98% of Solana Pump Tokens Are Rug Pulls: Report
Solidus Labs reveals 98.6% of Solana’s Pump Fun tokens in 2024 were scams or manipulative schemes.
- 98.6% of Pump Fun tokens on Solana flagged as rug pulls
- Only 97,000 out of 7 million tokens had >$1,000 liquidity
- Memecoins like TRUMP and MELANIA crashed drastically
Solana’s Pump Fun Under Fire for Widespread Rug Pulls
A recent report by blockchain risk monitoring firm Solidus Labs has exposed shocking statistics about Solana’s “Pump.fun” platform. Since the start of 2024, over 7 million tokens have been launched, but a staggering 98.6% were identified as rug pulls or manipulative schemes.
These tokens—many created as meme coins or speculative plays—often vanish as quickly as they appear, leaving investors with worthless holdings. Only about 97,000 of these tokens had more than $1,000 in liquidity, indicating how little actual capital was behind most launches.
Pump.fun has become a breeding ground for opportunists exploiting retail traders hoping to ride the next meme wave. But as the data shows, most are simply scams dressed in meme branding.
Raydium Pools Also Show Signs of Manipulation
The report didn’t stop at token launches. Solidus Labs also examined liquidity pools on Raydium, one of Solana’s leading decentralized exchanges. Shockingly, 93% of Raydium pools were found to exhibit soft rug pull behavior—a form of exit scam where developers slowly drain liquidity, avoiding immediate detection.
These pools lure investors in with hype and momentum, only for liquidity to disappear, leaving token holders with unsellable or nearly worthless assets. This pattern of manipulation is becoming a systemic issue in the Solana ecosystem, especially within the memecoin sector.
Insider Gains and Memecoin Collapses
Some of the highest-profile tokens in this space—TRUMP and MELANIA—crashed 87% and 97% respectively, demonstrating just how volatile and risky these assets are. Meanwhile, insiders reportedly profited over $100 million, leaving retail investors holding the bag.
This level of manipulation highlights the urgent need for transparency and accountability in token launches and liquidity pools. For now, users are advised to be extremely cautious when engaging with memecoins on platforms like Pump.fun and Raydium.
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