Solana News Today: Let’sBonk Surges to 64% Solana Meme Coin Dominance as Pump.fun Plummets to 24% in One Month

Let’sBonk has emerged as the dominant platform for launching Solana-based meme coins, surpassing former leader Pump.fun after a dramatic shift in market share. According to recent data, Let’sBonk’s platform dominance surged from 5% to 64% in a single month, while Pump.fun’s share plummeted to 24% from 90%. This rapid transition reflects heightened demand for decentralized token creation tools on the Solana network, driven by a surge in speculative trading and creator activity [1].

The platform’s growth is underscored by record-breaking metrics. Over the past seven days, Let’sBonk facilitated the launch of approximately 150,000 new tokens, a 14% weekly increase. On July 18, the platform hit a daily record with 26,600 tokens created, outpacing competitors. Decentralized exchanges (DEXs) such as Raydium also saw a new high of 282 meme coins listed on July 16, with Let’sBonk capturing 79% of the market share compared to Pump.fun’s 18% [1].

Financial performance further highlights Let’sBonk’s ascent. By July 18, the platform generated $179 million in daily trading volume—nearly triple Pump.fun’s $52 million. This represents a stark contrast to one month earlier, when Pump.fun’s volume exceeded $150 million while Let’sBonk’s remained below $10 million. Transaction fees also saw a sharp rise, with Let’sBonk earning $8 million in commissions versus Pump.fun’s $4 million [1].

The success of Let’sBonk has bolstered its native token, BONK, which has risen 185% over the past month. Trading at $0.000035, BONK now holds a $2.7 billion market cap, securing a spot in the top 55 cryptocurrencies by capitalization. The token’s popularity is evident in its growing community, with over 440,000 followers on X (formerly Twitter) [1].

Pump.fun’s decline, however, is attributed to structural challenges. Despite a $500 million ICO for its PUMP token on July 12—completed in just 12 minutes—the platform faced heavy selling pressure. Nearly 60% of presale participants offloaded their tokens or transferred assets to centralized exchanges post-launch, leading to the dumping of 17 billion PUMP tokens (worth $90 million) on exchanges. Critics point to token distribution issues and liquidity imbalances as key factors in Pump.fun’s waning influence [4].

While Pump.fun has attempted to stabilize its position through buybacks and the launch of PumpSwap—a DEX for meme coins—these efforts have not reversed the trend. Its acquisition of Kolscan, a wallet-tracking tool, and liquidity strategies remain unproven in countering the selling frenzy. Meanwhile, Let’sBonk’s user-friendly tools and rapid token deployment have resonated with creators seeking to capitalize on Solana’s ecosystem [1].

The broader Solana network has benefited from the meme coin boom, with institutional inflows and a surge in token projects pushing SOL’s price above $200 in July 2025 [3]. Analysts note that the meme coin sector remains highly speculative, with platform competition intensifying as projects vie for creator and trader attention. However, the sustainability of Let’sBonk’s growth remains uncertain, particularly amid regulatory scrutiny and the inherent volatility of meme-based assets [1][3].

Despite Pump.fun’s decline, its historical role in popularizing Solana meme coins cannot be ignored. Viral tokens like Dogwifhat ($WIF) and Fartcoin ($FARTCOIN) initially gained traction on its platform. Yet, Let’sBonk’s rise signals a growing appetite for innovation in token launch mechanisms, with user sentiment and technical execution playing decisive roles in shifting market dynamics [4].

As the race for dominance continues, both platforms are likely to refine their offerings. Pump.fun’s PumpSwap initiative and Let’sBonk’s focus on streamlined tools may shape the next phase of competition. However, the long-term success of Solana’s meme coin ecosystem depends on attracting sustained investor interest beyond speculative trading [3].

Source:

[1] [Coinpaper] [https://coinpaper.com/10122/lets-bonk-overtakes-pump-fun-as-leading-solana-meme-coin-platform]

[3] [Coin] [https://coinedition.com/solana-memecoins-surge-institutional-inflows-fuel-sol-rally-200/]

[4] [Cryptonews] [https://cryptonews.com/news/whales-abandon-pump-17b-tokens-dumped-price-tests-lows/]