Memecoins Are Booming: Bonk, Pudgy Penguins, and LetsBonk Drive Market Frenzy

The memecoin market is experiencing another powerful upswing. On Thursday, daily crypto trading volume surged past $18 billion, the highest seen in a month, according to CoinMarketCap. This spike reflects strong market interest and growing momentum across meme tokens.

While familiar names like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) performed well, the week’s standout tokens were Floki with a 45% gain, Pudgy Penguins (PENGU) up 58%, and Bonk (BONK), which exploded with a 72% weekly rise.

Analysts attribute the surge to a mix of speculative buying, rising retail demand, and a generally bullish crypto environment. Memecoins continue to draw attention for their fast-moving price action and growing community backing.

LetsBonk Overtakes Pump.fun in Daily Trading Volume

One of the most noteworthy shifts in the Solana memecoin ecosystem is the rise of LetsBonk. This Bonk-backed launchpad has now outpaced the long-standing favorite Pump.fun in daily volume. On July 7, LetsBonk recorded over $838 million in trading volume, compared to Pump.fun’s $638 million, according to data from Jupiter.

Over the past week, LetsBonk has also pulled ahead in protocol revenue, bringing in $8.25 million versus Pump.fun’s $4.91 million, according to DefiLlama. These figures suggest strong short-term momentum and growing user interest.

Despite these gains, Pump.fun still leads in key areas. It remains dominant in 30-day revenue, generating $29 million, and has a much larger user base, with 413,000 traders compared to LetsBonk’s 275,000. Liquidity is another major factor: Pump.fun holds $510 million in liquidity, nearly ten times LetsBonk’s $53 million.

While LetsBonk is winning in terms of daily action, Pump.fun remains the more established platform with greater infrastructure and long-term support.

Ethereum’s Price Surge Adds Fuel to Memecoin Growth

Ethereum’s bullish breakout has added even more momentum to the memecoin rally. ETH is now trading above $3,400, gaining over 22% in just one week. Analysts point to increased Layer-2 usage, rising DeFi and NFT activity, and the anticipation of Ethereum ETF approvals as drivers behind this upward trend.

The rise of Ethereum has had a direct impact on ETH-based memecoins. As investor confidence returns, traders are expanding their exposure across both Ethereum and Solana ecosystems. This cross-chain synergy is creating ideal conditions for memecoin growth, combining high-speed transactions with strong speculative energy.

What’s Next for Memecoins in July?

If current trends continue, memecoins could maintain their edge over other altcoin sectors. With Ethereum and Solana supporting innovation, liquidity, and strong community engagement, meme tokens are positioned to stay at the center of market attention.

As platforms like LetsBonk grow and blue-chip meme assets like Bonk and Pudgy Penguins continue to surge, the memecoin market appears ready for a strong summer run.