Pump.fun has surged to dominate the Solana memecoin launchpad market, increasing its share from 5% to 90% within two weeks, while competitor LetsBonk has seen a significant decline. The shift is attributed to token buybacks and the departure of top memecoin deployers from LetsBonk, prompting speculation about the future strategies of both platforms.

Google searches for memecoins indicate a renewed interest among retail investors, although the current level of enthusiasm is not as intense as the peak seen in January. The infrastructure supporting memecoins has improved, providing users with more options and strategies than before, despite the risks associated with previous speculative bubbles.

Despite a recent surge in memecoin prices, retail interest in cryptocurrencies remains low, with search volumes for key terms like "memecoin," "bitcoin," and "ethereum" failing to rise. App rankings for crypto trading platforms have also stagnated, indicating that the current market rally is largely driven by crypto-native investors and institutions rather than retail participation.

The popular Solana memecoin launchpad pump.fun and its founder Alon Cohen have had their accounts suspended on X, along with several other memecoin services, raising concerns about regulatory scrutiny and potential illegal activities. Despite the ban, the pump.fun platform remains operational, but it has faced criticism for being associated with scam cryptocurrencies and risky investment schemes.