The memecoin sector has seen a massive resurgence in July, with its total market capitalization rising 29% to hit $72 billion, up from $55 billion at the end of June. This sharp rise has been driven by high trading volumes, explosive growth in newer tokens, and increased launchpad activity on the Solana and Ethereum blockchains.
Bonk Leads the Rally With 72% Weekly Surge
The standout performer in July has been Bonk (BONK), which surged 72% in just seven days, becoming the top gainer among all major memecoins. This growth coincides with the rise of LetsBonk, a Solana-based memecoin launchpad that has significantly disrupted the ecosystem’s launchpad rankings.
Bonk’s ecosystem traction helped it outperform other top gainers such as:
- Pudgy Penguins (PENGU): +58%
- Floki (FLOKI): +45%
- Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) also posted notable weekly gains.
LetsBonk Overtakes Pump.fun in Key Metrics
On July 7, LetsBonk surpassed Pump.fun — previously Solana’s leading memecoin launchpad — in 24-hour trading volume. According to DeFiLlama, LetsBonk earned $8.25 million in protocol revenue over the past 7 days, compared to Pump.fun’s $4.91 million.
Jupiter, a decentralized exchange aggregator, also reported:
- LetsBonk’s 24-hour market share: 51.9%
- Pump.fun’s 24-hour market share: 39.5%
- Volume: LetsBonk reached $838 million vs. Pump.fun’s $638 million
While LetsBonk is gaining momentum, Pump.fun remains dominant in 30-day protocol revenue ($29M) and trader count (413K vs. LetsBonk’s 275K). It also maintains significantly higher liquidity, standing at $510 million, compared to LetsBonk’s $53 million.
Ethereum Rally Adds Momentum to Memecoin Sector
Although Solana-based projects have been in the spotlight, Ethereum’s recent price surge may have indirectly supported increased capital flow into memecoins. A broader risk-on environment and meme-driven community enthusiasm continue to be key drivers behind these moves.
Conclusion
The 29% growth in the memecoin market cap in July underlines how fast sentiment can shift in the crypto space. With Bonk’s ecosystem expanding and LetsBonk challenging established platforms, the memecoin sector may remain a hotspot for both traders and developers looking to tap into viral token trends.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.