Quick Highlights
- Pump.fun now powers 93.7% of daily memecoin listings on Solana.
- Bots and a $500M token buyback helped trigger Pump.fun’s rise.
- Letsbonk adds “points” to recover lost ground in incentive race.
The Rise of Pump.fun, Fall of Letsbonk.fun
Token launchpad pump.fun has surged back to dominance, displacing rival letsbonk.fun, which had held over 80% market share just two weeks prior.
According to Dune Analytics, as of August 18, 2025, pump.fun now accounts for 93.7% of daily token listings on decentralized exchanges. Meanwhile, letsbonk.fun has plummeted to just 3.2%.
Some analysts attribute this shift to the active buyback of PUMP tokens and the migration of top memecoin creators, many of them bots, from letsbonk.fun to pump.fun. The ten largest users—mostly automated accounts—have reportedly switched platforms, triggering a rapid rise in pump.fun’s market share.
Buybacks, Bots, and Incentives
Conor Grogan, Director of Product Strategy at Coinbase, previously highlighted that most tokens on pump.fun and letsbonk are auto-generated, with top wallets creating coins every three minutes—likely via bots.
In July 2025, pump.fun completed a $500 million PUMP token sale, followed shortly by a multi-million dollar buyback. These moves have fueled speculation about potential revenue-sharing mechanisms with token holders.
Meanwhile, letsbonk.fun is trying to claw back its influence. The platform recently introduced a “Points” tab in its dashboard, suggesting a new rewards system for users. Developers have also pledged to allocate 1% of revenue to buybacks of top BONK ecosystem tokens.
The rivalry intensified in July, when pump.fun began outperforming its more established competitor across several metrics. By early August, letsbonk.fun still held 88.8% of “graduate tokens”, those reaching active trading — but pump.fun’s monthly revenue hit a record low.
Now, the tables have turned and fast.
