The meme‑token locomotive is roaring again. Data from CoinMarketCap show the total memecoin market cap briefly hit $79 billion on July 18—up 43 % from just $55 billion at the end of June and the highest level since late 2024.
The spike extends a month‑long rally fueled by viral presales, community hype and the rise of Solana‑based launchpads that mint new dog‑and‑frog coins almost daily. Yet while retail traders celebrate eye‑popping returns, industry veterans are sharply divided about what the comeback means for crypto’s long‑term health.
Two Very Different Takes on Meme‑Coin Fever
“Capital has nowhere better to flow.”
Anthony Anzalone, CEO of layer‑1 network Xion, slammed the boom as a sign of misplaced priorities:
Memecoins do a phenomenal job of destroying the reputational work many builders have put into legitimizing this industry,” he told Cointelegraph, arguing the rally shows investors “don’t have anywhere better to put their money.
“Still the most attractive segment.”
By contrast, the pseudonymous community lead “S” from Neiro called meme tokens “hot, marketable and easy to understand,” noting projects like Floki and Pudgy Penguins now pair culture with real tech. “When markets hint at positivity, memecoin aficionados rush to deploy capital,” S said.
Petr Kozyakov, CEO of payments firm Mercuryo, struck a middle ground, crediting sentiment and Bitcoin’s new all‑time high for flipping the “memecoin mood” decisively bullish.
How We Got From $55 B to $79 B in Three Weeks
| Driver | Details | Supporting Data |
| Solana launchpads | Low‑fee presale hubs like LetsBonk lowered barriers for new tokens | Solana memecoin volumes up 68 % week‑on‑week |
| Retail FOMO | Tokens such as BONK, WIF and TRUMP notched triple‑digit weekly gains | BONK +79 % in seven days, market cap $3.3 B |
| Cross‑chain listings | Dogecoin and Shiba Inu perpetuals added on major exchanges, boosting liquidity | DOGE open interest at record high, according to MiTrade |
| Presale hype | PUMP ICO raised $500 M in minutes, channeling fresh fiat into meme sector | Referenced by Cointelegraph interview |
Skeptics Point to Recent Pain
Not everyone has forgotten the other side of meme volatility. A July 10 FX Leaders analysis reminded traders that “most major memecoins plunged over 50 %” in H1 2025 as hype cooled and regulation tightened. Analysts warned the category “remains heavily sentiment‑driven and lacking real‑world utility.”
By the Numbers: Today’s Meme‑Token League Table
| Coin | Market Cap (July 18) | 30‑Day Move |
| Dogecoin (DOGE) | $25.7 B | +35 % |
| Shiba Inu (SHIB) | $14.1 B | +41 % |
| Pepe (PEPE) | $7.9 B | +78 % |
| Bonk (BONK) | $3.3 B | +79 % |
| dogwifhat (WIF) | $2.6 B | +92 % |
MEV Bots Take Their Cut
Flashbots data show sandwich bots captured $27 million in value from meme‑pair trades on Ethereum in the past 30 days, with “jaredfromsubway.eth” responsible for 23 % of it. Analysts urge newcomers to route swaps through private RPCs or batch‑auction DEXs like CoW Swap.
What Comes Next? Three Scenarios
| Scenario | Trigger | Market‑Cap Impact |
| Blow‑off Top | Bitcoin retreats below $110 K; risk appetite fades | Memecoin cap retraces to $50 B |
| Sideways Chill | Bitcoin consolidates, but Solana launchpad flow persists | Market cap stabilizes $65‑70 B |
| Further Euphoria | New “viral” token 10× in days; ETFs chase yield via meme baskets | Cap tests $90 B+ by August |
Bottom Line
Whether you see them as digital Beanie Babies or on‑ramps for the next generation of crypto users, meme tokens are impossible to ignore. Their combined value now rivals the GDP of Sri Lanka—and their future may hinge less on code than on culture and crowd psychology.
For seasoned traders, the $79 billion milestone is a reminder to manage exposure and watch on‑chain flows for early exit signals. For dreamers, it confirms that in crypto, memes remain a market force with real, if volatile, buying power.
Love them or loathe them, memecoins have once again seized center stage—and the debate over their merit is only getting louder.