Solana Meme Tokens: Only 6.25% of Traders Turned a Profit in 90 Days

Meme tokens have become a popular phenomenon in the cryptocurrency space, but according to recent data, only a small fraction of traders are making profits.

In the past 90 days, a total of 304,161 traders were active on Solana DEX, but only 6.25% or 19,003 of them were in the green, with the median trader losing $120.

The biggest problem is that meme token traders are extracting value from the crypto space, with a group loss of $1.26B based on paper valuations. Of all traders in the green, 88% made under $100.

Only 25 Solana meme token traders made more than $10K, showing that the meme space has lost its ability to produce high valuations and is instead a P2P extraction market.