Memecoin Market Cap Jumps 32% with BONK at the Forefront of Gains

The memecoin market has grown rapidly over the last 30 days, with new data showing a sharp rise in both value and trading activity. During this period, the total market cap increased by more than 32%, including a 22% jump in just the last 7 days. These figures, pulled from CoinMarketCap, show how strong the momentum has become.

Memecoin Market Soars in July

The memecoin market has seen major growth in recent weeks. Since the beginning of July, its total value has jumped from $51 billion to $73 billion by mid-month. This surge shows renewed investor and trader interest in these internet-driven tokens. Over the past 30 days, trading volume has also soared, rising more than 170%, according to market data.

That momentum peaked on July 17, when trading volume crossed $18 billion in a single day. Just days earlier, on July 11, trading activity was also strong, reaching $17.09 billion. These back-to-back spikes suggest strong and steady demand, with billions in capital flowing through the memecoin market.

Key Memecoins and Their Performance

Leading memecoins such as Dogecoin, Shiba Inu, and PEPE remain major players. Over the past week, each of these tokens gained ground. Dogecoin posted a 19% increase, while Shiba Inu grew by 15%. PEPE saw a stronger weekly return, rising by 24%.

Even so, these top names weren’t the week’s best performers. Other coins outpaced them by a wide margin. BONK gained 70% within the same seven-day period, while FLOKI rose 41%, and PENGU added 22%. 

Behind BONK’s surge is LetsBonk. Built on Solana, the platform helps users launch their own memecoins. The link to BONK has helped the token climb fast, with investor interest growing quickly in recent days.

As of July 7, LetsBonk had overtaken Pump.fun in terms of daily transaction volume. The platform’s revenue has also moved ahead. Over the last week, LetsBonk generated more than $8 million, while in the last 24 hours alone, the platform earned over $1 million.

Pump.fun, during the same time, recorded just over $4 million in seven-day revenue and $846,733 within the last day.

Crypto content creator Crypto Dios noted that BONK’s performance looks similar to its breakout in early 2024. At that time, the token followed a similar trend and later surged by 250%. He believes BONK is again building momentum and could be preparing for another strong run.

LetsBonk Takes Lead, But Pump.fun Holds Strength

The battle between LetsBonk and Pump.fun is gaining steam, with each platform showing strength in different areas. From daily volumes to user activity, the numbers reveal a fierce rivalry in the memecoin launch space.

So far, here’s what the figures are saying:

• LetsBonk now leads the launchpad market share with 54.8%, while Pump.fun trails behind at 38%.
• In the last 24 hours, LetsBonk processed $906M in volume, outdoing Pump.fun’s $628M for the same period.
• Pump.fun pulled in $29M in 30-day revenue, maintaining solid earnings despite losing some ground.
• User activity is strongest on Pump.fun, which saw 413K traders in 24 hours, ahead of LetsBonk’s 275K.
• Liquidity remains Pump.fun’s edge, holding $512M in funds, while LetsBonk lags far behind with just $53M.

With these two platforms pushing each other, the competition could lead to even better options for users. More trading choices, faster launches, and higher liquidity are all possible outcomes. That, in turn, might keep attracting new capital into memecoins.