Pump.fun
Loses Market Dominance as LetsBonk Captures Meme Coin Traders
Pump.fun
's market share plummeted to just 19% of Solana launchpad tokens Saturday, down from 88% a month ago.
LetsBonk now accounts for 69% of token deployments, facilitating most top meme coin launches on #Solana.
The platform's revenue dropped to under $200,000 Sunday, compared to $1 million a month prior.
Pump.fun's native token hit a fresh low of $0.002, falling 60% over 12 days following its controversial ICO.
Co-founder Alon Cohen confirmed no immediate airdrop plans, disappointing the community.
LetsBonk's top token DEBT reached a $14.8 million market cap, while Pump.fun's best performer INCEL hit $531,000.
Solana co-founder Anatoly Yakovenko recently dismissed meme coins as "digital slop" with no intrinsic value.
