Pump.fun's dominance is being threatened by emerging platforms, with daily 'graduation' Token shares significantly declining.

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On May 15, Lookonchain cited Dune data indicating that the dominance of Pump.fun is being challenged by new platforms such as Letsbonk.fun, Believe, and LaunchLab. Currently, among the daily "graduated" Tokens in the market, Pump.fun has dropped from over 98% to 57.5%. Letsbonk.fun accounts for 17.9%, Believe for 12.9%, and LaunchLab for 5%. The most popular memes recently (LAUNCHCOIN, GOONC, DUPE, Hosico, etc.) have all been launched on Letsbonk.fun or Believe.

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