Every coin we grade comes with a RugCheck report, and that report names the wallet that created the coin. Since 21 October we have kept a record of those creator wallets. Six days in, we can see how much of the market a small group of wallets accounts for, and what happened to their coins.
272 creator wallets launched three or more of the new coins we graded. Together they made 1,770 coins, 23% of the total, and 48% of their coins that are at least a day old collapsed within a day.
Figures as of 09:49 UTC on 27 October 2026. The serial launchers page updates every 30 minutes and counts slightly differently, so its numbers will not match exactly.
Figures reported by others
Before our own numbers, here is the figure that prompted this story. It is not ours, and we have not been able to check its method.
Phemex News reported on 9 October 2026 that, according to data compiled by the analyst Bando, the 25 busiest pump.fun deployer wallets had launched about 770,000 tokens and generated about $128 million, and that only six of their tokens passed a $20 million market cap (Phemex). The article does not say how the $128 million was worked out, and we could not find Bando's original post.
That figure covers every pump.fun launch by those wallets. Ours covers only the coins that reached our scanner, so the two can't be compared directly. They do point the same way: a few wallets make a large share of new coins.
Our numbers: how concentrated is it?
We matched 7,715 new memecoins we graded to 5,976 creator wallets. Most wallets appeared once. A small group appeared again and again. The table counts wallets by how many of our coins each one made.
| Made | Wallets | Their coins |
|---|---|---|
| 1 coin | 5,463 | 5,463 (71%) |
| 3 or more | 272 | 1,770 (23%) |
| 10 or more | 42 | 776 (10%) |
| 50 or more | 3 | 166 (2%) |
The busiest two wallets each launched 58 coins that we graded in six days. Our 25 busiest wallets launched 595 between them.
What happened to their coins
We read every coin once, 24 to 30 hours after launch. "Collapsed" means down 90% or more from the highest price we recorded, or its liquidity pool emptied. "Still trading" means at least $5,000 traded in the last 24 hours with at least $5,000 of liquidity, or still on its launchpad. "Went quiet" is everything in between: still there, but barely traded.
| Made | Collapsed | Still trading |
|---|---|---|
| 1 coin | 29% of 4,295 | 43% |
| 3 or more | 48% of 1,471 | 32% |
| 10 or more | 54% of 672 | 30% |
| Busiest 25 | 53% of 496 | 32% |
Went quiet: 28% of coins from one-coin wallets, and 20% from wallets with three or more.
Part of the gap is stage. Coins already trading on an open pool when we first check them collapse far more often than coins still on a launchpad, and serial launchers had more of those. So we split them by where each coin was when we first checked it. The table shows the share that collapsed within a day, for wallets that made one coin and wallets that made three or more:
| Stage | 1 coin | 3 or more |
|---|---|---|
| Launchpad | 10% of 3,235 | 22% of 968 |
| Open pool | 86% of 1,046 | 98% of 503 |
On both stages, coins from repeat wallets collapsed more often.
How long did their coins last?
Not long. For coins from repeat wallets that collapsed, the highest price we recorded came a median of 8 minutes after launch. The middle half of them peaked between 4 and 33 minutes after launch (707 coins). For collapsed coins from one-coin wallets, the median was 15 minutes (1,233 coins).
The launching was fast too. 189 of the 272 repeat wallets made all of their coins within a single 24-hour window, with a median of 50 minutes between one launch and the next.
Not every repeat wallet looks the same
Of the 220 repeat wallets with at least three coins a day old, 75 saw every one of those coins collapse. But 76 saw none collapse. A wallet that launches often is not, on its own, proof of anything. Some launch tools create coins for many different users from one wallet, and a few people simply try many ideas.
What RugCheck's lists add
For some wallets, RugCheck's report also lists that wallet's other coins, up to 50. Across 507 wallets it named 15,558 other coins. 94% of them had a market cap under $10,000 when RugCheck listed them, and the median was about $2,900. 46 wallets hit the 50-coin limit, so they have made more. RugCheck mostly fills in this list for wallets it already flags for a history of rugged tokens, so this group is not typical of all creators.
Key point: A creator wallet with a long trail of short-lived coins is a pattern you can check before you put money in. It is not proof of anyone's intent, and a first coin from a new wallet can collapse just as fast.
How to check a creator yourself
- Paste the contract address into our rug check. If we have seen other coins from the same creator, the coin page says how many and how many collapsed within a day.
- Open the RugCheck report and look for "Creator history of rugged tokens". It already counts towards our grade.
- Look at the creator wallet on Solscan and check how many tokens it has made, and how recently.
Read pump.fun rug pulls for the other patterns to check. Not financial advice.
What this does and does not show
- We only see part of the market. We check coins with at least $3,000 of liquidity or trading, so most launches never reach us and many wallets have made more coins than we counted.
- It is six days. Our creator record began on 21 October 2026. The figures will change as it grows.
- It describes wallets, not people. We don't know who controls any wallet and we don't try to find out.
- "Highest price we recorded" is not the true peak. We first saw coins a median of about 2 minutes after launch, so the real peak may be earlier and higher.
- We left out established tokens (first seen more than 6 hours after launch, or worth over $10 million when first seen) and SOL, stablecoins, wrapped tokens and tokenised stocks, as on the survivors board.
- No coin had a 7-day reading yet, so this story uses the 24-hour reading only.
How we measured it
The creator wallet is the "creator" field in RugCheck's report on each coin, which we already fetch to grade it. Outcomes come from our own price records, the same ones behind the scorecard. We publish no wallet addresses in this story. The serial launchers page lists wallets with three or more coins in our records, and the full method is on our methodology page.