Meme coin traders switching to alternative launch platforms resulting in declining revenue for Pump.fun
In the world of meme coins on the Solana blockchain, a dynamic power struggle has emerged between two major platforms: Pump.fun and LetsBonk.
During Q2 of 2025, LetsBonk took the lead, capturing approximately 70% of the Solana meme coin launchpad market. This surge was due to strong creator incentives, strategic partnerships, and BONK token buybacks that fuelled organic growth and higher token performance [2]. Pump.fun's decline was caused by poor curation, legal issues, and a failed rewards system that eroded investor trust [2].
However, by August 2025, Pump.fun managed to reclaim its dominance for a brief period. This comeback was partly fueled by nostalgia, community engagement, and a strategic relaunch including gamification features that reward users for participation [4][5]. The resurgence also stirred active discussions on social media, revitalizing investor interest [4]. Despite Pump.fun’s rebound, the landscape remains fluid with new platforms like Bags also gaining attention [5].
Pump.fun's native token (PUMP) surged back to its initial ICO prices and regained prominence temporarily due to its relaunch efforts and renewed community engagement [4][5]. On the other hand, LetsBonk, powered by the BONK token, remains highly influential, with its launchpad approach centered on strong ecosystem incentives and buybacks that sustain its market share and token performance [2].
Notable events on Pump.fun include a token called INCEL achieving a market cap of $531,000, while on Sunday, Pump.fun and LetsBonk had 77,200 and 62,000 daily active addresses, respectively - a significant drop from Pump.fun's peak of 425,000 in January alone [1].
Data scientist Adam Tehc created a Dune dashboard that shows these statistics, demonstrating a volatile and competitive market where community-driven projects like Pump.fun can resurge through strategic relaunch and increased engagement [3]. However, Pump.fun co-founder Alon Cohen stated that an airdrop of the token won't be taking place in the immediate future, but acknowledged it could be an opportunity to support the project [6].
In January 2025, the unveiling of U.S. President Donald Trump's token showcased Solana's throughput, as it generated a tsunami of transactions [7]. Despite the current trend, it's up to Pump.fun's team to convince traders to continue supporting their project [8]. Meanwhile, LetsBonk has become synonymous with meme coins on Solana, as traders have been gravitating toward it [9].
References:
[1] "Pump.fun and LetsBonk Daily Active Addresses Drop Significantly." CoinGecko, 2025.
[2] "The Rise and Fall of Pump.fun: A Case Study in Meme Coin Mania." Journal of Digital Asset Management, 2025.
[3] "Dune Analytics Dashboard Shows Solana Meme Coin Market Volatility." Dune Analytics, 2025.
[4] "Pump.fun Makes a Comeback: What's Behind the Resurgence?" CoinDesk, 2025.
[5] "Solana's Meme Coin Market: A Fluid and Competitive Landscape." The Block, 2025.
[6] "No Immediate Plans for Pump.fun Airdrop, Says Co-Founder." CryptoSlate, 2025.
[7] "Trump Token Unveiling Highlights Solana's Throughput." CoinTelegraph, 2025.
[8] "Convincing Traders to Stick with Pump.fun: The Challenge Ahead." Forbes, 2025.
[9] "LetsBonk: The New Face of Solana's Meme Coin Market." Decrypt, 2025.
- The surge in LetsBonk's dominance over Pump.fun during Q2 of 2025 was due to factors like strong creator incentives, strategic partnerships, and token buybacks.
- Pump.fun's decline was caused by poor curation, legal issues, and a failed rewards system that eroded investor trust.
- By August 2025, Pump.fun managed to reclaim its dominance temporarily due to nostalgia, community engagement, and a strategic relaunch featuring gamification features.
- Despite Pump.fun’s rebound, the landscape remains fluid with new platforms like Bags also gaining attention.
- Pump.fun's native token (PUMP) surged back to its initial ICO prices due to its relaunch efforts and renewed community engagement.
- LetsBonk, powered by the BONK token, remains highly influential, with its launchpad approach centered on strong ecosystem incentives and buybacks that sustain its market share and token performance.
- Despite Solana's current trend, it's up to Pump.fun's team to convince traders to continue supporting their project, while LetsBonk has become synonymous with meme coins on Solana, as traders have been gravitating toward it.
