Meme Coins Dominate Solana (SOL) DEX Volume, Here's What It Means

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Solana (SOL) presents scary trend with meme coins

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One major limitation that pushed some innovators out of the Ethereum ecosystem in search of new alternatives is its congestion woes. The first quarter of this year was challenging for Solana with the explosive meme coin market. With dedication and the right push, Solana developers finally launched a major fix on the mainnet. It is, however, worth noting that reliance Per the data shared by Wazz, the dominance share of meme coins on Solana grew from 25% in November 2023 to the 90% seen today. This is a major leap in an extremely large unpredictable asset class.

 

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