Hey there, meme coin enthusiasts! If you’ve been keeping an eye on the Solana blockchain, you’ve probably heard about the buzz surrounding Pump.fun and Bonk. These two meme coins are making waves in the crypto world, and a recent thread by DeFi expert Ignas (@DefiIgnas) on X has sparked some interesting discussions. Let’s break it down and see what’s happening with $PUMP and $BONK in July 2025.

The Fee Breakdown: Pump.fun’s Performance

Ignas shared some eye-catching charts that show how Pump.fun is holding up in terms of fees. The first image highlights the daily fees generated by different protocol versions, with a notable spike on July 21, 2025. Here’s what we see:

• PumpSwap: Raking in $581.2k on that day.
• pump.fun: Bringing in $539.88k.

This data suggests that Pump.fun’s newly launched DEX (decentralized exchange) is pulling its weight, generating about 50% of the total fees. That’s a smart move, as it diversifies revenue streams. However, weekly fees are trending downward, sitting at a still-respectable $10.2M. From the total 0.3% swap fee, 0.05% goes to the team, with 25% of that funding $PUMP buybacks. Pretty clever, right?

Market Cap and Token Distribution

Now, let’s talk numbers. $PUMP is trading below its initial coin offering (ICO) price, with a market cap of $1.3B and a fully diluted valuation (FDV) of $3.6B. That’s a wild 322x increase from its seed valuation of $12M! But here’s the catch: private sale investors hold 18% of the total supply, which might raise some eyebrows among those wary of centralized control.

On the other hand, $BONK boasts a $2.5B market cap (with a $3B FDV) and is known for its wider token distribution. This OG Solana meme coin has a strong community backing, which could give it an edge over $PUMP in the long run. Ignas notes that Pump.fun ranks 17th in the crypto industry for fees, just behind Bonk, which is steadily gaining market share.

What Does This Mean for Investors?

So, is $PUMP a hidden gem or a risky bet? The DEX launch is a positive sign, showing adaptability and revenue potential. But trading below ICO price and the concentrated private holdings might make some investors cautious. Meanwhile, $BONK’s community strength and broader distribution could keep it ahead in the meme coin race.

The thread sparked a lively debate on X. Some users, like @DjaniWhaleSkul, are waiting for a potential airdrop to gauge $PUMP’s future, while others, like @Informer_Dex, jokingly dubbed it “$DUMp” due to its current dip. Opinions are split, with a few optimistic voices like @fwtroyse seeing a possible bounce back above ICO price.

Why It Matters for Meme Coin Fans

Meme coins like $PUMP and $BONK thrive on hype and community support, but the data shows they’re also building real utility with their DEX platforms. If you’re into DeFi or just love a good meme coin story, keeping an eye on their fee trends and tokenomics is key. Pump.fun’s 322x growth from its seed round is a testament to the explosive potential of this space, but it also highlights the volatility we all know and love (or fear!).

What do you think? Are you betting on $PUMP to pump up again, or is $BONK your pick for the top Solana meme coin? Drop your thoughts in the comments, and stay tuned to meme-insider.com for more updates on the wild world of meme tokens!