INSUBCONTINENT EXCLUSIVE:
Automated bots are likely behind most tokens that launch on the memecoin creation tools Pump.fun and LetsBonk, says an executive at crypto
Grogan posted to X on Monday.He shared a chart with data showing that the top accounts on LetsBonk had, on average over the last day,
launched a total of 4,281 tokens in the past 24 hours.Data on Dune Analytics shows that the all-time top token creator on the platform has
The second biggest token creator has launched just under 2,400 tokens, but was the top creator wallet over the last 24 hours, launching
nearly 500 tokens in one day
Pump.funLetsBonk has beaten Pump.fun in revenue and in the number of tokens deployed over the last 24 hours.DefiLlama shows that LetsBonk
the number of tokens deployed, with the platform seeing over 22,000 tokens launched compared to just over 9,800 on Pump.fun on Monday,
according to Dune data.Memecoin market share continues dropHowever, the total market value of memecoins has continued to drop over the last
day as traders continue to shift focus away from the highly speculative sector.The market capitalization of memecoins dropped 2.6% to $54.7
billion over the last day, according to CoinMarketCap.The total market value of memecoins saw a slight jump in April around the launch of
Source: CoinMarketCapIt continues a general decline the segment has seen since hitting a peak value of $127.3 billion in December, nearly a
year after Pump.fun launched in January 2024
It was at the peak of its popularity amid a wider market boom at the time.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging
