Even during a slowdown in the memecoin frenzy, Pump.fun has positioned itself as a dominant force in the token launch market by earning an average of $1 million in daily revenue. The platform now controls 95% of the daily token graduations, indicating a significant lead over competitors like LetsBonk, Believe, and Moonshot, who had briefly challenged its supremacy during the summer months.
Overwhelming Supremacy in Token Graduations
Pump.fun’s leadership in token launch platforms is particularly evident in the concept of “graduation,” which refers to new tokens attaining sufficient liquidity to be traded on decentralized exchanges such as Raydium. According to data from Dune, this measure reveals which launch platforms generate projects that truly capture interest. Recently, the total number of daily graduations across all platforms has declined to around 100, with the volume stabilizing at approximately $100 million. This decrease in graduation numbers suggests a waning appeal for short-term memecoin-driven speculations.
Pump.fun’s ability to maintain its leadership in this environment demonstrates the strength of its user loyalty and network effect. Despite a decline in monthly revenue from $3 million to $1 million in September, the platform remains at the center of the market’s total activity, drawing attention to its sustained influence.
Widening the Gap with Competitors
The success of Pump.fun is not solely reliant on liquidity or user numbers, but also on the strength of its discovery mechanisms and community resilience. While competitors strive to gain market share, overcoming the ecological advantages created by Pump.fun is becoming increasingly challenging.
Moreover, Pump.fun’s launch model is no longer limited to Solana. Platforms like four.meme in the BNB ecosystem are proving the interoperability of this structure across different blockchains. Despite expansion efforts, Pump.fun’s market dominance indicates a sustainable advantage in memecoin production.