Memecoin volume on Solana hits seven-month high as speculative frenzy reignites

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%. The catalyst for the latest wave appears to be ANSEM, a memecoin that surged approximately 299% in a single week during July. Platforms like Pump.fun and its successor PumpSwap have been central to the action, channeling hundreds of millions in daily DEX volume, and have been instrumental in reactivating wallets that had gone quiet during the spring lull. S...