LetsBonk.fun Surges 54% Market Share as Pump.fun Drops 36%

Solana’s meme coin launchpad, Pump.fun, has experienced a significant decline in its market share, which has been captured by LetsBonk.fun. This shift comes just before Pump.fun’s token generation event, where the launchpad aims to raise up to $4 billion.

According to a post on X, Pump.fun’s market share has dropped to a new all-time low of 36%, while LetsBonk.fun’s market share has surged to 54%. This development is supported by data from Jup, which shows LetsBonk.fun with a market share of 48.90% and a 24-hour trading volume of $539 million. In contrast, Pump.fun holds a market share of 39.80% with a 24-hour trading volume of $438 million.

This decline in Pump.fun’s dominance coincides with its proposed public token sale, scheduled for July 12. A well-known Solana influencer, Lynk, has described this token sale as the “final scam” for the meme coin launchpad. The platform has faced heavy criticism for extracting a substantial amount of money from the Solana ecosystem without providing any incentives to community members.

Some community members had anticipated that Pump.fun would airdrop its token to reward platform users instead of conducting a public token sale. Lynk shared details of the public sale, revealing that Pump.fun plans to sell ‘PUMP’ tokens at $0.004 each. With a total supply of 1 trillion tokens, this implies a fully diluted value (FDV) of $4 billion. However, Pump.fun aims to raise around $600 million from the public token sale, as only $150 billion tokens will be available. The meme coin launchpad is also expected to conduct a private sale to complete its $1 billion capital raise effort.

Crypto influencer Unipcs, also known as ‘Bonk Guy,’ opined that while Pump.fun is not finished, LetsBonk.fun is likely to continue dominating the industry for the foreseeable future. He cited several reasons for this belief, including LetsBonk’s alignment with the Solana ecosystem and its strong culture of support within the BONK ecosystem.

Bonk Guy also noted that Pump.fun had significant momentum as a tokenless protocol, especially with its upcoming token generation event. However, LetsBonk.fun managed to surpass Pump.fun during this period. He believes it will be challenging for Pump.fun to sustainably recover its previous market share after the token generation event.

Additionally, Bonk Guy suggested that a considerable amount of activity on Pump.fun is inorganic, with many users farming on the platform in hopes of an airdrop. He predicts that this traffic will diminish once the token generation event is over.