Solana meme tokens reached another milestone, as their market capitalization rose to a new all-time high. Meme tokens are also boosting fee activity on Solana, including the main net, DEX, routing services, and the Jito validator.
Solana-based meme tokens broke to a new all-time high above $12B in total market capitalization. The memes drove Solana traffic in the past month, leading to new activity records. After also appreciating on DEX and centralized markets, Solana memes also make up around 20% of the total meme market cap.
Overall, meme assets broke above $60B again, driven by a renewed Dogecoin rally. However, Solana memes also have the most active new creation and launch schedule, providing a constant mix of potential rising stars, but also risky rug pulls. Solana’s relatively low fees and intuitive usage have boosted the chain’s position ahead of other networks for meme token creation.
Solana’s meme activity also lifted Jito as one of the top 3 producers of fees. The relatively accessible memes still require priority fees and bribes to be traded successfully on Raydium. As a result of Solana meme activity, Jito produced $3.94M in daily fees, slightly down from a recent record of $4.16M in daily fees.
The success of memes is also driving up the SOL market price. After the recent record in meme value, SOL also expanded to $179.80, faster than the overall market recovery.
Solana blue chip memes still draw buyers
The Solana list of memes reflects the top winners on social media as well. At the top, DogWifHat (WIF) shows the potential of true-believer projects. WIF makes up more than $2.2B of the meme token market cap on Solana.
POPCAT is a close contender, after expanding its market cap to $1.6B. Most of the Solana tokens grew their following and fame in the past year, and are now competing among each other for attention.
The big exception on Solana is GOAT, the AI-inspired token. With a market cap of $690M, GOAT is now in the top 5 of Solana meme tokens. The new asset even surpassed previous leaders like SLERF and BOME.
The list of the most visible memes includes communities like MICHI, MOODENG, and Retardio. The top selection of Solana assets is heavily influenced by the list of Murad Mahmudov, also including the Gigachad (GIGA) token.
Solana memes contain almost no representation of PolitiFi tokens, instead relying on communities, illogical narratives, Internet fame, or shock value.
Solana memes gain boost from GIGA listing on Kraken
The Solana chain may be receiving thousands of new meme tokens, but few graduate to centralized exchanges. GIGA is one of those tokens, which already moved into the top 10.
The latest attention on Solana’s meme ecosystem led GIGA to a Kraken listing, though with geographic restrictions. GIGA traded near its all-time high at $0.05, but is yet to achieve a more significant breakout.
As more tokens get listed on centralized markets, they start trading like more established altcoins. Instead of unpredictable price discovery and vertical rallies, the assets rely on more strategic trading moves.
Solana’s trend misses out on the SPX6900 community, which is still represented on Ethereum. Only a part of the SPX token supply is bridged on Solana, but for now cannot compete with older, more liquid assets.
Older memes regain interest
The selection of successful memes is even more dependent on mindshare and social media activities. There is no hard and fast rule that only new hot memes will make gains.
In the past week, the Dogecoin (DOGE) rally also reawakened older memes. The mindshare of more established tokens is growing, signalling a rollover into those tokens.
https://x.com/_kaitoai/status/1851221470384455814
Some of the older memes have Solana versions, which may also get a periodic boost. In the past days, Solana also remains a fast-track pathway for new memes. Even within a day, a Solana meme can break out into the top 20, as in the case of Luce (LUCE), the Vatican mascot for 2025. Only a few hours passed between the appearance of Luce and the launch of a meme token.
