BONK Meme Coin Launchpad Overtakes Pump.fun in Solana Token Creation Frenzy
Solana's meme coin madness hits new heights as BONK's launchpad steals Pump.fun's crown. Who needs fundamentals when you've got memes and FOMO?
The numbers don't lie—retail traders are dumping real money into this circus. Another day, another decentralized casino opening for business.
Remember: in crypto, the house always wins... until the next shiny object distracts the degens.
What is LetsBonk?
LetsBonk is a launchpad that utilizes Raydium’s LaunchLab infrastructure to make it easy to create a meme coin. The project is tied to the Solana meme coin BONK, with some shared team members. Just like Pump.fun, to launch a token, users are required to fill out a basic FORM asking for a name, ticker symbol, description, and image. LetsBonk also allows the deployer to control the total token supply.
Since its April launch, LetsBonk has seen a Solana launchpad market share ranging from 2% to 18% before its recent surge that put it at 58.5% on Sunday. Before LetsBonk’s creation, according to Dune data, Pump.fun dominated the sector at nearly 100%, whereas on Sunday it had a market share of just 35.2%.
LetsBonk’s biggest winner is Useless Coin, which is currently at a $275.9 million market cap, followed by Hosico Cat at $69 million, and IKUN at $25.4 million. Meanwhile, Pump.fun’s largest tokens are Fartcoin at a market cap of $1.2 billion, WOULD at $505 million, and Peanut the Squirrel at $221 million.
The Bonk, Raydium, and Pump.fun teams did not immediately respond to Decrypt’s request for comment.
This isn’t the first time that Pump.fun has faced a challenger for its throne. In August last year, it was flipped by Tron-based launchpad SunPump following a viral campaign from TRON creator Justin Sun. SunPump’s moment in the limelight was short-lived, with Pump.fun reclaiming its crown just two weeks later. SunPump has since faded into obscurity, processing just three transactions on Tuesday, according to Dune.
