Hyperstition #41 — June 30, 2025
Moonshot launchpad challenges Pump.fun market share, and more.
Moonshot launchpad challenges Pump.fun market share
Moonshot Create topped 33% of new token launches within 24 hours of debut, cutting into Pump.fun’s market share.
The new launchpad saw early success with multiple 7- and 8-figure tokens, including GET RICH QUICK and Mooncoin.
Moonshot launched its memecoin creation platform, Moonshot Create, on June 27, immediately taking market share from dominant Solana launchpad Pump.fun.
Within 24 hours of launching, Moonshot hosted roughly 33% of all new token launches, reducing Pump.fun’s share from nearly 90% to around 62%, according to data from Dune Analytics.
Solana launchpad LetsBonk accounted for most of the remaining activity.
As of June 30, Moonshot claims approximately 17% of market share. Pump.fun has partly rebounded to nearly 78%, the data shows.
‘Normie’-friendly launchpad
Moonshot Create allows users to launch memecoins directly from its mobile app using Apple Pay, requiring only a photo upload and tap to mint a token.
The platform sets a higher bar for token graduation than competitors: new coins must reach a $1 million market cap before becoming tradable on Meteora, a decentralized exchange.
In contrast, Pump.fun allows tokens to graduate at around $60,000 in market cap, with trading then shifting to its own platform, PumpSwap.
Multimillion-dollar runners
The stricter threshold on Moonshot partly accounts for the strong performance of graduated tokens.
Within 72 hours of launching Create, Moonshot supported several high-performing tokens, including GET RICH QUICK (RICH), Mooncoin (MOONCOIN), Monke Phone (MONKEPHONE), and Mooncat (MOONCAT).
As of late afternoon June 30, they trade at approximately $12 million, $4 million, $27 million and $1.5 million, respectively, according to data from DexScreener.
Mooncoin, one of the earliest and most visible tokens on Moonshot, has been informally adopted as the platform’s mascot, similar to Launchcoin’s relationship to Believe.
Launch Coin on Believe (LAUNCHCOIN) reached a $300 million market cap earlier this year, setting a precedent for platform-affiliated tokens.
Attracting creators
The app also introduced a fee structure aimed at attracting creators. New tokens pay a 0.5% swap fee until bonded to a liquidity curve. Once bonded, fees drop to 0.3%, and creators can earn up to 50% of swap revenue.
Verified tokens—those reaching $1 million in fully diluted value—are eligible for placement in Moonshot’s discovery feed, which the company says boosts visibility and liquidity.
Pump.fun responded to Moonshot’s launch the same day with an announcement it called “Pump.fun 2.0,” highlighting recent feature rollouts including a mobile token feed, one-click buying, and a trending news section. Many of the listed features had already been introduced gradually over prior months.
If Moonshot continues to attract new traders and support high-profile tokens, it could split Solana’s launchpad landscape between crypto-native users and first-time retail participants.
Early results suggest the Moonshot’s focus on mobile onboarding and simplified UX is resonating. However, Pump.fun still has the pole-position among crypto-natives.
By The Numbers
