Solidus Labs: Up to 98.6% of tokens issued by the Pump fun platform are identified as Rug Pull or "pump and dump" schemes.

According to a report by Solidus Labs, starting from 2024, among the 7 million tokens issued on the Solana chain through the Pump.fun platform, as much as 98.6% were identified as Rug Pull or "pump and dump" projects, with only about 97 thousand projects maintaining liquidity exceeding 1,000 USD. On Raydium, 93% of liquidity pools also exhibited characteristics of soft Rug Pulls. Memecoins are the hardest hit; the TRUMP and MELANIA tokens, promoted by Trump and his wife respectively, plummeted by 87% and 97%, while insider traders profited over 100 million USD. (CoinDesk)