LetsBonk (@bonk_fun) has overtaken PumpFun (@pumpdotfun) as the leading memecoin launchpad on the Solana blockchain, marking a historic shift in the market. Initially holding over 60% market share in early July 2025, PumpFun's dominance steadily declined as LetsBonk surged to capture more than 70% of daily launchpad volume and over 61% of Solana launchpad revenue by mid-July. LetsBonk surpassed PumpFun in key metrics including 24-hour revenue, trading volume, token launches, and token graduations. On July 6, LetsBonk flipped PumpFun’s market share with 46% compared to PumpFun’s 42.9%, and subsequently increased its lead to 54% market share and $1 million in daily fees, more than doubling PumpFun’s $443,000. By July 22, LetsBonk controlled approximately 64% to 78.5% of the market share, with PumpFun trailing between 19% and 21.3%. The rapid growth of LetsBonk has been accompanied by significant token activity, with over 130,000 tokens launched on LetsBonk in a week compared to 77,000 on PumpFun, and a higher number of token graduations (1,243 vs. 622). LetsBonk also outperformed Ethereum in 24-hour revenue, highlighting its rising prominence in the memecoin ecosystem. The $BONK token, associated with LetsBonk, has experienced substantial gains, reaching a market capitalization exceeding $3 billion and becoming one of the top 40 cryptocurrencies by market cap. In response to its growth, LetsBonk announced that 1% of its total revenue will be redirected from marketing funds to buy back top tokens within its ecosystem, aiming to reinforce its market position. Despite PumpFun's efforts, including a planned token generation event (TGE) and maintaining more active traders, the launchpad has seen a decline in daily token launches, dropping below 10,000 for the first time in 10 months. The combined launchpad market remains dominated by these two platforms, which together account for approximately 85% of Solana memecoin launchpad activity. The competition between LetsBonk and PumpFun underscores a dynamic and rapidly evolving memecoin launchpad landscape on Solana.