Pump.fun’s Reign Falls as letsBONK.Fun Grabs 25% of Solana Memecoin Market

• fun claims nearly 25% market share, shaking up Solana’s memecoin space
• fun drops below 60% dominance for the first time amid rising competition
• Solana memecoin users shift to new platforms as launchpad wars intensify

Pump.fun’s longstanding control over the Solana memecoin market is facing its biggest test yet. Recent data shows the platform’s market share has dropped below 60 percent, marking a significant decline in its dominance.

In a sharp turn, letsBONK.fun has emerged as the top challenger. The new launchpad currently dominates almost a quarter of the available market, and it has become the most obvious rival of Pump.fun.

This transition is coinciding with the increase in user engagement in the Solana ecosystem. The wallet address that has been used to communicate with memecoin platforms has increased to hundreds of thousands. That increase in activity is providing the newer launchpads a reasonable basis to grow.

With letsBONK.fun constantly gaining popularity, other websites also appear on the market. Launchpads such as Jup Studio, Auto.fun, Believe, and Moonshot are gradually becoming more popular. These platforms are all contributing to the decline of Pump. fun’s previous dominance.

The trend of multi-platforms is an indication of a mature market. Users have also become more open to searching alternatives, and one of the alternatives is offering faster deployment, cheaper prices, or better visibility of new coins.

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letsBONK.fun’s Growth Triggers New Era for Solana Memecoin Launchpads

Solana’s broader growth reflects this trend, with the network’s market cap adding $10 billion in recent weeks, rising from below $70 billion in June to $79 billion at the time of reporting. That increase has had a direct impact on SOL’s price.

At the end of June, SOL rose more than 30 percent only to fall by 10 percent a couple of weeks later. Based on records provided by TradingView, the token is currently being traded at $147.76 after hitting a local high of $163.90 in the first part of this month.

The emergence of letsBONK.fun is not merely a competitive development, as it can also be seen as an expanding interest in new launch platforms. The users no longer dwell on one tool to catalyze memecoin generation and participation.

Pump.fun’s dominance is slipping as letsBONK.fun captures a quarter of the market share. With new platforms drawing in thousands of users, the Solana memecoin space is entering a more competitive and dynamic phase.

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