---
title: "Pump.fun Data Reveals 38% of Meme Coins Graduate Almost Instantly | MemeBlock"
description: "Pumpdata found 37.9% of Pump.fun graduates completed bonding curves within two slots. Bitquery found 79% traded only on launch day."
last_updated: "2026-11-02"
---

Risks & scams / MEMEBLOCK 
# Pump.fun Data Reveals 38% Of Graduated Meme Coins Hit Graduation Almost Instantly
Pumpdata found 37.9% of graduated Pump.fun tokens filled their bonding curves within two slots of creation, raising questions about early demand.

[A. Nav](/author/a-nav/) · MemeBlock Newsroom November 3, 2026 10 min read 

Pump.fun meme coin graduation statistics showing 38% of graduated tokens completing their bonding curves within the first two slots. Pumpdata research found that 37.9% of Pump.fun tokens that graduated between July and October 2026 completed their bonding curves within the first two slots after creation. 

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Key takeaways 
- Pumpdata reported that 108901 of 3917381 Pump.fun tokens graduated between July 22 and October 31 2026 a rate of 2.78%.

- According to Pumpdata 37.9% of those graduates completed their bonding curves within the first two slots including 24.4% bought out by their own deployer in the creation slot.

- Bitquery found that 79% of Pump.fun tokens in its separate dataset traded only on launch day showing that graduation does not guarantee sustained trading activity.

A significant share of [Pump.fun](https://pump.fun/) tokens that successfully graduated between July 22 and October 31, 2026, completed their bonding curves almost immediately after creation, according to an on-chain investigation by Pumpdata. The research examined 108,901 graduated tokens and found that 37.9% reached graduation within the first two slots, with some curves filled by the deployer alone in the transaction that created the token.

The investigation also found that only 108,901 of 3,917,381 tokens launched during the study period graduated, representing a reported graduation rate of 2.78%. A separate investigation by blockchain analytics firm Bitquery found that 79% of Pump.fun tokens in its longer-term dataset recorded trades only on their launch day. Together, the findings raise questions about what rapid graduation actually demonstrates and whether traders should interpret it as evidence of broad, lasting demand.

## Pumpdata Found That 37.9% of Graduates Completed Their Curves Within Two Slots
According to Pumpdata's investigation, 3,917,381 tokens were launched on Pump.fun between July 22 and October 31, 2026. Of those, 108,901 completed their bonding curves and graduated, producing a reported graduation rate of 2.78%.

The research divided those 108,901 graduations into three categories based on the time between token creation and bonding-curve completion, as well as which wallets made the purchases.

The largest group consisted of tokens that graduated through trading activity over a longer period. Pumpdata counted 67,626 such tokens, or 62.1% of all graduates. These curves involved a median of 37 buyers and took a median of 6.9 minutes to complete.

The other two groups graduated much faster. Pumpdata identified 26,539 tokens, representing 24.4% of graduates, whose deployer bought the entire bonding curve in the token's creation slot. Another 14,736 tokens, or 13.5% of graduates, completed their curves through buying activity involving a median of seven wallets within the creation slot or the next two slots.

Pumpdata's breakdown of graduated tokens

Graduation pattern

Number of tokens

Share of graduates

Deployer bought the entire curve in the creation slot

26,539

24.4%

Multiple wallets completed the curve within the first slots

14,736

13.5%

Curve completed through a longer trading process

67,626

62.1%

Total

108,901

100%

The first two categories together account for 41,275 tokens, or 37.9% of the graduates in Pumpdata's dataset. This is the basis for the finding that more than one-third of graduations happened within the first two slots of creation.

The denominator is important: the 37.9% figure applies to tokens that graduated, not to all 3.9 million tokens launched during the study period.

## How Can a Pump.fun Token Graduate Within Seconds?
To understand the findings, it is important to understand how Pump.fun's bonding-curve system works.

According to Pump.fun's official bonding-curve documentation, every newly launched coin starts trading through a deterministic pricing function based on on-chain reserves. The system does not use a conventional order book. Instead, buys and sells change the reserves and determine the quoted price. Each buy moves the price upward along the curve, while each sell moves it downward.

A token graduates when its market capitalisation on the bonding curve reaches the protocol's graduation threshold. Pump.fun's documentation states that the curve then closes and its liquidity migrates to PumpSwap. The migration is automatic under the documented mechanism.

This process explains how a token can graduate very quickly. The bonding curve does not require a coin to remain active for a minimum number of minutes or attract a large, independent community before it can reach the threshold. What matters for the mechanism is whether enough buying activity completes the curve.

Pumpdata's research reports that the full curve required 85.01 SOL in each of the two rapid-graduation categories it measured. In the deployer-led group, the deployer's wallet supplied that amount through the purchase that completed the curve in the creation slot.

The system therefore allows a token to reach the graduation threshold almost immediately. That is a feature of how the mechanism operates; the timing alone does not establish whether the activity was legitimate, coordinated or intended to mislead buyers.

## One in Four Graduated Tokens Was Bought Out by Its Own Deployer
One of the most significant findings in Pumpdata's investigation concerns the deployer-led graduation pattern.

The research identified 26,539 tokens in which the deployer's wallet bought the entire bonding curve in the same slot as token creation. That represented 24.4% of all graduations in the study period. Pumpdata reported that the purchase involved 85.01 SOL and that the deployer was the sole buyer completing the curve.

This pattern is materially different from a token whose curve fills through purchases from a wider group of traders. In the deployer-led cases, the transaction record shows that the wallet responsible for launching the token also supplied the buying activity needed to complete its curve.

However, that observation does not establish the deployer's real-world identity, motivation or eventual plans for the token. A deployer purchasing its own token could have different explanations, and the transaction record alone does not prove an intention to deceive buyers.

Pumpdata also examined deployer histories. Among wallets that launched only one token during the study period, 69.0% of their graduates completed within the first two slots. For deployers with 100 or more launches, the equivalent share was just 1.7%.

That difference suggests that rapid graduation was more common among one-token deployer wallets in this dataset than among high-volume launchers. It does not, by itself, identify who controlled those wallets or prove that they were created for fraudulent purposes.

## Seven Wallets Could Be Enough to Complete Another Group of Curves
Pumpdata identified a second rapid-graduation pattern involving multiple buyers rather than the deployer completing the curve alone.

This category included 14,736 graduated tokens, representing 13.5% of the study's graduates. Pumpdata reported a median of seven distinct wallets buying on the bonding curve before completion. In this category, the deployer was not the wallet making the completing purchase.

The research also identified repeated activity by some wallets. According to Pumpdata, 5,115 different wallets made the completing buy in this category. Ninety-one wallets completed the curves of at least 10 different deployers, accounting for 8,993 tokens between them. One wallet was recorded as completing 1,362 tokens associated with 1,362 different deployers.

These findings demonstrate that a token's bonding curve can be completed through a small group of wallets very soon after creation. They also raise questions about the degree of independence behind some early buying activity.

But repeated participation does not automatically prove that the wallets were controlled by the same person, coordinated as a single group or acting with fraudulent intent. Blockchain records identify wallet activity and transactions. They do not automatically reveal the real-world identity of wallet owners or the relationships between them.

## Bitquery Found That 79% of Pump.fun Tokens Traded Only on Launch Day
The speed of graduation is only one part of the wider market picture. A separate investigation by Bitquery examined Solana token activity from November 1, 2025, to October 7, 2026, and found that 79% of Pump.fun tokens in its dataset recorded trades only on their launch day.

Bitquery's investigation covered 8,984,141 Pump.fun tokens that traded during its measurement period. It reported that only 1.5% of those tokens recorded at least one trade in their fifth week, while just 0.2% recorded 10 or more trades during that week.

The finding points to a significant difference between a token reaching a launch milestone and maintaining trading activity afterwards. Graduation means that a token's bonding curve has completed and its liquidity has migrated to a trading pool. It does not guarantee that buyers will continue trading the asset, that new participants will arrive or that a lasting market will develop.

The Bitquery and Pumpdata studies use different measurement periods and methodologies. Pumpdata examined token creation and graduation timing between July 22 and October 31, 2026. Bitquery examined a much longer period and measured whether tokens continued trading after launch day. Their figures should therefore be treated as separate findings rather than combined into a single dataset.

## Does Graduation Prove Genuine Community Demand?
No. Graduation confirms that a token reached the bonding-curve threshold under Pump.fun's mechanism. It does not independently prove that a broad community supports the project or that demand will continue.

The distinction is especially important when the curve is completed by one wallet or a small number of wallets. In those situations, the graduation milestone can be reached without the kind of broad participation that traders might assume when they see a token described as successfully graduated.

Even a token that graduates through multiple wallets is not automatically supported by an independent community. The number of wallet addresses does not reveal the number of people involved. One person may control multiple wallets, and a wallet may also belong to a trading service or automated system.

Pumpdata's findings provide evidence about the timing and distribution of on-chain purchases. They do not establish the identities behind those purchases or prove that every rapid graduation involved coordinated manipulation.

Likewise, Bitquery's finding that 79% of Pump.fun tokens in its dataset traded only on launch day does not mean every such token was a scam. It means those tokens did not record another trade after their launch day within the study's measurement framework. Trading inactivity is not, by itself, proof of fraud.

## What Should Meme Coin Traders Check Before Buying?
For traders, the findings suggest that graduation should be treated as one data point rather than a complete assessment of a token.

The first question is how the bonding curve was completed. Pumpdata's research shows why the identity and number of purchasing wallets can matter: a curve bought out by the deployer is structurally different from one completed by a larger group of buyers.

The second question is whether activity continues after graduation. Bitquery's investigation shows that launch-day trading does not necessarily translate into ongoing market activity. A token's trading history after migration can therefore provide information that the graduation label alone cannot.

Traders should also distinguish between wallet addresses and independent participants. A displayed count of buyers or holders does not establish how many separate people are involved. Reviewing the distribution of purchases, deployer history and subsequent trading activity can provide a more complete picture, although none of these checks guarantees that a token is safe.

Finally, traders should not treat a rapid graduation as proof of a scam—or as proof of success. The transaction pattern is evidence of how the curve was filled. Determining whether the activity involved manipulation, deception or legitimate trading requires additional evidence beyond timing and wallet counts.

## What the Investigations Reveal About Pump.fun's Graduation System
Pumpdata's investigation shows that rapid graduation was a substantial pattern among the tokens that successfully completed their bonding curves during the study period. Of 108,901 graduates, 37.9% reached the threshold within the first two slots, including cases where the deployer bought the entire curve and cases involving a median of seven wallets.

Bitquery's separate research adds a longer-term perspective: most Pump.fun tokens in its dataset did not record trades beyond their launch day.

Together, the investigations highlight an important distinction in meme coin markets. A token can be created, traded, graduate and migrate to PumpSwap within a very short period, yet none of those events guarantees that a sustainable market or independent community will emerge.

For traders, the central lesson is to look beyond the graduation label. The way a curve was completed, the wallets involved and the token's activity after migration all matter when assessing what a graduation actually represents.

## Evidence Limitations
Pumpdata's investigation recorded 108,901 Pump.fun tokens that graduated between July 22 and October 31, 2026. According to its findings, 37.9% completed their bonding curves within the first two slots after creation. This included 26,539 deployer-led graduations and 14,736 graduations involving a median of seven wallets. These are recorded on-chain observations classified using Pumpdata's methodology.

However, the available blockchain data does not establish the real-world identities of the wallets, whether multiple wallets shared the same owner, or whether the buyers coordinated their transactions. The number of wallet addresses involved cannot be treated as the number of independent people.

The findings also do not confirm wash trading, market manipulation, fraudulent activity or deliberate attempts to mislead investors. Similarly, rapid graduation does not establish genuine community demand or independent investor interest.

Bitquery separately reported that 79% of Pump.fun tokens in its dataset traded only on launch day. Its research covered November 1, 2025, to October 7, 2026, and used a different dataset and methodology. This finding cannot be directly combined with Pumpdata's graduation statistics or used to determine how many rapidly graduated tokens subsequently became inactive.

What the evidence cannot establish: The available research cannot prove that rapid graduation is fraudulent, that participating wallets were controlled by the same person, that buyers acted together, or that graduation guarantees sustainable trading demand. It also does not establish a causal relationship between rapid graduation and a token's subsequent inactivity.

Sources & further reading 
- [https://pumpdata.fun/research/pump-fun-launch-to-graduation](https://pumpdata.fun/research/pump-fun-launch-to-graduation)

- [https://bitquery.io/investigations/solana-launchpad-year](https://bitquery.io/investigations/solana-launchpad-year)

- [https://pumpdata.fun/methodology](https://pumpdata.fun/methodology)

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