New platform takes the lead in launches, graduations, and trading volume for the first time since 2024.
Major shakeup hits Solana’s memecoin ecosystem. LetsBONK, a newly launched memecoin launchpad, has officially surpassed Pump.fun, the long-standing titan of Solana-based token creation.
LetsBONK, also known as Bonk.fun has overtaken Pump.fun in daily launches, graduations, and trading volume. This is the first time Pump.fun has lost its top position since launching in January 2024, highlighting a shift in the memecoin market.
LetsBONK nearly doubles Pump.fun
Adam Tehc was the first to notice and report this, after creating a dashboard on Dune. His data from Sunday shows that LetsBONK clearly took the lead in the Solana memecoin launchpad sector in July.
In just a 24-hour period, LetsBONK recorded nearly 18,100 token launches, almost double Pump.fun’s 9,535 launches.
Even more striking, 204 tokens launched on LetsBONK “graduated”, meaning reached the market cap required to trade on DEXs, compared to only 58 on Pump.fun, signaling a wider shift in sentiment among creators and traders.
Trading volume metrics further underscore LetsBONK’s new standing. According to data from the Solana DEX aggregator Jupiter, LetsBONK captured nearly 49.8% of the entire market’s launch-related volume, while Pump.fun trailed with 40.9%.
What is LetsBONK?
Launched in April 2025, LetsBONK is a memecoin platform built on Solana that directs half of its launch fee revenue toward buying and burning BONK, the original Solana memecoin born out of the post-FTX crash in 2022.
The model, designed to drive price support through deflationary pressure, has helped fuel renewed interest in BONK.
The memecoin’s price has been steadily rising since the beginning of July, marking nearly a 49% gain over seven days. Since Saturday, BONK surged by 28%, reaching $0.00002301 by early Monday.
Why Pump.fun Is Losing Ground
Pump.fun is facing mounting legal and regulatory pressure that’s eroding its dominance in the Solana memecoin space.
A class-action lawsuit filed in January 2025 alleges that the platform operates an unregistered securities exchange, manipulates token prices, and promotes pyramid-style launches, allegedly allowing its team to profit from rug pulls at the expense of retail investors.
Trademark disputes over branded tokens and the temporary suspension of its official X accounts in June have only deepened regulatory scrutiny.
At the same time, the platform has delayed its much-hyped token launch, amid growing community skepticism.
Users have criticized Pump.fun’s lack of transparency and aggressive revenue tactics, especially as past controversies resurface.
A 2024 WIRED linked co-founder, Dylan Kerler, to earlier rug-pull schemes, further damaging the platform’s credibility as newer rivals, such as LetsBONK, surge ahead.
Why This Matters
As LetsBONK rapidly grows in token launches, graduations, and trading volume, it is overtaking Pump.fun’s long-held lead in the Solana memecoin space. Its model — burning BONK and reinvesting fees into the broader ecosystem — emphasizes long-term value over short-term hype. This is the first time Pump.fun has lost its top position since launching in January 2024, highlighting a shift in the memecoin market.
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