Meme tokens are back in the driver’s seat on Solana. After months of declining interest that saw meme dominance crater below 10% in late 2025, speculative trading now accounts for roughly 42% of all daily decentralized exchange volume on the network.
The numbers tell a clear story of revival. Pump.fun, which includes the PumpSwap platform, has contributed approximately $492 million to Solana’s total daily DEX volume of about $1.178 billion, according to DefiLlama data.
The meme cycle refuses to die
Memes dominated over 70% of Solana DEX volume back in December 2024. Then came the hangover. By late 2025, meme token dominance had collapsed below 10%. Pump.fun’s daily volumes, which had hit an all-time high exceeding $2 billion in early January 2026, saw a sharp pullback.
One token in particular helped spark the latest wave. ANSEM surged approximately 299% within a single week in July, lifting trading volumes across Pump.fun’s entire platform and bringing dormant traders back to the table.
