Memecoins added another $17 billion to their standing in July alone and now hold $72 billion in market cap.
Bonk led the charge with a 72% surge on the back of its newly created launchpad, LetsBonk.
Collectively, Solana-based launchpads saw record-breaking activity with nearly 20,000 tokens launched in a single day.
Ethereum’s price rise contributed to the increase in interest, and more could be coming.
After a quieter start to the year, the memecoin market has roared back to life. In just the first two weeks of July, memecoins added nearly $17 billion to their total marketcap and have pushed the sector to a massive $72 billion valuation.
This 29% increase from June’s $55 billion cap shows that the appetite for speculative crypto assets is growing. It also shows that the memecoin cycle may be entering a new phase.
Among all the tokens fueling this surge, Bonk (BONK) has been the standout performer. The coin saw a 72% increase in just seven days, and far outpaced other popular memecoins like Dogecoin, Shiba Inu and PEPE.
Bonk’s sudden rise isn't random. Its momentum has been directly tied to the success of its Solana-based launchpad called LetsBonk.
Massive growth on LetsBonk | Source: DefiLlama
On July 7, LetsBonk outperformed Pump.fun, which was previously Solana’s leading memecoin launchpad in 24-hour trading volume. That momentum didn’t stop there. According to DeFiLlama, in the past week alone, LetsBonk generated $8.25 million in protocol revenue, which is nearly double that of Pump.fun's $4.91 million.
Jupiter,on the other hand, showed that LetsBonk held a 51.9% market share, which outpaced Pump.fun's 39.5%. In volume terms, LetsBonk processed $838 million, comfortably ahead of Pump.fun’s $638 million.
While Pump.fun still leads in long-term metrics like liquidity and total monthly revenue, LetsBonk’s rise shows just how fast things move in the memecoin space.
One of the most interesting developments this July, was the record-setting token creation on Solana. On July 16, nearly 19,900 new meme tokens were launched on Letsbonk.fun, which is a single-day high that signals massive interest.
This explosion in activity pushed Solana’s launchpad user base beyond 260,000 daily active addresses, a 60% increase over the previous month.
New users are flooding in and token launches are happening at record rates. Because of this, it is clear that Solana is becoming the home base for memecoin experimentation.
While the memecoin sector as a whole has grown massively, it’s important to note that the current rally isn’t broad-based. Most of the gains have come from standout tokens like BONK, PENGU and FLOKI, which rose 72%, 58% and 45% respectively in just seven days.
Gains from the memecoin sector | Source: CoinMarketCap
In contrast, many lower-tier or newly launched tokens haven’t performed as well. This concentration of returns means that the rally is still in its early phases. This said, for the memecoin sector to reach its previous high of $127 billion, it will need more support across more projects, alongside fresh investor interest.
July has delivered one of the strongest months for memecoins so far, since their boom last year. However, whether this momentum can continue depends on a few factors.
For starters, strength from the Ethereum and Solana ecosystems needs to continue alongside better participation from new users.
The ongoing rally also needs to become more inclusive, and not just affect the top few.
Finally, the sustainability of revenue on launchpads like LetsBonk and Pump.fun needs to become more promising.
Memecoins are performing well in comparison | Source: Coingecko
Overall, if these trends hold, the memecoin market could indeed be headed toward another record-setting year.
With ETH and Solana performing well, the second half of 2025 may see memecoins play an even bigger role in market sentiment.
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