Solana memecoin platform LetsBonk overtakes Pump.fun in 24-hour revenue

Solana-based memecoin launchpad LetsBonk has overtaken Pump.fun in daily revenue. Data from decentralized finance (DeFi) analytics platform DefiLlama reveals that LetsBonk generated $1.04 million in revenue over the past 24 hours, nearly doubling Pump.fun’s $533,412 collections during the same period.

According to Dune Analytics data, LetsBonk facilitated the launch of 18,093 memecoins within a single 24-hour period, far ahead of other launchpads in terms of coin creation. The defi platform is now third on Solana’s 24-hour revenue charts, behind trading app Axiom ($1.72 million) and token launchpad Raydium ($1.33 million.)

LetsBonk launched on April 25, branding itself a “self-serving launchpad for memecoins.” The platform’s developers reckoned it was built to counteract “predatory practices in memecoins.” 

In a statement made at the time of launch, the LetsBonk team said, “We believe memecoins are here to stay and want to offer an alternative platform that believes in Solana for the long term.”

Pump.fun still leads all-time revenue, but activity is plummeting 

Despite the impressive 24-hour performance by LetsBonk, Pump.fun still holds the advantage over a broader timeframe. Over the past 30 days, DefiLlama data shows Pump.fun pulled in over $37 million in revenue, while LetsBonk accumulated $4.5 million during the same period.

In early May, LetsBonk integrated with Raydium’s new LaunchLab contract to help users tap into liquidity pools and use bots more effectively and to simplify the coin launch process for novice and experienced users.

“I believe that Solana developers and NFT developers are two groups. There is some overlap between them, but obviously, these are two different types of developers. BONK has connected the two groups, turning phones into NFTs, and BONK holders have to pay attention to the mobile app ecosystem,” said Solana Labs co-founder Toly in a podcast interview with Bankless.

According to Coinmarketcap’s Q2 2025 review, Pump.fun’s activity went down in the first half of the year due to reduced interest in Solana memecoins. However, the platform still collected over $37 million in revenue over the past 30 days.

In June, Pump.fun announced its intention to raise $1 billion at a $4 billion fully diluted valuation. Naysayers called the move a “max extraction” event, spreading the sentiment that the platform prioritized profit over utility and completely ignored what the community had been asking for.

Pump.fun has also begun migrating its tokens to Pump.Swap a native decentralized exchange. This cuts Raydium out of the post-launch equation, allowing Pump.fun to own the launch-to-trade pipeline. 

BONK counts profits as Solana memecoins struggle

BONK has enjoyed a three-month price rise in tandem with LetsBonk’s success. At the time of this publication, BONK is trading at $0.00002332, a 23% increase since the launch of LetsBonk in late April.

According to Coingecko data, BONK has surged by 60% in the last seven days and over 118% since April 8. On the 4-hour chart, the token is showing signs of upward momentum with increased volume and a positive MACD crossover. 

Alright, $BONK 4hr chart looking spicy! Clear bull run with volume surge & strong MACD. BUT, RSI at 78.70 is screaming caution, very overbought. Chasing highs is risky business. I'd eye a dip to 0.000022 for potential entry. Always manage risk! #BONK #Solana pic.twitter.com/TgcoG2iJ25

— Ai4Alpha (@Ai4Alpha) July 7, 2025

Still, the Relative Strength Index (RSI) currently sits at 74.6, placing the token firmly in overbought territory, a signal that could cause a near-term price correction in the negatives.

According to the CMC 100 Index, which tracks the top 100 cryptocurrencies by market cap, memecoins have returned poorly in 2025. While the index posted a modest 1.8% gain year-to-date, the average memecoin in the CMC 100 is down 28.5%.

Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are deep in the red compared to their January highs, each declining between 48% and 51%. 

The OFFICIAL TRUMP (TRUMP) memecoin experienced a short-term surge in April after chatter about accumulation tied to a dinner event spread on social media, but has otherwise seen a steady downtrend since its launch at the beginning of the year.

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