Solana Memecoin Deployments Double as Bitcoin Nears $100,000

Coin WorldFriday, May 16, 2025 7:33 pm ET
2min read

In March 2025, the deployment of memecoins on the Solana blockchain began to rise significantly, preceding Bitcoin's (BTC) price surge. This trend was evident as BTC approached the $100,000 mark in mid-May, with token deployments on Solana increasing in tandem. The data from CryptoRank and Dune Analytics showed a clear upward trend in both BTC's price and the number of deployed tokens since March. By May, the number of token launches had doubled from the previous month, crossing 50,000 deployments. This surge in activity on Solana indicates a growing developer interest and momentum within the memecoin ecosystem, independent of Bitcoin's price movements.

New tools and platforms have played a crucial role in lowering the barriers to token creation, contributing to the uptick in memecoin activity. Platforms like Pump.fun, Boop, and Believe have enabled faster and more efficient token launches, becoming central to the growing memecoin wave even before BTC's price rally. Pump.fun, in particular, has been the leading platform for token launches, but it now faces strong competition from Boop and Believe. On May 13, 2025, out of 37,800 newly created tokens, 21,700 (57%) were launched through Pump.fun, while Boop and Believe accounted for 18% and 13% respectively. This shift in user preferences highlights the diversification of the memepad landscape, with creators exploring alternative platforms for broader reach and faster execution.

The Believe app has emerged as a significant player in the memecoin market, processing over 670,000 transactions and generating $7.04 million in fees in a single day. Token creators received $3.52 million of that amount. The app's direct integration with social media platforms enables quick token creation from social media accounts, attracting users who previously lacked access to tokenization tools. This simplicity and speed have helped the platform gain traction, contributing to increased network traffic and transaction volumes on Solana. As more users create tokens, the overall liquidity and activity across the Solana chain are supported, further driving the memecoin ecosystem's growth.

The recent surge in Bitcoin's price has had a notable impact on the Solana memecoin market, driving an increase in token deployments. As Bitcoin approached the $100,000 level in mid-May, the number of tokens launched via Solana memecoin launchpads showed a clear correlation with the rising price of Bitcoin. This trend highlights the interconnected nature of the cryptocurrency market, where the performance of one major asset can influence the activity and interest in other digital assets. The competition among Solana memecoin launchpads is expected to continue, with new features and innovations being introduced to attract users and developers. Pump.fun recently teased a new community takeover feature for revenue share, following the launch of creator revenue sharing. This move aims to enhance user engagement and incentivize participation in the platform. As the market evolves, it will be interesting to see how these launchpads adapt and innovate to maintain their competitive edge.