The battle for dominance in Solana’s meme token market has taken a decisive turn.
LetsBonk.fun has leapt ahead with roughly two-thirds of the market, leaving former frontrunner Pump.fun far behind.
The shift comes after LetsBonk intensified rewards for creators, sparking a wave of token launches and securing the bulk of new “graduates” to exchanges. On some weeks, over 80% of new Solana meme tokens originate on its platform.
While Pump.fun still holds a strong lineup of high-value, established tokens worth billions, the momentum clearly favors LetsBonk. Traders are now chasing freshly launched assets over older memes, creating a high-churn, high-fee environment that benefits platforms pushing sheer volume.
Behind the scenes, much of this activity is fueled by a handful of whales — and possibly automated accounts — minting hundreds of tokens a day. Despite low survival rates for these projects, the constant flow of new launches keeps daily revenues high. In July, LetsBonk’s fees hit $2 million in a single day before settling near $750,000 in early August, still outpacing Pump.fun’s typical $500,000.
The meme boom has also impacted Solana’s broader ecosystem. Network activity remains elevated at nearly 2.7 million daily active users, and total value locked has bounced back to $9.57 billion. With more than $12 billion in stablecoins on-chain and DeFi projects expanding, SOL could be gearing up for another rally — and meme tokens might play a big role in the next wave.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/letsbonk-overtakes-pump-fun-as-solanas-meme-token-king/