PumpFun has emerged as the dominant player in the memecoin launchpad market, consistently capturing the largest market share over several days in August 2025. According to data from JupPro, PumpFun's market share fluctuated between approximately 74.6% and 79% during this period, surpassing competitors such as LETsBONKFUN, Meteora DBC, JUP Studio, and others. On August 25, PumpFun accounted for nearly 90% of total weekly revenue among memecoin launchpads. The platform's strong performance is partly attributed to a strategy of 97% buybacks and a circulating supply of less than $1 billion. In contrast, Bitcoin, despite representing 60% of the total cryptocurrency market capitalization valued at $3.76 trillion, generates only 2% of all crypto revenues, highlighting a disparity between market cap and revenue generation in the crypto space. Additionally, the trading volume of new memecoins significantly outpaces that of newly launched NFT collections, with memecoins achieving in an hour what some NFTs accumulate in a day. Observers note that the distinctions between memecoins and traditional financial stocks are becoming increasingly blurred.