PUMP Surges as Meme Coin Launchpad Pump.fun Regains Top Spot on Solana

Pump.fun’s token surged on Monday as the meme coin launchpad clawed back market share from LetsBonk, its biggest competitor on Solana in recent weeks.

PUMP recently changed hands around $0.0036, a 20% increase over the past day, according to crypto data provider CoinGecko. The token’s price has still fallen 46% from an all-time high of $0.006812 last month, notched shortly after its highly anticipated debut.

For over a year, Pump.fun had served as the go-to place for people to speculate on meme coins, with thousands of tokens launched each day. The script flipped last month, however, as users gravitated towards LetsBonk after Pump.fun’s token swooned on arrival.

Last month, LetsBonk accounted for as much as 74% of the tokens launched each day on Solana-based launchpads, according to a Dune dashboard created by data scientist Adam Tehc. On Sunday, Pump.fun was back on top, with its platform accounting for 67% of the 27,500 meme coins released into the wild that day.

The so-called meme coins wars are heating back up, according to Tehc, who told Decrypt on Monday that the momentum had swung sharply in Pump.fun’s favor. Pump.fun’s daily revenue evaporated as LetsBonk showed strength, darting as low as $169,000 only to come roaring back to over $1 million recently, he said.

“Pump [has] made a very strong comeback, and [it is] back in the lead in terms of both number of tokens created and volume,” he added.

Last week, Pump.fun introduced the Glass Full Foundation, billing the organization as a way to support popular meme coins and their “most diehard cults” by injecting “significant liquidity” into tokens that are a part of the launchpad’s ecosystem.

Although the announcement garnered positive feedback on X, Tehc noted that the platform’s comeback began before the move was teased.

Within the past week, LetsBonk was displaced as the second most popular meme coin launchpad on Solana by a platform called Bags. On Sunday, LetsBonk, Bags, and Pump.fun notched $12 million, $38 million, and $134 million in trading volume, respectively.

BONK is one of the most popular meme coins on Solana, and LetsBonk uses revenue to purchase and remove the digital asset from circulation. On Monday, BONK’s price fell 3.2%, but its price has still increased 10% over the past month.

Investors meanwhile flocked to another token tied to a platform that encourages meme coin creation. The project Zora uses its token to incentivize and reward artists and musicians for saying their work on the platform, and its price was up nearly 40% to $0.135 on Monday.