A “bot army” on Pump.fun accounts for 60-80% of the trading volume of certain tokens to create FOMO and drive up prices, according to researcher Naveen_0505.
Analyst @Naveen_0505 warns that “Proxies,” a bot army on Pump Fun, fakes 60–80% of trading volume in some tokens to create FOMO and pump prices. These bots simulate real activity to lure buyers, but distort markets and signal manipulation. Watch for Proxy farming in sudden meme…
— Wu Blockchain (@WuBlockchain) May 20, 2025
Bots generate fake market activity to attract buyers, but they distort genuine price formation, the expert asserts. He claims this army, which he calls Proxies, is often behind sudden price spikes.
Naveen_0505’s efforts resulted in a dashboard on Dune Analytics.
The algorithm analyzes the following parameters:
- tokens launched on Pump.fun in the last 24 hours;
- wallets exhibiting high-frequency trading behavior in these assets;
- total turnover attributed to such high-frequency traders;
- comparison of total trading volume with the share obtained by this category of participants for individual tokens.
Monitoring revealed that in some cases, bots accounted for up to 60-80% of the turnover of certain “funny coins.” In other words, not all volume reflects real demand.
“This is not organic trading. This is engineered liquidity,” he lamented.
The researcher urged that during each subsequent frenzy, one should question whether a bot army is behind the FOMO. Transparency and data defeat deception and narratives, he concluded.
In May, Blockworks Research suggested a potential decline in Pump.fun’s dominance among Solana launchpads as new players experiment with revenue distribution settings, “bonding curves,” and other mechanisms.
Earlier, CoinGecko identified meme coins as the most popular narrative of the first quarter of 2025.
In early May, mentions of such assets on social media reached their peak in 2025 amid a shift in traders’ interest towards high-risk instruments.