Pumpfun Reclaims 75% of Solana Memecoin Market Despite Legal Turmoil

- Dominates Solana memecoin landscape amidst competition and legal risks - Faces allegations of illegal gambling in expanded RICO lawsuit On October 6, 2025, Cointelegraph reported that Pump.fun has solidified its position as the leading platform in the Solana memecoin market. The platform now captures a 75%-80% market share. Its success stems from key innovations, including low-friction “one-click” token minting and seamless transitions from bonding curves to automated market makers (AMMs). It also offers liquidity-locking features that reduce rug-pull risks. Pump.fun has shown remarkable resilience, even amidst market volatility. Daily fee revenue plummeted by 80% from its January 2025 peak, but the platform rebounded impressively by late August. To achieve this, the company implemented strategic measures, including revenue-funded buybacks of its native token, PUMP, and the launch of "Project Ascend," a new creator payout initiative. By mid-August, Pump.fun reclaimed 74% of launchpad activity within a seven-day window, which generated $13.48 million in weekly revenue. The Solana memecoin market remains fiercely competitive, as platforms like LetsBonk and HeavenDEX consistently challenge Pump.fun's dominance. In July 2025, LetsBonk briefly overtook Pump.fun in daily revenue and token launches. During the same period, HeavenDEX also gained intermittent market share. Nonetheless, Pump.fun maintains its leadership through proactive strategies and an established market foothold. Operational security remains a critical challenge for Pump.fun. In May 2024, an insider exploited security flaws and stole $1.9 million. Similarly, hijackers took over its official social media accounts in February 2025. Although these incidents exposed vulnerabilities, they did not undermine Pump.fun’s overall market position. Legal and regulatory risks represent the most significant threat to the platform. In July 2025, plaintiffs broadened a class-action lawsuit to include RICO Act allegations. The suit claims that Pump.fun, alongside Solana Labs and the Jito Foundation, facilitated an illegal gambling operation and sold unregistered securities. Traders allege losses between $4 billion and $5.5 billion. The case’s outcome could profoundly impact Pump.fun’s future operations and the wider memecoin ecosystem. According to CoinMarketCap, as of October 6, at 17:09 UTC, Pump.fun’s PUMP token trades at $0.006. This marks a 6.89% decline in the last 24 hours, though its trading volume surged by 7.50%. Meanwhile, Solana’s native coin (SOL), the blockchain that underpins Pump.fun, trades at $235.74. This price reflects a 1.98% increase in the same period.