Another Solana Memecoin Ecosystem Gains Traction After US Class-Action Lawsuit Targets Pump.fun

BONK.fun ecosystem’s market cap skyrocketed as a US court progressed the Pump.fun litigation.

• BONK.fun ecosystem market cap jumped nearly doubled to about $241 million within 24 hours.
• The surge followed a U.S. court allowing a second amended complaint in the Pump.fun lawsuit.
• Traders appeared to rotate toward alternative Solana memecoin platforms amid legal uncertainty.
  
  

The BONK.fun ecosystem’s market capitalization nearly doubled on Tuesday night, soon after a U.S. class-action lawsuit targeted Pump.fun, Solana Labs, and other parties.

According to Coingecko data, the overall market cap of the BONK.fun ecosystem surged by about 98.5% in one day, reaching about $241 million. The trading volume also shot up as a number of BONK-related tokens saw big gains. BONK.fun, which is also known as LetsBONK.fun, is a Solana (SOL)-based memecoin launchpad and trading platform. Many people think it is a direct competitor to Pump.fun.

BONK.fun’s native token BONK was trading at $0.058555, down 0.8% over the past day. On Stocktwits, retail sentiment around BONK rose to ‘bullish’ from ‘bearish’ over the past day, while chatter around the cryptocurrency remained in ‘low’ levels.

Meanwhile, SOL was trading at $127.66, up 0.3% over the past day. Solana’s price was among the top 10 trending coins on Stocktwits, coming 4th. However, on Stocktwits, retail sentiment around SOL remained in ‘bearish’ territory with ‘low’ levels of chatter over the past day.

The Pump.fun Lawsuit

The rally occurred after a federal court in New York ruled that the plaintiffs could file a second amended complaint in a lawsuit first filed in January 2025. Diego Aguilar and Michael Okafor are two of the plaintiffs who said that Pump.fun, Solana, and associated entities let insiders get early access to new tokens. This allowed them to buy them at low rates and then sell them when prices rose, inflicting financial losses on retail investors.

According to the court documents shared by Burwick Law, new claims have been added, including almost 5,000 internal chat records from a private source that the plaintiffs say reveal that platform users are working together. The lawsuit also discusses Solana Labs' infrastructure and validator mechanics, as well as tools developed by Jito Labs, saying that these made it easier for insiders to process transactions faster. 

Market watchers and the crypto community seemed to think that the legal change could be bad news for Solana. An X user and Cradano ambassador named Pete said on X that this lawsuit “could get ugly for Solana” and “could even begin its downfall.”

On the other hand, BONK.fun's ecosystem got more attention, and investors seemed to have moved to other Solana-based memecoin platforms like BONK.fun. Notably, Pump.fun and other defendants denied misconduct in previous proceedings.

As per AMBCrypto, in July 2025, BONK.fun momentarily overtook Pump.fun in 24-hour revenue, generating $1.32 million, reflecting 61% of total sales volume versus Pump.fun, which consisted only of 19%.

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