How Solana Became the King of Meme Coins Overnight
Solana recently hit a record high after the launch of the $TRUMP coin on its native blockchain, positioning the network as a key player in the meme-coin boom.
The sudden surge in meme coins, fueled by looser regulations and growing interest, is expected to benefit Solana’s blockchain significantly. Experts believe the network could experience continued growth, especially with the potential approval of an ETF in the future.
Solana’s Big Weekend
The meme-coin frenzy reached new heights when Donald Trump, just days before his return to the White House, launched his own cryptocurrency, $TRUMP, on the Solana blockchain. First Lady Melania Trump followed suit with her own token, $MELANIA.
Both tokens saw their market capitalizations balloon into the billions within days, only to crash dramatically around the time of the inauguration. Despite the volatility, the event significantly boosted Solana’s visibility and demand for its native token, $SOL.
Over the same weekend, $SOL surged to an all-time high of $294, accompanied by a trading volume exceeding $50 billion, according to a report by Bernstein. Since Solana’s native token is required to pay fees for transactions on its blockchain, the sudden demand for meme coins drove a sharp increase in $SOL usage. The activity was so intense that it caused outages in the leading crypto exchange, Coinbase.
“We need to scale our infrastructure and provide better native support for decentralized exchange (DEX) and meme-coin trading,” Coinbase CEO Brian Armstrong wrote on X (formerly Twitter).
The Rise of Meme Coins on Solana
Crypto analysts suggest that Solana’s role in the meme-coin market is far from over. With pro-crypto regulations anticipated under President Trump, the environment may encourage a new wave of meme coins. The success of $TRUMP has already inspired numerous imitators, with other quirky tokens like “fartcoin” gaining momentum.
“Memecoins are just getting started,” said Joe McCann, founder and CEO of digital assets investment firm Asymmetric. “Trump’s own meme coin has opened the door for anyone—brands, influencers, or individuals—to create their own tokens.”
McCann noted that as more meme coins are launched on Solana, the demand for $SOL will rise for two key reasons: transactions on the network require $SOL, and liquidity pools for meme coins are often paired with Solana’s native token.
Solana’s Competitive Edge
Solana’s blockchain has gained popularity among retail investors for its speed and affordability compared to competitors like Ethereum. The network enables transactions at lightning speed, costing just fractions of a penny—an essential feature for meme coins, which often see high volumes of rapid trading.
“Memecoins typically start as nano-cap assets but can quickly achieve massive market caps based on activity and interest,” McCann explained. “No other blockchain offers the fast and cheap user experience that Solana does, making it the ideal home for meme coins.”
Zack Shapiro, head of policy at the Bitcoin Policy Institute, echoed these sentiments, pointing out that the ease of creating tokens on Solana has made it even more attractive. Platforms like pump.fun, a Solana-based token creation tool, have made it “trivially easy” for creators to launch new meme coins.
The Road Ahead for Solana
Despite its current momentum, questions remain about the long-term sustainability of the meme-coin trend. Shapiro noted that while Solana has gained significant traction, the passing of a market structure bill in Congress could alter the crypto landscape.
Still, the outlook for Solana appears positive. Under the previous administration, $SOL faced challenges as it was classified as an unregistered security. However, President Trump has appointed a crypto-friendly SEC chair, which could clear regulatory hurdles for the token.
Additionally, the possibility of a Solana-based exchange-traded fund (ETF) has sparked optimism. If approved, such a fund could drive institutional investment in $SOL, similar to the success of Bitcoin and Ethereum ETFs over the past year.
For now, Solana continues to shine as the meme-coin market expands, solidifying its position as a blockchain built for speed, efficiency, and innovation.
