TL;DR
- Memecoin market cap jumped 29% in July, surging from $55 B to $72 B and hitting over $18 B in daily trading volume.
- Legacy tokens Dogecoin, Shiba Inu, and Pepe logged 3–7% gains, while upstart Floki soared 23%, Bonk climbed 8%, and Pudgy Penguins slid 8%.
- Solana’s LetsBonk launchpad overtook Pump.fun in 24-hour volume and weekly revenue, as Ethereum’s 22% rally funnels fresh capital into memecoins.
The memecoin market has erupted in July, adding nearly $17 billion in token valuations over the past three weeks. Buoyed by a wave of speculative buying and fresh retail interest, the memecoin sector’s total market cap has jumped from $55 billion on June 30 to an astonishing $72 billion as of mid-July. Trading volumes have mirrored this frenzy, with 24-hour turnover peaking above $18 billion and showing sustained highs throughout the month.
July Surge Fuels $72B Memecoin Market Cap
July’s rally saw the memecoin arena grow by almost 29%, driven by explosive gains across several major tokens. Dogecoin, Shiba Inu, and Pepe are reporting gains between 3% and 7%, and trading at $0.21, $0.00001451, and $0.00001378, respectively.
Floki surged roughly 23%, trading at $0.0001332, while Pudgy Penguins traded at $0.03113, dropping nearly 8%. The real standout, however, was Bonk, climbing over 8%, exchanging hands at $0.0001332, to become one of the top performers in the memecoin field.
BONK and PENGU Lead the Charge
Bonk’s rise reflects more than just hype: the Solana-based token tapped into a passionate community and a dynamic launchpad ecosystem. Meanwhile, Pudgy Penguins has transformed from a niche NFT play into a bustling token economy, winning over investors who see long-term growth potential. Both tokens have broken into the trillion-token market cap club, underscoring how a compelling meme narrative can translate into real financial heft.
Solana Launchpad Shakeup: LetsBonk vs Pump.fun
A key catalyst behind Bonk’s rally has been LetsBonk, the project’s flagship launchpad. On July 7, LetsBonk overtook Solana veteran Pump.fun in 24-hour volume, $838 million versus $638 million, and protocol revenue. In the past week, LetsBonk generated about $8.3 million versus Pump.fun’s $4.9 million.
Despite this surge, Pump.fun still holds an edge in 30-day revenue ($29 million) and overall liquidity ($510 million), highlighting a tug-of-war that’s reshaping Solana’s memecoin landscape.
Ethereum’s own bullish run has lent extra wind to the memecoin sails. Ether climbed above $3,400 this month, posting a more than 22% gain that rippled across altcoin markets. As investors chase higher returns, capital has rotated into high-volatility tokens, memecoins chief among them.
