$SOL LetsBonk overtakes Pump.fun: Are Solana memecoins back for good?

Pump.fun has lost its spot as Solana’s top memecoin launchpad for the first time since its breakout, overtaken by rookie platform LetsBonk.

At first glance, Solana’s overall network activity suggests that the memecoin scene is more reshuffling than expanding. Total token launches on the network remain stable, daily transactions are trending downward and the number of new accounts created is roughly half of April’s peak.

However, supporting metrics hint that Solana may be on the rise again, driven by a potential expansion in memecoin activity, according to Vugar Usi Zade, chief operating officer of Bitget.

“Since LetsBonk started really taking off, Solana’s network has lit up. Gas usage per transaction hasn’t skyrocketed, but the sheer flood of transactions — especially from token mints and swaps — has driven total fees and validator tip income noticeably higher,” he said.