Solana's meme coin launchpad Pump.fun is losing market share to LetsBonk.fun ahead of its token generation event, where it aims to raise up to $4 billion.
At present, LetsBonk.fun holds 54% market share compared to Pump.fun's 36%. LetsBonk.fun has a 24-hour trading volume of $539 million, while Pump.fun's volume stands at $438 million.
Critics, including Solana influencer Lynk, have labeled Pump.fun's upcoming token sale as a 'final scam,' criticizing its extraction of funds from the Solana ecosystem without community incentives.
Crypto influencer Unipcs predicts that LetsBonk.fun will maintain dominance due to its alignment with creators and community support, suggesting that Pump.fun may struggle to recover its lost market share post the token generation event.