Pump.fun Loses Dominance as New Meme Coin Launchpads Rise on Solana

The meme coin launchpad market on the Solana blockchain is present process a serious change in Might 2025. Newcomers like LetsBonk, Consider, and LaunchLab threaten Pump.enjoyable’s dominance.

With Pump.enjoyable’s market share dropping from over 98% to only 57.5%, new platforms like LetsBonk and Consider are gaining traction. Is Pump.enjoyable’s dominance within the sector coming to an finish?

Over 200,000 Solana Day by day Transaction Addresses

The competitors amongst meme coin launchpads is heating the market and driving group participation. In response to knowledge from Dune Analytics, over 200,000 Solana addresses transact day by day on meme coin launchpad platforms, reflecting the ecosystem’s dynamism.

Variety of Solana Addresses Transacting on Meme Coin Launchpads. Supply: Dune

The surge in buying and selling exercise coincides with the explosion of latest meme coin launchpads. Past Pump.enjoyable, the market now gives further choices like LaunchLab, Auto.enjoyable, and extra just lately, LetsBonk and Consider.

The emergence of those platforms has shortly captured group consideration by spectacular tasks. For instance, LAUNCHCOIN on Consider achieved a market capitalization exceeding $200 million.

Tokens like GOONC and DUPE on LetsBonk additionally recorded day by day buying and selling volumes reaching thousands and thousands of USD. This demonstrates that new platforms compete for market share and create important investor revenue alternatives.

Pump.enjoyable’s Market Share Declines

For a very long time, Pump.enjoyable held a dominant place within the Solana meme coin launchpad house, with a market share as soon as exceeding 98%. Nevertheless, in keeping with Lookonchain, Pump.enjoyable’s day by day token market share has sharply dropped to 57.5%.

Information from Dune Analytics, displayed within the “Day by day Tokens Deployed Market Share” chart, highlights the rise of latest rivals. LetsBonk holds 17.9% of the market share, Consider accounts for 12.9%, and LaunchLab information 5%. This decline marks the primary time Pump.enjoyable has confronted actual competitors.

Market Share of Meme Coin Launchpad Platforms. Supply: Lookonchain

The chart from Dune Analytics clearly illustrates this shift. Platforms like LetsBonk and Consider started gaining traction from early 2025, notably from March, when the meme coin market turned extra lively.

The rising market share of newcomers displays intensifying competitors and signifies that customers are searching for new choices, probably as a result of Pump.enjoyable not meets calls for for innovation and effectivity.

“Don’t actually have a robust opinion on how this performs out however competitors ought to be internet good for customers,” X person Ansem commented.

Hottest Meme Cash Shift to LetsBonk and Consider

One of many major causes for Pump.enjoyable’s declining dominance might be the migration of “scorching” meme cash to different platforms. In response to knowledge from Dune Analytics, current distinguished meme cash like LAUNCHCOIN, GOONC, DUPE, and Hosico had been launched on LetsBonk or Consider, fairly than Pump.enjoyable.

Notably, Consider has seen outstanding development. Previously month, the whole market capitalization of tokens on the platform surged from $1.5 million to over $200 million.

Consider Tokens Marketcap. Supply: Klaus

This shift signifies meme coin builders search new platforms to draw consideration and leverage higher incentive mechanisms. For example, Consider has garnered important curiosity by its SocialFi mannequin and the rebranding of PASTERNAK to LAUNCHCOIN.

In the meantime, LetsBonk stands out with its excessive token “commencement” charge, a key metric reflecting a token’s means to fulfill standards for buying and selling on main exchanges.

Token “Commencement” Charge: LetsBonk Excels, Pump.enjoyable Nonetheless Leads in Quantity

The token “commencement” charge is a essential metric for evaluating the effectiveness of meme coin launchpads. Previously 24 hours, Pump.enjoyable recorded 204 tokens “graduating,” main in quantity. Nevertheless, LetsBonk was shut behind with 92 tokens, far surpassing LaunchLab (2 tokens) and Boop (12 tokens).

Day by day Commencement On Solana Meme Coin Launchpads. Supply: Dune

LetsBonk’s excessive commencement charge signifies that the platform is attracting high quality meme coin tasks able to assembly standards for broader buying and selling. Whereas Pump.enjoyable nonetheless leads in quantity, its declining market share suggests it’s dropping enchantment amongst new builders. This can be on account of rivals providing decrease charges or higher incentive mechanisms.

This competitors might considerably profit the Solana ecosystem in the long run, as platforms should enhance high quality to fulfill person calls for. Nevertheless, traders ought to stay cautious of the value volatility dangers related to meme cash, particularly since new tokens are sometimes inclined to cost manipulation by “pump-and-dump” schemes. A current examine discovered that 98% of tokens on Pump.enjoyable had been flagged as scams.