Pump.fun Surpasses LetsBonk.fun in Token Creation Amid Strategic Buybacks

Pump.fun has reclaimed the top spot in Solana-based memecoin token launches, with 13,690 tokens created within a single 24-hour period. This outpaced its rival, LetsBonk.fun, which launched 13,392 tokens over the same timeframe [1]. While the platform regained leadership in token creation, it still trails in daily trading volume, with Pump.fun logging $82.4 million compared to LetsBonk.fun’s $87.7 million [1].

The resurgence of Pump.fun follows a strategic buyback operation initiated after the volatile performance of its native token, PUMP. On-chain data suggests that the platform committed to a multimillion-dollar repurchase plan, which appears to have stabilized the token's value. Over the last seven days, PUMP has gained 39.5%, trading at $0.00342 [1]. However, this remains 49% below its peak of $0.006812 recorded shortly after the platform’s initial coin offering [1].

Vincent Liu, CIO of Kronos Research, noted that Pump.fun’s deeper liquidity and historical presence have contributed to its renewed momentum. He also emphasized that LetsBonk.fun continues to benefit from strong community support and a strategic partnership with Raydium’s LaunchLab. The latter platform uses a portion of its fees to buy and burn BONK tokens, further enhancing Solana-based liquidity [1].

Technically, PUMP’s price has broken through a key resistance level at $0.00326, completing a triple-bottom formation and crossing back above its 7-day moving average [1]. This has signaled a potential short-term bullish trend, with traders now eyeing the $0.00366 resistance level as the next key target. Derivatives data shows mixed sentiment, with futures volume rising 73.5% to $1.65 billion, though leverage remains moderate at 5x on average [1].

The competition between the two platforms highlights the dynamic nature of the memecoin launch ecosystem, where liquidity, community engagement, and strategic initiatives play crucial roles. While Pump.fun appears to have regained the lead in token creation, the volume advantage held by LetsBonk.fun suggests the rivalry is far from over. Analysts will be watching closely to determine whether Pump.fun can maintain its momentum or if BONK-fueled growth will once again shift the balance of power.

Source:

[1] title: Pump.fun Reclaims Memecoin Launch Crown with 13,690 Tokens in 24 Hours

url: https://coinmarketcap.com/community/articles/68934ccaeb2f700e7db85b2b/