The Rise Of LetsBONK Undermines The Dominance Of Pump.fun

Hardly launched, the PUMP token collapsed, losing its spectacular gains in just a few days. The post-ICO euphoria collided with a tougher reality: fierce competition, signs of manipulation, and an economic model already questioned. What future for the Pump.fun phenomenon in the unstable world of memecoins?

The honeymoon ends abruptly

The wake-up call is hard for investors who had bet on PUMP. One week after the record ICO of $600 million completed in just twelve minutes, the crypto market reality catches up with the initial euphoria. 

The token, now trading around $0.004, lost more than 22% on Friday alone according to The Block data.

This drop brings PUMP almost back to its initial issuance price, erasing the spectacular gains from Tuesday when it had jumped to $0.0067. The surge was triggered by the announcement of the buyback program, but the effect was short-lived.

Investors discover that even the $31.3 million mobilized by Pump.fun to buy back its own tokens is not enough to maintain the upward momentum. This correction illustrates the extreme volatility that characterizes the memecoin universe, where fortunes are made and lost within hours.

LetsBONK disrupts the established memecoin order

While PUMP falls, an unexpected rival takes the lead. LetsBONK, a platform specialized in the BONK memecoin ecosystem, has just achieved the unthinkable: surpassing Pump.fun in the number of daily tokens generated. A historic feat, as no competitor had seriously challenged the giant since its launch in early 2024.

The numbers speak for themselves. Pump.fun created 1,100 new memecoins per day in January versus only 69 today. A dizzying 94% fall from which LetsBONK fully benefits. The rival platform rides this decline to capture substantial market shares.

This platform war also plays out on performance. The BONK token has soared 64% since April, rewarding LetsBONK investors. Conversely, PUMP struggles to maintain its post-ICO gains. Two opposite trajectories illustrating the ongoing shift on Solana.

Faced with this threat, Pump.fun strikes back. Alon Cohen, co-founder of the platform, is deploying heavy artillery with a revolutionary “community takeover” mechanism. 

Users can now recover abandoned projects and redirect fees to the most committed contributors. A bold strategy to win back its community.

In short, the chaotic trajectory of PUMP perfectly illustrates the unpredictable nature of the memecoin market. Between post-ICO euphoria and trading reality, investors discover that even record fundraising does not guarantee long-term success. The emergence of LetsBONK also reminds us that in this ultra-competitive universe, no dominant position is ever permanently secured.