Memecoin trading on Solana just hit levels not seen since January, with weekly spot DEX volume surging past $5.2 billion in mid-August. The network that once seemed to be cooling off from its speculative heyday is heating up again, fueled by viral tokens, reactivated wallets, and platforms purpose-built for degeneracy.
As recently as late May, weekly memecoin volume on Solana had cratered to roughly $1.8 billion. That’s nearly a threefold increase in under three months.
The numbers behind the revival
Solana processed a record 4.2 billion onchain transactions in July, representing a 13.5% jump from the prior month and up 91% compared to December 2025.
During the week of July 20-26, memecoins accounted for 29% of all spot DEX volume on Solana, the highest share since August 2025. On certain days, that figure briefly spiked to 42%.
