Pump.fun, the dominant Solana meme coin launchpad, is launching its PUMP token ICO on July 12 across six major exchanges, excluding U.S. and UK participants. The sale offers 150B tokens at $0.004 each, with pre-market trading on Hyperliquid predicting a 35% price jump post-launch. Analysts are split: some, like Messari’s Matthew Nay, see promise in the pre-market data, while others, like Beanie of GM Capital, criticize the $4B valuation as excessive. Pump.fun’s market share has recently faced competition from LetsBonk, adding uncertainty. Tokenomics include a one-year cliff for team and private buyers, reducing early sell pressure. Traders are eyeing alternative Pump-themed meme coins amid geoblocking concerns.
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0 posts last weekLetsBonk Overtakes Pump.fun in Solana Meme Coin Launches
LetsBonk has overtaken Pump.fun as the leading Solana launchpad for meme coins, launching 19,620 tokens in the past 24 hours compared to Pump.fun’s 9,249. This marks the first time Pump.fun hasn’t dominated the sector since its January 2024 debut. LetsBonk, which uses Raydium’s LaunchLab infrastructure, now holds a 58.5% market share, with Useless Coin ($275.9M market cap) as its largest token. Pump.fun’s dominance had previously been challenged by Tron-based SunPump in 2023, but it quickly regained its position. Analysts note that LetsBonk’s growth appears more organic, with fewer farming activities compared to Pump.fun. The shift highlights the volatile nature of the meme coin ecosystem and the competition among launchpads.
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