Remember just a few months ago, memecoins were hitting the stratosphere just from launching on Pumpfun?
In the midst of said raise, Bonk — a close competitor to Pumpfun- is rising in popularity.
As per AIXBT, Pump.fun has been losing market share. From its early days, its market share reached as high as 90%. But as of today, top creators are leaving the Pump.fun platform. This has caused their market share to plummet to as low as 24%.
Bonk has emerged as a serious contender to Pump.fun. As mentioned earlier, top creators are now flocking to the Bonk platform. In short, Bonk is very similar to Pump.fun. Both are memecoin launchpads built on Solana, targeting the retail crypto audience.
However, the key difference between Bonk and Pump.fun is in their tokens. Firstly, Bonk already has an existing token $BONK. As a strong meme coin sitting at #67 in market cap, the Bonk project has been around for some time. On the other hand, Pump.fun has not yet launched its $PUMP token.
Secondly, $BONK has a great use case for Bonk’s memecoin launchpad. For all the launch fees earned, a portion of these goes to buying back and burning $BONK. This reduces its circulating supply and, in turn, drives up the price of the $BONK token. BONK is up 330% since April.
To conclude, Bonk is now leading in the number of memecoin token launches, platform revenue, market share, and token graduation rates. But will Bonk maintain its lead? Or will Pumpfun come up with something to regain its lead on the memecoin launchpad market?
PUMP TGE will happen today. Can it sustain 0.006? Probably not. 33% of the total supply is getting unlocked at a 50% profit. It will be decent if PUMP holds up to $0.004 in the short term.
We have skipped the PUMP sale for the same reasons.
Note: We drafted the post a few days ago. Pump token has dipped even more. This proves that bad tokenomics can not be sustained. We are not looking to enter PUMP anytime soon. The project is slowly losing narrative, and the competition is much stronger.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies presented are the thoughts and opinions of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments; therefore, please conduct your due diligence. Copyright Altcoin Buzz Pte Ltd.
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pumpdotfun about to raise $700M at $4B valuation as the platform literally dies • 88% of top creators already LEFT for competitors • market share crashed from 90% to 24% in weeks • it's just a basic raydium wrapper with bots launching tokens every 3 minutes • BONK already Show more
