The memecoin market has added nearly $17 billion in value since the beginning of July, climbing from a $55 billion market cap on June 30 to $72 billion as of Thursday—a 29% increase.
According to CoinMarketCap, trading activity in the memecoin sector has also picked up significantly this month. On Thursday, 24-hour trading volume surpassed $18 billion, marking the highest daily volume in the past 30 days. The second-highest was recorded on Saturday, reaching $17.09 billion.
Top memecoins like Dogecoin, Shiba Inu, and Pepe have all posted strong gains over the past week. However, the biggest weekly winners were Floki, up 45%, Pudgy Penguins (PENGU) with a 58% jump, and Bonk (BONK), which led the pack with a 72% surge.
LetsBonk generates twice the 7-day revenue of Pump.fun
Bonk’s rapid growth is largely driven by the rising popularity of LetsBonk, a Solana-based memecoin launchpad backed by the Bonk token. On July 7, LetsBonk overtook Pump.fun—previously Solana’s leading memecoin launchpad—in 24-hour trading volume, disrupting the platform’s dominance on the network.
According to recent data from DeFiLlama, LetsBonk generated $8.25 million in protocol revenue over the past seven days, significantly outpacing Pump.fun’s $4.91 million.
According to data from decentralized exchange (DEX) aggregator Jupiter, LetsBonk captured a 51.9% market share in the past 24 hours, outpacing Pump.fun’s 39.5%. During the same period, LetsBonk recorded $838 million in trading volume, surpassing Pump.fun’s $638 million.
Despite LetsBonk’s growing momentum, Pump.fun continues to lead in several key areas. DeFiLlama data shows Pump.fun remains the top launchpad by 30-day protocol revenue, bringing in nearly $29 million.
Jupiter data also reveals that Pump.fun still dominates in daily user activity, with 413,000 traders compared to LetsBonk’s 275,000. Additionally, Pump.fun holds a significant advantage in liquidity, reaching $510 million—almost ten times more than LetsBonk’s $53 million.
Ethereum rally fuels memecoin surge
While Solana’s ecosystem has played a key role in the memecoin market’s recent upswing, Ethereum’s strong performance may also be driving gains across the sector.
As of now, Ether is trading above $3,400, marking a more than 22% increase over the past week.
