Solana Meme Coins Surge 20% as Trading Volumes Exceed $100M

Solana meme coins are experiencing a resurgence in popularity, with daily trade volumes increasing dramatically and most leading tokens posting notable price gains. This trend marks a significant shift after months of decline, driven by various factors including pump-and-dump schemes and tariff-related chaos. However, as macroeconomic fears begin to subside, speculative assets are regaining momentum, contributing to the recovery of the Solana network, which recently hit a 12-month low.

Despite recent controversies, such as the Argentinian LIBRA scandal and tariff-related issues, the volume of trading in Solana meme coins is picking up. Axiom, a meme trading platform, reported a daily trading volume exceeding $100 million for the first time on April 14, accounting for about 50% of the market share of Solana Meme trading platforms. The number of trading users reached 26,800, a record high. This surge in activity is not limited to Axiom; Pump.fun recently launched Pumpswap, a new decentralized exchange that quickly captured 14% of Solana’s DEX market. Trading volumes on PumpSwap surged by 50% on April 15, indicating a broader recovery in Solana meme coin trading.

Data from DefiLlama shows that DEX trading on Solana is starting to recover after a massive drop in March. This recovery is not isolated to specific platforms but is a broader trend across the Solana ecosystem. Individual Solana meme coins are also making significant strides in price performance. In the last week, eight of the ten largest assets in this category posted double-digit gains. One of the two losers this week was TRUMP, which has been adversely impacted by tariff chaos and the latest token unlock. Nonetheless, it managed to achieve a 4.5% price jump. Most of the top ten had gains of over 20% during this period.

This increased network activity is also reflected in Solana’s price. Last week, it began recovering from a 12-month low and has since rocketed up with 20% price gains. For now, it seems like Solana meme coins are eyeing a real comeback, at least for the short term. However, another macroeconomic shock could see these risk assets reacting more severely than the wider market.