It turns out memecoins really don’t know how to stay quiet. After stumbling earlier this month, Solana’s launchpad Pump.fun has stormed back into the spotlight. The platform pulled in a jaw-dropping $13.48 million in revenue between August 11 and Sunday, its best performance since February.
Not long ago, things looked rough. From July 28 to August 3, Pump.fun scraped together just $1.72 million, its weakest week since March 2024. That sharp decline mirrored a broader memecoin meltdown: CoinMarketCap reported that the sector’s market cap collapsed from $77.7B to $62.1B in just one week, vaporizing nearly $16B.
Yet, like a true memecoin hero, Pump.fun shook it off. By mid-August, it wasn’t just surviving, it was thriving.
The Solana launchpad throne is reclaimed
In the quirky world of Solana launchpads, Pump.fun and LetsBonk have been duking it out for bragging rights. Back in July, LetsBonk surprised everyone by knocking Pump.fun out of the top spot, seizing 24-hour revenue dominance and keeping the crown through much of the month.
But Jupiter’s latest data tells a different story. Pump.fun is back on top, commanding a 73.6% market share over the past week with a massive $4.68B in trading volume, alongside 1.37M traders and 162K token mints.
Meanwhile, LetsBonk, its loudest rival, could only muster 15.3% market share, with $974M in volume, 511K traders, and a modest 6,000 mints. For now, it seems Pump.fun has reminded everyone who the real boss is.
Lawsuits, slot machines, and high stakes all for Pump.fun
Of course, no comeback story in crypto is complete without controversy. Pump.fun is still battling a class-action lawsuit that accuses it of using aggressive “guerrilla marketing” tactics to lure traders into what plaintiffs call an “unlicensed casino.”
The amended complaint even described Pump.fun as a “rigged slot machine”, where only early birds profit while latecomers get dumped on. The lawsuit claims losses tied to the platform already exceed $5.5B.
Despite these legal fireworks, Pump.fun hasn’t lost its shine. According to Dune Analytics, the platform’s lifetime revenue has already crossed $800M, proving that people are still lining up to play the risky game.
Pump.fun & Memecoins aren’t done yet
Even amid the drama, industry figures see potential in Pump.fun. Solana Labs co-founder Anatoly Yakovenko recently chimed in, saying the platform has a real shot at growing into something much larger:
“It has a shot at building a global streaming platform.”
Big words, considering we’re still talking about a launchpad that pumps out meme-fueled tokens. But in crypto, stranger things have happened.
For now, Pump.fun looks unstoppable. The real question is whether it can keep minting millions while dodging lawsuits, or whether this ride ends like most memes do: with a laugh and a crash.
