- The “Memescope Monday” coordinated trading event failed to generate significant profits, leaving traders with widespread losses and negative sentiment.
- The event, promoted by influencers like Orangie, increased activity on Pump Fun but was labeled a “mass extraction event” by participants.
- A major security incident saw one trader lose over $90,000 to a drainer during the event.
- Top traders earned only a fraction of previous memecoin profits, with the day’s leader making roughly $24,000.
- The price of Pump Fun’s token saw only a brief 4% bump before continuing its decline, now 81% below its all-time high.
The “Memescope Monday” trading event culminated on Monday, March 30, 2026, after a week of hype from crypto influencers and traders aiming to revive memecoin trading volume. However, the widely anticipated get-together has left the community with a severe case of the Monday blues as losses far outweighed wins.
One key promoter, crypto influencer Orangie, encouraged students to skip school to participate, before deleting the video. The hype initially worked, with data showing an 83% jump in tokens created and Pump Fun’s daily volume increasing by 78%. However, sentiment quickly soured with traders saying memecoins are over and calling the event a “mass extraction event.”
Orangie himself shared that he lost over $3,000 and ended his trading stream after a couple of hours. Analysis noted that the third top trader made only $12,000, a fraction of the $500,000+ profits seen in previous eras. Meanwhile, one trader claimed they lost 1100 SOL, worth roughly $90,000, to a drainer during the chaos.
The platform Pump Fun itself made only a single promotional post ahead of the event, and its token price managed only a 4% bump. Consequently, the event highlighted how inexperienced traders became exit liquidity for more seasoned participants, as was widely predicted beforehand.
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