Meme coin launchpads on Solana are heating up again, with new challengers challenging PumpFun's long-standing dominance. LetsBonk has strongly increased in token deployment and is nearly on par with PumpFun in terms of graduated tokens in the past 24 hours.
However, PumpFun still leads by a large margin in daily active users, showing a deeper market penetration. As previous challengers like Moonshot demonstrated, short-term spikes are not enough—sustainable growth across all metrics keeps PumpFun in the top position.
PumpFun Maintains Lead as LetsBonk Surpasses LaunchLab
PumpFun has maintained its position as the top crypto launchpad for a long time, generating millions of dollars in weekly fees and dominating meme coin deployment.
Although rival platforms like Sunpump and Moonshot once attracted attention, they quickly faded.
PumpFun's peak came on 01/23/2025, when it saw a record 71,735 tokens launched in a single day—a level no competitor has matched since.
Solana Meme Coins Launchpads Daily Tokens Deployed. Source: Dune.Recently, competition has begun heating up again. Platforms like Boop and Bags have entered the market, but the most notable challengers are Raydium's LaunchLab and BONK's LetsBonk.
In the past three days, LetsBonk has strongly increased in usage, from 2,634 to 12,239 daily deployed tokens, surpassing LaunchLab, which deployed 2,975 tokens yesterday.
However, PumpFun still leads, with 23,753 tokens launched on the same day, affirming its dominance in the Solana ecosystem.
LetsBonk Nearly Matches PumpFun in Graduated Tokens Despite Fewer Coin Deployments
Despite launching nearly 50% fewer tokens than PumpFun in the past 24 hours, LetsBonk recorded 163 graduated tokens, just 7 tokens behind PumpFun.
In comparison, LaunchLab only had 5 graduated tokens, while Boop had 30. This shows that LetsBonk is not just growing in quantity—it is also attracting tokens with high engagement and strong community support.
Solana Meme Coins Launchpads Graduated Tokens (Last 24 hours). Source: Dune.The similar graduation numbers suggest LetsBonk has strong momentum and could challenge PumpFun's dominance if this trend continues.
Although PumpFun still leads in total volume, LetsBonk's effectiveness in producing graduated tokens indicates increasing quality and attraction in its ecosystem.
Despite Growth, LetsBonk Still Far Behind PumpFun in Active Users
Despite strong graduation rates, LetsBonk is still far behind PumpFun in daily active addresses.
On 05/12, PumpFun recorded 155,137 active addresses, while LetsBonk had just under 43,000. LaunchLab followed with 26,105.
This gap shows the difference in scale and user participation between PumpFun and its competitors, even as LetsBonk gains short-term momentum.
Solana Meme Coins Launchpads Daily Active Addresses. Source: Dune.The recent increase in LetsBonk's activity reflects previous spikes from platforms like Moonshot, which were prominent for a short time before fading.
Although LetsBonk shows potential, especially in token quality, PumpFun continues to dominate across all key metrics—volume, graduation, and active users—despite Solidus Labs recently reporting that 98% of tokens on PumpFun are flagged as scams.
Until a challenger can sustain growth across all aspects, PumpFun remains the undisputed leader in Solana's launchpad ecosystem.
