The meme coin market cap dropped more than 16%, from $71.69 billion to $60.07 billion, over the last seven days.
Introduction
There’s been a massive shakeup in the meme coin sector this week as Pump.fun token rumors abound—just as protocol revenue drops 66%.
First praised and then blasted for its role in the popularity of meme coins earlier this year, Pump.fun is apparently trying to raise $1 billion for a token launch at a $4B valuation.
Pundit commentary has been mixed, with some praising it, and others absolutely hating it.
Is this the final extraction deathblow for meme coins, or the beginning of a revival?
Also, in another politics-meme coin mashup we didn’t ask for, the Central African Republic announced that over 1,700 hectares of land will be tokenized using the meme coin, CAR. Top signals, anyone?
7-Day Meme Coin Market Snapshot
The meme coin market cap dropped more than 16%, from $71.69 billion to $60.07 billion, over the last seven days.
The top meme coin gainers stumbled out of the gate early in the week but then the sector quickly found its footing and surged in a surprising rally. However, almost all are still down over the last seven days.
Source: CoinMarketCap
The crypto blue chips, Bitcoin, Ethereum, Solana, XRP and BNB, have not left the range they've been grinding through for nearly a month. Among them, Solana is clearly dragging its feet, despite ETF dreams and the news that its Seeker phone is shipping on August 4. Even the buzz around Pump.fun’s headline-grabbing $1 billion token sale could not spark any excitement, CoinDesk reported.
Meme Coin Market vs Other Crypto Sectors
DeFiLlama's Narrative Tracker showed that memes did not move this week and were ranked 20th again. Seriously though, when’s the last time anyone checked in on MustStop(Supercycle)Murad?
The 30-day trajectory hasn’t regained momentum just yet, but hey, it’s still riding nearly 40% in the green, so no complaints there.
Source: DeFiLlama
Top 20 Meme Coin Leaderboard
The top meme coins all took a hit this week, except for SPX6900, the lone fish swimming against the current.
Meme Coin Charts: 7-Day Insights
Meme coins are still mostly stuck in the mud while FARTCOIN let it rip in the wrong direction, dropping nearly 30% this week and down 40% from its May 23 peak.
Biggest Gainers
- SPX6900 (SPX): +9.58%
Biggest Decliners
- Fartcoin (FARTCOIN): -28.61%
- Brett (BRETT): -27.73%
- Mog Coin (MOG): -24.89%
- Peanut the Squirrel (PNUT): -23.27%
- Bonk (BONK): -22.77%
Meme Coins by Chain
Solana Memes
Ethereum Memes
- Neiro (NEIRO) gained 10%, which is impressive looking at the state of the meme market.
BSC Memes
- BUILDon (B) is on fire, up another 7% as their massive $1 million Incentive Campaign officially goes LIVE, and they’re just getting started!
Base Memes
- Aerobud (AEROBUD) rose 6% while they found their inner peace.
What Can You Do Next?
- DYOR before aping any tokens; meme coins are extremely risky.
- Keep an eye on the Pump.fun token launch rumours.
- Meme coins are volatile. Make sure to have a diversified portfolio.
- Consider reinvesting some profits into safer crypto tokens or stables.
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