Memecoin Launchpads Take Aim at PumpFun’s Dominance

As life returns to the memecoin trenches, launchpad activity is picking back up, but this time, it's not all concentrated on the incumbent platform, PumpFun.

Competing launchpads such as Raydium’s LaunchLabs and Bonk’s Let’s Bonk platform are gaining traction amid the market recovery.

LaunchLabs, which went live on April 17, recorded $94 million in DEX volume over the last five days, almost 20x the $5 million in volume it processed over the previous five days.

Meanwhile, Let’s Bonk, a token launchpad incubated by the Bonk Inu memecoin team, released on April 25, and the platform quickly spawned two memecoins that surpassed the $20 million market capitalization mark.

In order to differentiate themselves from PumpFun, which frequently catches flak over selling large quantities of SOL that it generates from fees, Let’s Bonk contributes a portion of its fees to the Solana network and towards buybacks and burns of the BONK memecoin.

The platform’s first breakout token is LetsBONK – named after the platform and launched by an anonymous creator – which surged as high as a $38 million valuation before retracing significantly. The platform also produced HOSICO, a cat-themed memecoin that currently trades at a $37 million valuation.

Traders are also looking forward to the launch of Boop.fun, a memecoin launchpad built by the ex-CRO of Binance and founder of BNB-based DEX PancakeSwap, known as Dingaling.

Boop.fun is set to include a revenue-sharing model and token buyback system, which will see BOOP token stakers earn 5% of the total supply of all newly graduated tokens on its platform, and 60% of liquidity provider (LP) fees.

The memecoin market as a whole has shown signs of strength, led by Housecoin, the first new token in months to break through the $100 million market capitalization barrier. Existing memecoins are also performing decently, led by FARTCOIN and its massive rally off the lows to a $1.2 billion valuation.