ChainCatcher reported that on-chain data analyst obchakevich_ said only a minority of wallets were profitable after reviewing meme-coin holdings on Robinhood Crypto.
Based on the figures shared in the post, nine of the most popular meme coins covered 373,000 unique wallets and 540,000 positions. Another 160,000 positions were tied to random tokens across four launch platforms.
Among the popular tokens, only 41% of wallets were in positive territory, and no group reached the 50% mark. For random tokens, the share of profitable wallets was 36.7% for Noxa, 33.2% for Doppler, and 14.7% for Pons V1.
The post said the typical buyer of a well-known meme coin was down 1.7%, while the typical buyer of a random Pons V1 token was down 67%.
In a set of 355 random tokens with at least 10 buyers, only five left a majority of buyers in profit, equal to 1.4%. obchakevich_ added that a token leaving the bonding curve and moving into a liquidity pool does not mean it becomes a popular asset. On Pons V2, 2% of launches reached that stage, and 36% of those positions were profitable.
By trading activity, about one-third of positions with only one buy and one sell were profitable. Among positions with 51 to 200 trades, 59% were positive. Positions with at least 11 trades made up 14% of the total, but accounted for 89% of realized profits, or $165 million out of $185 million.
The analysis used a Dune query covering the period from June 1 to Oct. 8, 2026. It set a $10 starting threshold for positions and identified traders based on token flows.