The Solana memecoin launchpad landscape has undergone a dramatic shift with LetsBonk (@bonk_fun) overtaking PumpFun (@pumpdotfun) as the dominant platform. Since early July 2025, LetsBonk's market share surged from around 25% to an all-time high of nearly 89%, while PumpFun's share plummeted from over 60% to below 11%. LetsBonk has consistently outperformed PumpFun in key metrics including daily token launches, with over 22,000 tokens launched in a single day compared to PumpFun's approximately 10,000; token graduations, boasting up to 8 times more graduates; trading volume, reaching $159 million daily versus PumpFun's $34.3 million; and revenue, generating up to $1.95 million in 24-hour fees compared to PumpFun's $443,000. This surge has propelled the BONK token to a market capitalization exceeding $3 billion, surpassing PumpFun's valuation by 170%, and positioning BONK as one of the top 40 cryptocurrencies globally. The platform has implemented aggressive tokenomics, including substantial fee buybacks and burns, with over $2.2 million in BONK tokens bought back at peak. LetsBonk's dominance has also extended to weekly revenue, trading volume, and active user addresses, even surpassing Ethereum's 24-hour revenue in the memecoin category. The combined launchpad market remains primarily controlled by LetsBonk and PumpFun, accounting for approximately 85% to 89% of activity, though LetsBonk's share continues to widen. Additionally, new entrants like 9GAG's Moonit launchpad have entered the market, flipping Jup Studio in market share and introducing AI-powered meme tokenization on Solana. The evolving memecoin ecosystem on Solana reflects a rapid realignment, with LetsBonk establishing itself as the leading launchpad by multiple performance indicators and driving significant community and developer migration from PumpFun.