Solana's decentralized exchanges are seeing a striking comeback in meme token trading, which now represents about 42% of total daily volume. This surge follows a period of steep decline that pushed meme dominance below 10% at the end of 2025.
Meme Tokens Drive a Huge Share of Solana's DEX Volume
The Pump.fun ecosystem, including PumpSwap, is responsible for nearly half of daily activity on Solana's DEXs. According to DefiLlama, Pump.fun's daily volume is close to $492 million out of the $1.178 billion total across the network.
This resurgence contrasts sharply with the previous year when meme tokens accounted for over 70% of Solana DEX volume in December 2024 but then collapsed. Pump.fun experienced a peak daily volume of over $2 billion in early January 2026, only to pull back dramatically afterward.
Solana's Edge in Meme Token Trading
Solana's low fees and fast execution make it a hotbed for meme token speculation. Pump.fun has streamlined the creation and listing of new tokens, effectively industrializing meme launches and attracting both new and returning traders.
A notable catalyst for the recent upswing was ANSEM, which jumped nearly 300% in one week in July, boosting trading volumes across Pump.fun's platform. Solana DEXs registered approximately $50.3 billion in volume over the past 30 days as of late July 2026.
The meme market’s volatility is evident: dominance swung from 70% to under 10% within a year, and current daily volumes remain below earlier 2026 highs. Investors may find these dynamics critical when evaluating Solana’s trading environment and the speculative nature of its meme tokens.
