The Power Shift of Solana On-Chain Memecoin Launchpad Landscape
"The king is dead, long live the king." This declaration echoed in the Palace of Versailles in the 18th century. It was not just a mourning for the deceased, but also an acknowledgment of the new monarch. This reflects an eternal truth about power: power never belongs to anyone, it flows like water, always seeking new vessels.
Today, this ancient power transition ceremony is being staged in the memecoin Launchpad arena on the Solana blockchain. The former ruler, Pump.fun, which held 88% of the market share just a month ago, now has only 13% left. The new challenger, Let'sBONK, has already captured 86% of the market. This is not only another manifestation of volatility in the crypto world, but also a typical case of an empire's collapse: when the ultimate moat of attention is neglected, even the largest first-mover advantage can disappear in an instant.
!7388151
The Rise and Fall of the Pump.fun Empire
Pump.fun was launched in January 2024 by three young individuals in their 20s, with the core idea of allowing users to easily issue meme coins without the need for programming knowledge. This meets the underlying demand of transforming "worthless" into "valuable." By January 2025, Pump.fun had generated over $458 million in revenue, with thousands of new coins going live daily, and peak daily income exceeding $7 million.
However, the collapse of Pump.fun began with one of its most innovative features: live streaming. In order to gain attention, some users engaged in extreme behaviors during the live streams, even jeopardizing their safety. This led to the platform being forced to shut down the live streaming feature, damaging its reputation, and causing a 66% drop in revenue for that week.
In the face of the crisis, Pump.fun chose to save itself through an ICO. Although it raised $500 million within 12 minutes, along with $700 million in private placement, there are issues with its token economics design. The fully unlocked sale tokens, unclear distribution timeline, and lack of immediate community rewards have raised doubts in the market.
The final blow came when co-founder Alon Cohen publicly announced the cancellation of the long-term committed airdrop. This decision was announced at a time when community trust was at its most fragile, causing the token price to plummet by 15% within 24 hours.
!7388153
The Rise of Let'sBONK
When Pump.fun is in trouble, Let'sBONK is quietly building a more transparent and community-oriented platform. Currently, Let'sBONK's daily revenue has reached $1.3 million, which is 5 times that of Pump.fun. From nearly zero in May to a stable breakthrough of one million dollars in daily revenue in July, Let'sBONK's revenue is steadily increasing.
Let'sBONK allocates 1% of its weekly revenue to buy back BONK tokens, providing support for this ecosystem token. In contrast, the PUMP token has lost 60% of its market value since its ICO, while BONK remains relatively stable with a market value of $2.1 billion.
!7388154
The Victory and Defeat of Attention Economy
Pump.fun once gained an advantage through network effects, but attention is fragile. An incident during a live broadcast gave users a reason to try alternative platforms, and Let'sBONK quickly became the "clean" choice.
Pump.fun attempts to reverse the situation by increasing the token buyback ratio and launching incentive programs, but these tactical adjustments cannot address the strategic issues. In contrast, Let'sBONK has built a truly user-aligned ecological reward system, including lock-up rewards and a points system.
!7388155
A Bigger Picture
In the digital market, a dominant position can vanish in just a few months. The success of Let'sBONK is not only due to building a better product but also because it entered the market at the most vulnerable moment of Pump.fun's reputation.
Despite a significant shrinkage in market share, Pump.fun still has a chance to turn things around. They have ample capital reserves, a mature technological foundation, and brand recognition as a category creator. The recently launched Pump.fun 2.0, increased buyback ratio, and user incentive programs all demonstrate their determination to fight back.
The most likely scenario in the future is market fragmentation, with Let'sBONK becoming the main platform, while Pump.fun transforms into a niche platform with loyal users. However, to truly turn things around, Pump.fun needs to rebuild trust and reclaim cultural high ground, which may require a complete overhaul of its leadership.
In this power transition, we once again witness an ancient truth: when rulers lose legitimacy, only new leadership can regain respect. To sustain the kingdom, sometimes the crown must change hands.
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BrokeBeans
· 09-01 01:22
Now is the time to pump, it's all gone cold.
View OriginalReply0
WhaleSurfer
· 08-29 05:51
Bro, run away quickly, this coin is doomed.
View OriginalReply0
Fren_Not_Food
· 08-29 02:51
This pump is gg already.
View OriginalReply0
CryptoGoldmine
· 08-29 02:51
From the data, the 80/20 rule has been proven once again; laying out a new track is the right path.
View OriginalReply0
0xInsomnia
· 08-29 02:50
suckers suckers still suckers
View OriginalReply0
ForkThisDAO
· 08-29 02:50
Are the brothers who buy the dip Pump still alive?
View OriginalReply0
LiquiditySurfer
· 08-29 02:46
It's nothing new to be played for suckers in the crypto world.
Solana on-chain Memecoin Launchpad landscape reshuffle: Pump.fun declines Let's BONK rises
The Power Shift of Solana On-Chain Memecoin Launchpad Landscape
"The king is dead, long live the king." This declaration echoed in the Palace of Versailles in the 18th century. It was not just a mourning for the deceased, but also an acknowledgment of the new monarch. This reflects an eternal truth about power: power never belongs to anyone, it flows like water, always seeking new vessels.
Today, this ancient power transition ceremony is being staged in the memecoin Launchpad arena on the Solana blockchain. The former ruler, Pump.fun, which held 88% of the market share just a month ago, now has only 13% left. The new challenger, Let'sBONK, has already captured 86% of the market. This is not only another manifestation of volatility in the crypto world, but also a typical case of an empire's collapse: when the ultimate moat of attention is neglected, even the largest first-mover advantage can disappear in an instant.
!7388151
The Rise and Fall of the Pump.fun Empire
Pump.fun was launched in January 2024 by three young individuals in their 20s, with the core idea of allowing users to easily issue meme coins without the need for programming knowledge. This meets the underlying demand of transforming "worthless" into "valuable." By January 2025, Pump.fun had generated over $458 million in revenue, with thousands of new coins going live daily, and peak daily income exceeding $7 million.
However, the collapse of Pump.fun began with one of its most innovative features: live streaming. In order to gain attention, some users engaged in extreme behaviors during the live streams, even jeopardizing their safety. This led to the platform being forced to shut down the live streaming feature, damaging its reputation, and causing a 66% drop in revenue for that week.
In the face of the crisis, Pump.fun chose to save itself through an ICO. Although it raised $500 million within 12 minutes, along with $700 million in private placement, there are issues with its token economics design. The fully unlocked sale tokens, unclear distribution timeline, and lack of immediate community rewards have raised doubts in the market.
The final blow came when co-founder Alon Cohen publicly announced the cancellation of the long-term committed airdrop. This decision was announced at a time when community trust was at its most fragile, causing the token price to plummet by 15% within 24 hours.
!7388153
The Rise of Let'sBONK
When Pump.fun is in trouble, Let'sBONK is quietly building a more transparent and community-oriented platform. Currently, Let'sBONK's daily revenue has reached $1.3 million, which is 5 times that of Pump.fun. From nearly zero in May to a stable breakthrough of one million dollars in daily revenue in July, Let'sBONK's revenue is steadily increasing.
Let'sBONK allocates 1% of its weekly revenue to buy back BONK tokens, providing support for this ecosystem token. In contrast, the PUMP token has lost 60% of its market value since its ICO, while BONK remains relatively stable with a market value of $2.1 billion.
!7388154
The Victory and Defeat of Attention Economy
Pump.fun once gained an advantage through network effects, but attention is fragile. An incident during a live broadcast gave users a reason to try alternative platforms, and Let'sBONK quickly became the "clean" choice.
Pump.fun attempts to reverse the situation by increasing the token buyback ratio and launching incentive programs, but these tactical adjustments cannot address the strategic issues. In contrast, Let'sBONK has built a truly user-aligned ecological reward system, including lock-up rewards and a points system.
!7388155
A Bigger Picture
In the digital market, a dominant position can vanish in just a few months. The success of Let'sBONK is not only due to building a better product but also because it entered the market at the most vulnerable moment of Pump.fun's reputation.
Despite a significant shrinkage in market share, Pump.fun still has a chance to turn things around. They have ample capital reserves, a mature technological foundation, and brand recognition as a category creator. The recently launched Pump.fun 2.0, increased buyback ratio, and user incentive programs all demonstrate their determination to fight back.
The most likely scenario in the future is market fragmentation, with Let'sBONK becoming the main platform, while Pump.fun transforms into a niche platform with loyal users. However, to truly turn things around, Pump.fun needs to rebuild trust and reclaim cultural high ground, which may require a complete overhaul of its leadership.
In this power transition, we once again witness an ancient truth: when rulers lose legitimacy, only new leadership can regain respect. To sustain the kingdom, sometimes the crown must change hands.
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