pump.fun vs LetsBonk vs Bags vs Believe: which launchpad's coins have cleaner holders?
Every Solana launchpad comparison lists fees, bonding curves and creator rewards. None of them says what the holders look like once a coin is live. Whodl records the launchpad on every coin it scans, so it can.
How coins are grouped
Whodl reads the program that created each coin and groups them:
- pump.fun: coins created on pump.fun's bonding curve, including ones that later migrated to PumpSwap.
- LetsBonk / Raydium LaunchLab: coins created through Raydium's LaunchLab, the program behind LetsBonk.
- Bags: coins created through Bags.
- Believe / Meteora: coins created through Meteora's dynamic bonding curve, the program behind Believe and others.
- Other: everything else Whodl could identify.
The comparison
| Launchpad | Coins | Median same-block supply | Median top 10 share | Median dev share | Median fresh-wallet supply |
|---|---|---|---|---|---|
| pump.fun | not enough data yet | not enough data yet | not enough data yet | not enough data yet | not enough data yet |
| LetsBonk / LaunchLab | not enough data yet | not enough data yet | not enough data yet | not enough data yet | not enough data yet |
| Bags | not enough data yet | not enough data yet | not enough data yet | not enough data yet | not enough data yet |
| Believe / Meteora | not enough data yet | not enough data yet | not enough data yet | not enough data yet | not enough data yet |
And for coins first seen at least a week ago:
| Launchpad | Aged coins | Doubled after first scan | Died after first scan |
|---|---|---|---|
| pump.fun | not enough data yet | not enough data yet | not enough data yet |
| LetsBonk / LaunchLab | not enough data yet | not enough data yet | not enough data yet |
| Bags | not enough data yet | not enough data yet | not enough data yet |
| Believe / Meteora | not enough data yet | not enough data yet | not enough data yet |
"Doubled" means the peak market cap reached 2x the first-scan market cap; "died" means the latest market cap is 20% or less of it. Where a launchpad shows "not enough data yet", Whodl has not scanned enough of its coins to say.
Reading the differences
- Sample sizes differ a lot. pump.fun produces far more coins than the others, so its row is the most stable. A launchpad with a few dozen coins can swing week to week.
- These are coins people asked about. A launchpad whose coins get checked mainly when they are trending will look different from one whose coins get checked at launch.
- Launchpad rules shape the numbers. Creator fee splits, curve design and migration thresholds change how much a dev keeps and how early bundles can buy. See how a Solana memecoin launch works.
The point
The launchpad tells you the launch mechanics, not the holders. Two coins from the same launchpad can look nothing alike. Use the table to know what is typical, then read the coin itself: top 10 share, bundled supply and the dev's record. Every coin page under coin reports names its launchpad.
How this guide was made: written by Jack Shard with AI assistance, based on the measurements Whodl makes. Last reviewed Oct 22, 2026. Details on the about page.