The memecoin market is on fire this July, with a sharp rise in both value and trading activity.
Valuations have swelled by nearly $17 billion in just over two weeks, pushing the total sector cap to $72 billion — a clear reversal from the late-June lull.
While popular tokens like Dogecoin and Shiba Inu are back in the green, it’s the lesser-known names stealing the show. Bonk, Floki, and Pudgy Penguins have outperformed the pack, notching weekly gains of up to 72%.
Driving Bonk’s momentum is the explosive growth of LetsBonk — a new Solana-based memecoin launchpad that’s quickly overtaken established platforms in protocol revenue. Over the past week, LetsBonk out-earned Pump.fun, Solana’s top launchpad, nearly doubling its revenue with $8.25 million.
This unexpected upset has shaken the launchpad hierarchy. LetsBonk also surpassed Pump.fun in recent trading volume and market share, although Pump.fun continues to lead in daily users, liquidity, and 30-day earnings.
Meanwhile, Ethereum’s recent rally has added more fuel to the fire. With ETH soaring above $3,400, speculative energy has spilled over into the meme economy, amplifying interest across both Solana and Ethereum ecosystems.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/memecoin-frenzy-heats-up-as-new-platforms-disrupt-the-market/