Solana Memecoins Defy Gravity—Daily Volume Rockets 46% as Crypto Spring Returns

Solana’s meme economy just got a shot of adrenaline. Trading activity for its irreverent tokens spiked nearly half last month—right as Bitcoin shook off its bear-market hangover.

Who needs fundamentals when you’ve got animal spirits? The network’s degenerate casino saw punters pile back in, proving once again that crypto’s risk appetite heals faster than Wall Street’s bruised egos.

Watch the suits dismiss this as ’irrational exuberance’ while quietly FOMO-ing into their third SPAC this quarter.

Lack of confidence despite boosted volume

Weekly volumes also show consistent growth since bitcoin bottomed on April 7. Memecoin weekly trading activity showed an average increase of 16% as of the week ending May 18.

Between May 12 and May 18, Solana-based memecoins reached nearly $24 billion in weekly volumes. This is the highest level since the week ending on Feb. 16.

In the last week of April, memecoins represented 61.5% of all volume traded on Solana, the highest proportion since the week ending on Feb. 16.

Despite the market starting to decrease on Feb. 1, after President Donald TRUMP signed an executive order making trade tariffs official, the plunge in Solana’s memecoin activity happened only two weeks later.

On Feb. 14, Argentinian president Javier Milei endorsed the LIBRA memecoin as a way to fund small ventures in the country. 

Although the token’s market cap reached $4.5 billion, its price crashed 95% only two days after Milei’s mention. 

A few days later, a report by Nansen highlighted that two wallets profited over $10 million with the token. The addresses bought LIBRA right after Milei’s endorsement and sold at the exact $4.55 peak.

The incident prompted rumors of heavy insider activity on Solana’s token launches, which caused a major dent in investor confidence, which has yet to recover to levels seen before the incident.