Pump.fun is no longer the dominant player; is the Solana Meme issuance platform facing a new Three Kingdoms battle?
The meme coin battlefield on the Solana chain is undergoing intense reshuffling.
Once the ruler of the landscape, Pump.fun has now seen its market share drop to 57.5%. Meanwhile, the newcomer Letsbonk.fun has rapidly risen to capture 17.9%, while Believe and LaunchLab have divided 12.9% and 5% respectively. A platform once deemed 'irreplaceable' is now facing siege.
The underlying logic isn't complicated—the market is no longer satisfied with a single tool; the community is beginning to prefer new platforms that offer 'diverse gameplay, profit-sharing, and innovative mechanisms.' Letsbonk.fun has seized on this, quickly gathering popularity with community governance and incentive models, while LaunchLab focuses on meticulous project selection, boasting a low graduation rate but impressive transaction volumes.
Is this a positive or negative signal?
✅ For Solana, it symbolizes vitality and indicates that infrastructure is transitioning towards greater diversity and community autonomy.
❌ However, for project teams and investors, it also means that the era of 'getting popular just by being on a hot platform' is coming to an end. Choosing a Launchpad requires a clearer understanding of the underlying models and community engagement.
The shaking of Pump.fun's status suggests that the next hit may not come from 'old players,' but rather from a suddenly popular new platform.
