Coinbase Exec Exposes Bot Dominance: 90% of Pump.fun & LetsBonk Tokens Are Algorithmic Puppets

The meme coin circus has a new ringmaster—and it's not human. A Coinbase executive just pulled back the curtain on Pump.fun and LetsBonk's token launches, revealing a bot-dominated playground where algorithms outnumber organic projects 9-to-1.

Behind the memes: These platforms—once hailed as democratizing crypto—are now overrun with automated token factories. The exec's claims suggest most 'community-driven' launches are actually algorithmic smoke and mirrors.

Wall Street's ghost in the machine: While traditional finance wastes millions on human quants, crypto's degenerate little brother cracked the code—automated pump-and-dumps at scale. The ultimate 'efficient market hypothesis' stress test.

LetsBonk catches up with Pump.fun

For the first time, a competitor to Pump.fun caught up with the original platform. After weeks of growth, LetsBonk produced over 22K new tokens for the day, also surpassing the fees of Pump.fun. 

At the same time, Pump.fun slowed down gradually, starting with around 30K daily token launches and falling to 22K new assets daily since the start of July. The platform also sees fewer active token creators. 

LetsBonk also has the advantage of a native token. The platform’s launch and expansion boosted BONK, lifting volumes close to a three-month high.

BONK is at its highest price in a month, trading at $0.000022. It rallied as a tool for exposure to the meme platform, while Pump.fun is still contemplating the decision to launch a native token. 

Who are the token launchers on LetsBonk?

Most of the wallets launching hundreds of tokens are newly created and not connected to a specific social media identity. However, the wallet ‘H6Lbvy5FQPfJngUiZfVRpxBP7zC08EGtYnXi2EyyyElr’ is linked to a X handle, @zcwebby. The meme token influencer is no longer active due to a suspended account on X.

Previously, @zcwebby was active during the late 2024 bull market, pumping other assets and often linked to spoof meme tokens. The other address is connected to the identity of @psjkili, a relatively niche crypto influencer. 

LetsBonk attracts bots with its generous reward policy. Top ecosystem participants are rewarded in SOL for both tech and creative efforts. Over 3,419 SOL was rewarded to creators, and 6,685 SOL to the tech side.

For now, the balance on LetsBonk is still being explored, but the presence of bots may increase extraction. After June 10, 58% of all platform fees are shared with BONK holders. Based on the current fee schedule, the platform may generate over $69M on a yearly basis.

Following the latest platform expansion, SOL established itself at $150.40. Solana is also reevaluating its role as a platform, attempting to rebuild DeFi and lending, while letting meme tokens evolve. Solana also saw more active inflows of USDC, with another 250M stablecoins injected recently.

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