Michaela
Summary: What has Coinbase’s head of product revealed about token creation on meme coin launchpads?
Conor Grogan revealed that most tokens on launchpads like Pump.fun and LetsBonk are created and managed by automated bots, with some accounts launching a new token every few minutes. This has led to thousands of tokens flooding the market daily, many of which are short-lived and low-effort. The scale of this activity shows how easily these platforms can be overwhelmed by automation rather than genuine human creators.
Conor Grogan, Coinbase’s head of product, has revealed that most tokens released on meme coin launchpads like Pump.fun and LetsBonk have been generated and managed by automated bots rather than human creators.
On July 7, Grogan posted a chart on X illustrating the number of new tokens launched on LetsBonk within the previous 24 hours. “The top accounts launch, on average, one new token every 3 minutes,” Grogan wrote.
The chart shared by Grogan showed that the leading token creator had launched nearly 500 tokens, followed by a second wallet with 424. In total, the 13 wallets active during the 24-hour period collectively created 4,281 tokens.
Grogan’s recent post on X responded to an earlier statement from January, where he revealed that a single account was responsible for creating 18,000 tokens on Pump.fun. “It appears they wake up and create on average,” Grogan stated. “A dozen … tokens an hour until they go to bed, and then do it again, every day. They’ve done this for months,” he added.
In his January X thread, Grogan further disclosed that the account responsible for the Pump.fun tokens had no followers and had generated $3.76 million in total trades, achieving a 55.57% win rate.
Grogan emphasized the scale of the activity by noting that the individual created more tokens single-handedly than the total number of crypto tokens launched globally between the inception of Bitcoin in 2009 and January 2018.
Meme Coin Launchpads Flooded by Bots as SHIB Champions Intent
The rise in bot-generated meme coins emphasizes a broader concern within the crypto space: how easily meme coin launchpads can be flooded with low-effort, short-lived projects designed more for speculation than substance.
With thousands of tokens being created in a single day, often disappearing just as quickly, the trend reflects a growing culture of automation over authenticity.
In contrast, established ecosystems like Shiba Inu present a different model, one rooted in long-term vision, community involvement, and utility-driven development. Rather than relying on rapid-fire token generation or pump-and-dump tactics, the Shiba Inu project has emphasized transparency, decentralized governance, and a multi-layered ecosystem that includes tokens like SHIB, BONE, LEASH, and TREAT as well as the Layer 2 blockchain Shibarium.
For the SHIB community, the current wave of bot activity serves as a cautionary backdrop. It emphasizes the importance of building with intention and fostering trust, especially in a market increasingly crowded with noise.
Read More
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- Pump.fun Denies Token Launch Amid Legal Challenges and Speculation
- New Shib Rollups Unlocks Custom Blockchains on Shibarium
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
