to the Data
The study also comes with clear caveats. It only measures realized PnL, meaning unrealized gains or losses on open positions were not included. In addition, the dataset does not filter out bot activity or wash trading. As a result, the findings are best viewed as an indicator of wallet-level outcomes within the Pump.fun ecosystem, not a definitive measure of how human retail traders performed overall. The April numbers point to a wider profitability base, but they should still be interpreted with caution.