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Memecoins Add $17B Value
The memecoin market is witnessing a roaring comeback in July. According to data from CoinMarketCap, the total market capitalization of memecoins surged by a staggering 29% this month — jumping from $55 billion on June 30 to $72 billion as of July 17, marking an increase of almost $17 billion in just over two weeks.
This remarkable growth trend reflects the increasing appetite for speculative digital assets in a climate of renewed crypto enthusiasm. Daily trading volumes for memecoins have also skyrocketed, reaching $18 billion on Thursday, the highest in 30 days. Saturday marked the second busiest trading day with $17.09 billion in memecoin volume.
Veteran players like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have all shown healthy upticks in the last seven days. But newer and mid-cap memecoins are stealing the spotlight with aggressive growth and heightened trading activity.
Bonk and LetsBonk Lead
Leading the charge is Bonk (BONK), a Solana-based memecoin that surged an eye-popping 72% over the past week. This surge can be directly tied to the breakout success of LetsBonk, a newly launched memecoin platform that offers a simplified launchpad for new meme assets on Solana.
LetsBonk has turned into a phenomenon of its own — rapidly gaining users, projects, and developers interested in launching memecoins without complex setup processes. On July 7, LetsBonk surpassed the long-dominant Pump.fun in daily volume, becoming Solana’s top memecoin launchpad for the day.
Notably, other weekly gainers include:
- Floki (FLOKI): +45%
- Pudgy Penguins (PENGU): +58%
These tokens have benefited not only from renewed investor interest but also from the expanding utility and ecosystem developments around their communities.
Pump.fun vs LetsBonk Stats
Though LetsBonk made headlines for outperforming Pump.fun in 24-hour activity, the broader race for dominance among Solana memecoin launchpads remains tight and nuanced.
According to DefiLlama, LetsBonk recorded an impressive $8.25 million in protocol revenue over the past 7 days — outpacing Pump.fun’s $4.91 million. This indicates strong demand and user activity around newly launched tokens on LetsBonk’s platform.
Meanwhile, Jupiter, the DEX aggregator, shows that LetsBonk currently holds a 51.9% market share, while Pump.fun is slightly behind at 39.5% in 24-hour launchpad market share. Volume-wise, LetsBonk registered $838 million compared to Pump.fun’s $638 million.
However, Pump.fun still dominates in long-term metrics:
- 30-day revenue: $29 million (vs. LetsBonk’s $12.1M approx.)
- 24-hour traders: 413,000 (vs. LetsBonk’s 275,000)
- Liquidity: $510 million vs. LetsBonk’s $53 million
These figures suggest that while LetsBonk has generated momentum through fresh interest and viral traction, Pump.fun continues to benefit from deeper liquidity pools and a larger, more loyal user base.
Ethereum Rally Boosts Sentiment
While much of July’s memecoin growth has been attributed to Solana-based launches, Ethereum’s recent price rally has also played a significant role in lifting sentiment across the crypto spectrum.
At the time of writing, Ether (ETH) trades at over $3,400, marking a 22% increase in just the past week. The sharp rise in Ethereum’s price has a spillover effect on the memecoin market, particularly Ethereum-native tokens like Shiba Inu, Pepe, and Floki.
Ethereum’s surge improves overall crypto market confidence and increases available capital for speculative altcoin plays, such as memecoins. This dynamic is particularly strong among younger or retail investors who often favor high-volatility, high-reward assets — the core profile of meme tokens.
With Ethereum climbing and Solana hosting breakout tools like LetsBonk, the memecoin market now stands at a key intersection of on-chain activity, community hype, and speculative energy.
Closing Thoughts
The memecoin sector is once again proving that it is more than just jokes and internet culture — it’s also a legitimate source of revenue, speculation, and community engagement in the broader Web3 economy.
While it’s unclear how long this rally will last, the combination of high-growth platforms like LetsBonk, surging token prices, and Ethereum’s momentum suggest that memecoins are enjoying their strongest moment since early 2024.
Investors should remain cautious, as volatility remains a central feature of the sector. But for now, July belongs to memecoins — and the $72 billion market cap milestone could be just the beginning of a new meme-fueled chapter in crypto.