If you’ve been keeping an eye on the wild world of memecoins, you might have missed a hidden gem: the $GP token from Graphite Protocol. A recent tweet by AshRobin on July 27, 2025, sheds light on why this token could be undervalued and overlooked, especially with its ties to the booming Letsbonk platform on Solana. Let’s break it down in a way that’s easy to digest, even if you’re new to the crypto scene!

The Letsbonk Connection

Letsbonk, powered by Graphite Protocol, is making waves with an impressive $112.78 million in 24-hour volume. That’s a huge number, and it’s not just noise—Letsbonk currently holds about 80% of the Solana memecoin market share. To put that in perspective, this platform is the go-to spot for memecoin launches right now. On top of that, it generated $1.43 million in fees over the same period, according to data pulled from the Letsbonk website.

What does this mean for $GP? Graphite Protocol owns a big chunk of the tech behind Letsbonk, and SolportTom, the owner of GP, is steering the ship. As long as Letsbonk keeps raking in revenue, money flows back into the $GP ecosystem.

The Buyback Magic

Here’s where it gets exciting: 7.6% of those fees are funneled into buybacks for $GP. With $1.43 million in fees daily, that translates to roughly $106,000 worth of $GP tokens bought back every day—or about $745,000 per week! In the crypto world, buybacks are like a company buying back its own shares to boost value. By reducing the supply of $GP tokens, this strategy could drive up demand and, potentially, the price. With a current circulating market cap of $180 million, these buybacks could be a game-changer.

Comparing Launchpad Success

To see how $GP stacks up, let’s look at other memecoin launchpads. The tweet highlights some interesting stats:

• BelieveApp ($LAUNCHCOIN)​: With a $92 million market cap, it had zero graduates (successful launches) in the last 24 hours.
• Pumpfun: Boasting a $965 million market cap, it managed 18 graduates.
• Letsbonk: With a lower market cap tied to $GP, it crushed it with 158 graduates in the same timeframe.

This shows Letsbonk’s efficiency and popularity, which directly benefits $GP. More launches mean more activity, more fees, and more buybacks—creating a virtuous cycle.

Why $GP Might Be Undervalued

So, why isn’t everyone talking about $GP? The tweet suggests it’s still flying under the radar. With Letsbonk dominating Solana’s memecoin space and a solid buyback mechanism, $GP offers exposure not just to launches but to the infrastructure yield from Solana’s memecoin frenzy. Compare that to Pumpfun’s massive market cap with fewer graduates, and it’s clear $GP might be a steal at its current valuation.

What’s Next for $GP?

The crypto community is buzzing about this. Replies to the tweet range from excitement (“riding $GP to Valhalla”) to calls for diversification, but the consensus is that $GP’s potential is tied to Letsbonk’s continued success. If the platform keeps its momentum, the steady inflow of buyback funds could push $GP’s value higher over time.

For blockchain enthusiasts and memecoin fans, keeping an eye on Graphite Protocol and its $GP token could be a smart move. Whether you’re a seasoned trader or just dipping your toes into crypto, understanding these dynamics can help you navigate the ever-evolving memecoin landscape.

Ready to dive deeper? Check out more insights on memecoins at meme-insider.com and join the conversation on what’s next for $GP!