Solana DEX volume sees 42% from memes as trading activity revives

Meme tokens are back in the driver’s seat on Solana. After months of declining interest that saw meme dominance crater below 10% in late 2025, speculative trading now accounts for roughly 42% of all daily decentralized exchange volume on the network.

The numbers tell a clear story of revival. Pump.fun, which includes the PumpSwap platform, has contributed approximately $492 million to Solana’s total daily DEX volume of about $1.178 billion, according to DefiLlama data.

The meme cycle refuses to die

Memes dominated over 70% of Solana DEX volume back in December 2024. Then came the hangover. By late 2025, meme token dominance had collapsed below 10%. Pump.fun’s daily volumes, which had hit an all-time high exceeding $2 billion in early January 2026, saw a sharp pullback.

One token in particular helped spark the latest wave. ANSEM surged approximately 299% within a single week in July, lifting trading volumes across Pump.fun’s entire platform and bringing dormant traders back to the table.

Why Solana keeps winning the meme trade

Solana’s low transaction fees and rapid execution make it the ideal playground for high-frequency speculation. Pump.fun has essentially industrialized the meme token launch process, making it trivially easy to create, list, and trade new tokens.

Looking at the broader picture, Solana DEXs reported approximately $50.3 billion in volume over a 30-day period as of late July 2026.

What this means for investors

The swing from 70% meme dominance in December 2024 to below 10% by late 2025 happened in roughly a year. With total daily DEX volume at $1.178 billion and Pump.fun contributing $492 million of that, the current activity level sits well below the $2 billion daily highs from earlier in 2026.

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