The Meme Coin Launchpad marketplace for the Solana blockchain has undergone a significant change in Might 2025. Newcomers like Letsbonk, Imagine and Launchlab are threatening Pump.enjoyable's benefit.
Pump.Enjoyable's market share has fallen to over 98%, down to simply 57.5%, down to simply 57.5%. It's a brand new platform the place Letsbonk and Imagine are gaining traction. Is Pump.enjoyable's benefit within the sector coming to an finish?
Over 200,000 Solana Each day Transaction Addresses
Competitors between Meme Coin Launchpads is intensifying the market and driving neighborhood participation. In keeping with knowledge from Dune Analytics, over 200,000 Solana commerce each day on the Meme Coin LaunchPad platform, reflecting the ecological dynamism.
Solana numbers are engaged on addresses to commerce on Meme Coin Launchpad. Supply: Dune
The surge in buying and selling exercise coincides with the explosion of recent meme coin launchpads. Past Pump.Enjoyable, the market gives extra choices resembling Laintlab, auto.enjoyable, and extra.
The emergence of those platforms rapidly gained neighborhood consideration by means of spectacular tasks. For instance, LaintCoin on Imagine achieved a market capitalization of over $200 million.
Tokens like Letsbonk's Goonc and Dupe additionally recorded each day buying and selling volumes, reaching hundreds of thousands of US {dollars}. This exhibits that new platforms compete for market share and create revenue alternatives for key buyers.
Pump.Enjoyable's market share will lower
For a very long time, Pump.Enjoyable held a dominant place within the Solana Meme Coin Launchpad house, with market share as soon as exceeding 98%. Nevertheless, in line with LookonChain, Pump.Enjoyable's each day token market share fell sharply to 57.5%.
Dune Analytics knowledge, displayed on the Each day Token Deployment Market Share chart, highlights the rise of recent rivals. Letsbonk holds 17.9% of the market share and believes it’ll account for 12.9%, with LaunchLab information recording 5%. This decline signifies that Pump.Enjoyable is dealing with first competitors.
Market share of the Meme Coin LaunchPad platform. Supply: LookonChain
The Dune Analytics chart clearly exhibits this shift. Platforms resembling Letsbonk started gaining traction in early 2025, particularly in March when Meme Coin Market turned extra lively.
The rising market share of recent entrants displays stronger competitors, indicating that customers are searching for new choices, maybe as a result of Pump.Enjoyable doesn't meet their innovation and effectivity calls for.
“We shouldn't have a very sturdy opinion on how this works, however competitors should be pure to customers,” commented X-user Ansem.
Hottest meme cash have moved to Letsbonk and imagine
One of many primary causes for the decline in Pump.Enjoyable's domination is the transition to different platforms of “sizzling” memecoin. In keeping with Dune Analytics knowledge, not Pump.enjoyable, latest distinguished meme cash resembling Laintcoin, Goonc, Dupe and Hosico have been launched on Letsbonk or Imagine.
Particularly, I imagine we’ve seen superb progress. Over the previous month, the whole market capitalization of tokens on the platform has skyrocketed from $1.5 million to over $200 million.
Belief the Token Market Cap. Supply: Klaus
This shift exhibits that memecoin builders are searching for new platforms to draw consideration and benefit from higher incentive mechanisms. Convictions have attracted nice curiosity, for instance, by means of the SocialFi mannequin and Pasternak's rebranding to Raunchcoin.
Letsbonk, in the meantime, stands out for its excessive token “commencement” price, a key metric that displays the flexibility of tokens to fulfill buying and selling requirements on main exchanges.
Token “Commencement” Fee: Letsbonk is superb, Pump.Enjoyable nonetheless leads the quantity
Token “commencement” price is a vital metric for assessing the effectiveness of Meme Coin Launchpad. Within the final 24 hours, Pump.Enjoyable “graduated” 204 tokens and led the quantity. Nevertheless, Letsbonk was behind with 92 tokens, far surpassing LaunchLab (2 tokens) and Boop (12 tokens).
Each day commencement from Solana Meme Coin Launchpads. Supply: Dune
Letsbonk's excessive commencement charges present that the platform is gathering prime quality meme coin tasks that may meet the broader buying and selling requirements. Pump.Enjoyable nonetheless leads the quantity, however the decline in market share suggests it has misplaced its enchantment amongst new builders. This may very well be resulting from rivals providing decrease charges or higher incentive mechanisms.
This competitors may deliver important advantages to the Solana ecosystem in the long term, because the platform wants to enhance high quality to fulfill the calls for of its customers. Nevertheless, buyers needs to be cautious about value volatility dangers related to meme cash, particularly as new tokens are inclined to cost manipulation by means of the “pump and dump” scheme. A latest research discovered that 98% of Pump.Enjoyable tokens are flagged as fraud.
