Memecoin Market Swells by $17B in July, Fueled by Bonk and LetsBonk

Memecoin Market Swells by $17B in July, Fueled by Bonk and LetsBonk

July has been a breakout month for memecoins, with the sector’s total market capitalization rising 29% to hit $72 billion, up from $55 billion on June 30, according to CoinMarketCap data.

Driven by a mix of Solana-based activity and Ethereum momentum, memecoins saw a peak 24-hour trading volume of over $18 billion on Thursday—the highest in the last 30 days. The second-highest came just days earlier, clocking in at $17.09 billion on Saturday.

Bonk Leads Weekly Gains as Top Memes Rally

Among the top performers, Bonk (BONK) stole the spotlight with a 72% surge in the last seven days. Floki followed with a 45% increase, while the Pudgy Penguins (PENGU) token jumped 58%. Established names like Dogecoin, Shiba Inu, and Pepe also saw notable upward moves this week.

LetsBonk Disrupts Solana’s Launchpad Landscape

Much of Bonk’s growth can be traced back to the performance of LetsBonk, a Solana-based memecoin launchpad backed by Bonk.

On July 7, LetsBonk overtook Pump.fun—previously Solana’s leading memecoin launchpad—in 24-hour volume, upending the rankings in a highly competitive space.

Revenue Rivalry: LetsBonk vs. Pump.fun

According to DefiLlama, over the last seven days:

• LetsBonk generated $8.25 million in protocol revenue

• Pump.fun earned $4.91 million

Data from DEX aggregator Jupiter revealed that in the past 24 hours:

• LetsBonk commanded a 51.9% market share

• Pump.fun followed with 39.5%

• Volume reached $838 million for LetsBonk, beating Pump.fun’s $638 million

Yet, Pump.fun retains dominance in other areas:

• 30-day protocol revenue sits at nearly $29 million, still higher than any competitor

• 24-hour traders: Pump.fun had 413,000, while LetsBonk had 275,000

• Liquidity: Pump.fun boasts $510 million, far ahead of LetsBonk’s $53 million

Source: CoinMarketCap, DefiLlama, Jupiter

Ethereum’s Rally Extends Fuel to Memecoin Sector

The memecoin rally isn’t only Solana-driven. Ethereum’s recent surge has also pushed investor appetite into higher-risk assets.

At time of writing, Ether was trading above $3,400, up more than 22% over the past week. This broader crypto market enthusiasm is adding momentum to memecoin valuations and trading activity.

Outlook

As LetsBonk gains market share, and Ethereum and Solana ecosystems stay active, memecoins could continue to draw speculative attention—especially with increasing volume and protocol revenue to match.

Whether this growth remains sustainable, however, will depend on broader market conditions and the memecoin sector’s ability to mature beyond viral hype.