Automated Bots Dominate Memecoin Launches on Pump.fun and LetsBonk
- Coinbase’s Conor Grogan reports that most tokens launched on Pump.fun and LetsBonk are operated by automated bots.
- In the last day, top accounts on LetsBonk created a new token approximately every three minutes, totaling over 4,281 tokens.
- LetsBonk generated $1.23 million in revenue within a day, nearly double that of Pump.fun’s $520,400.
- The total market capitalization of memecoins has decreased by 2.6% to $54.7 billion.
- Since its launch in April, LetsBonk has outperformed Pump.fun with over 22,000 tokens deployed, compared to Pump.fun’s 9,800 tokens.
The rise of automated bots in memecoin creation highlights a shift in the market dynamics as traders move away from speculative assets like memecoins, which have seen a significant decline from their peak value of $127.3 billion.
With the number of tokens launched by bots increasing rapidly and revenue figures showing strong competition between platforms, the future landscape for memecoins may continue to evolve significantly (Source).
