BonkFun, a Solana-based memecoin launchpad, has overtaken PumpFun in multiple key performance metrics, including monthly revenue, market share, token launches, and trading volume. Over the past month, BonkFun generated seven times more volume and six times more revenue than PumpFun, reaching an all-time high market share of 88.8%. BonkFun has maintained dominance in daily graduate tokens with an 85% market share and 82% dominance in active addresses. Meanwhile, PumpFun has experienced a steep decline, with daily revenue falling 95% from $7 million in January to $307, marking its lowest revenue in 10 months. Despite increasing buybacks of its $PUMP token—using up to 100% of daily revenue recently—PumpFun has struggled with user losses, trading below its ICO price, and ongoing token dumps to centralized exchanges. Moonit has also surpassed PumpFun in launchpad market share and trading volume, indicating a shift in the competitive landscape. BonkFun’s rise reflects growing user engagement and capital inflows into its ecosystem, while PumpFun faces challenges in regaining its position.