What are the odds: Just 6% of Solana meme traders turned a profit in 90 days

Meme token traders are still active, but only a small handful are making profits. In the past 90 days, meme tokens have mostly extracted value from the crypto space. 

A running metric for meme token traders shows that the past 90 days were profitable for only 6.25% of wallets. A new dashboard for Solana meme token traders shows the trenches are mostly losing money. 

In the past 90 days, a total of 304,161 traders were active on Solana DEX. Of those traders, only 19,003 were in the green, but the median trader lost $120. 

The biggest problem with meme token traders is the overall extraction of value. According to on-chain research, as a group, meme token traders lost $1.26B based on paper valuations. Of all traders in the green, 88% made under $100. 

The metric tracks realized profit and loss, rather than paper valuations from holding tokens. In most cases, meme tokens have low liquidity, even if their market capitalization is high. 

Only 25 Solana meme token traders made more than $10K

Only 25 wallets made more than $10,000 in earnings, showing meme space has lost its ability to produce high valuations and is instead a P2P extraction market. 

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