Since July began, the memecoin market has experienced a remarkable increase of nearly $17 billion, reaching a total valuation of $72 billion by Thursday, marking a 29% rise from $55 billion on June 30. CoinMarketCap reports that trading volumes for memecoins in July have surpassed those of the previous month, with a peak of over $18 billion in 24-hour trading on Thursday. Notable memecoins like Dogecoin, Shiba Inu, and Pepe have shown impressive growth, but the standout performers include Floki with a 45% increase, Pudgy Penguins (PENGU) at 58%, and Bonk (BONK) with a staggering 72% rise, largely due to the success of the Bonk-backed Solana launchpad, LetsBonk. This platform has outperformed Pump.fun in trading volume and protocol revenue, generating $8.25 million compared to Pump.fun's $4.91 million in the past week. While LetsBonk is gaining popularity, Pump.fun still leads in 30-day revenue and trader numbers. Read more AI-generated news on: https://app.chaingpt.org/news

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