The memecoin war on Solana: pump.fun regains the top spot, but letsBONK.fun dominates liquidity

pump.fun, the platform that once dominated wave #memecoin⁠⁠⁠⁠ on Solana, has regained the number one position in the number of new tokens launched compared to competitor letsBONK.fun. However, the race is still very intense as letsBONK.fun excels in liquidity.

The recovery of pump.fun and PUMP

According to data from Dune Analytics, in the past 24 hours, pump.fun has seen 13,690 new tokens, slightly more than letsBONK.fun's 13,392. Although PUMP, the token of pump.fun, experienced a significant price drop after the ICO, the project has implemented a token buyback program to reinforce confidence. This move has helped $PUMP increase nearly 40% over the past week, showing signs of recovery.

The advantage of letsBONK.fun and new competition

Despite launching fewer tokens, letsBONK.fun has an advantage in liquidity with $87.7 million in daily trading volume, higher than pump.fun's $82.4 million. This advantage comes from the strong support of the BONK community and the mechanism of using transaction fees to buy and burn BONK, helping to increase its value.

However, both platforms are facing a new challenge: the rise of Base. This Layer 2 platform, supported by Coinbase, is gradually gaining traction and has launched more tokens than $SOL , especially after the launch of the on-chain super application Base App, which integrates Web3 social networks into the asset market.