Bots have taken over the memecoin market on Pump.fun and LetsBONK. | Credit: Getty Images.
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Key Takeaways
The memecoin market is now dominated by bots, not people.
Most new tokens on Pump.fun and LetsBONK are being created automatically.
Just five months ago, humans were behind the bulk of memecoin launches.
Back in January, the memecoin craze was already cooling off, down 80% from its peak. However, while the hype faded for many retail traders, something else quietly took over: bots.
What used to be a playground for meme-loving internet users has turned into a highly automated ecosystem. Bots—and increasingly, AI agents—are now behind most new token launches on platforms like Pump.fun and LetsBONK.
According to data shared by Conor Grogan, the shift has been drastic. In January, individual users were still behind most memecoin launches, some even launching dozens per day.
Fast forward to July, and bots have completely taken over. One top wallet launched 491 tokens in a single day on LetsBONK—roughly one every 2.9 minutes. Across the top 13 wallets, over 4,200 tokens were launched in just 24 hours.
Token creation is now an arms race, fully automated, lightning-fast, and far beyond what any human could do.
Total tokens created by wallet addresses. Source: X.
The Cultural Side of Memes Is Getting Lost
Scaling through automation is great in many parts of crypto, but in memecoins, it’s starting to feel like a race to the bottom.
Memecoins began as a cultural phenomenon, built on inside jokes, irony, and viral energy.
Bots don’t do any of that, they’re just programmed to launch and dump, turning memes into disposable financial products.
As one user put it: “Memecoin frenzy is primarily bot warfare. These graphs demonstrate automation rather than creativity.”
The numbers back that up. Over 2.3 million memecoins were launched during the 2023–2024 cycle, with a 300% spike in early 2024 alone. But very few survived more than a week—let alone made it to a centralized exchange.
Is This the End of the Meme Market?
Like every hype cycle, this one seems to be running out of steam. With bots flooding the market and the novelty wearing off, the memecoin space is starting to feel more synthetic than social.
It’s not dead, but the golden age of meme-driven tokens might already be behind us.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
