LetsBonk’s Meteoric Surge: Capturing 50% of the Meme Market Leaves Pump.fun in the Dust

Move over, Pump.fun—LetsBonk just rewrote the meme coin playbook. The upstart token now commands half of the meme market, flipping the script on legacy launchpads. Here's how the underdog became the alpha dog.

The Bonk Effect: From Joke to Juggernaut

What started as a cheeky canine-themed token now bites off 50% of the meme economy. No VC funding, no corporate backers—just pure, unfiltered degens turning 'woof' into 'wealth.' (Or at least, wealth until the next whale dumps.)

Pump.fun's Existential Crisis

The OG meme platform now watches as LetsBonk eats its lunch. When a token born from internet absurdity outpaces engineered 'viral' projects, maybe the real utility was the friends we rugged along the way.

Meme coins: Still the casino side-door to crypto riches—where fundamentals go to die, and leverage traders go to cry.

LetsBonk leads in token creation and graduations

LetsBonk took weeks to expand its token generation and graduations. Currently, the platform carries 49.5% of daily meme creations. A total of 192 tokens graduated on Wednesday, compared to 87 for Pump.fun. 

New token creations were once again above 22,000 on LetsBonk, while Pump.fun activity slowed down significantly to 8,151 tokens. 

For both platforms, on-chain evidence shows a top 100 list of wallets that generate most of the new tokens, apparently using bot-driven automation to launch and trade the assets. However, even with bots, the new platform showed it is possible to challenge Pump.fun successfully. 

Fees also reached a new record at $1.36M for the past day. The platform is now ranked 14th among fee-producing apps, while Pump.fun sank to position 20 with just $817K in the past day. The appearance and ascension of LetsBonk also challenged the narrative that Pump.fun has a unique community and a business moat that meant that no other platform can replicate its model and draw in users for the “trenches.”

Until recently, new platforms always lagged behind Pump.fun. That monopoly seems to be ending as the already strong BONK token community transitioned into meme activity. One of the main attractors of Pump.fun alternative is its more generous reward infrastructure. 

Pump.fun, on the other hand, showed slower activity after apparently delaying its native token launch. Some of the Pump.fun activity was also tied to eventual point farming, or increasing usage to achieve a higher token allocation in the event of an airdrop. For now, however, Pump.fun remains tokenless, while LetsBonk uses BONK as its unofficial asset. 

LetsBonk ecosystem tokens expand, led by USELESS

The ecosystem’s tokens have already expanded to around $500M. Over 50% of the value is locked in Useless Coin (USELESS), one of the oldest memes in the ecosystem. 

The ecosystem tracks mindshare, as traders return for the hottest tokens. USELESS still retains a 59% mindshare, with almost constant fluctuation in the top 10 assets. 

The meme platform has integrated sentiment metrics for each token, showing the latest trends and the hottest assets. 

The platform also tracks the success and rewards for its projects more closely. LetsBonk has paid out thousands of SOL as rewards to creators and technical participants in the first weeks of activity.

LetsBonk is yet to prove the sustainability of its model. In the past, the platform had high-activity days, followed by a slide to a lower baseline. The recent record activity in July marks a new stage in the platform’s evolution, potentially turning it into a top solana app.

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