Analysis: Solana Meme Coin Trading Volume Plummets as Traders Shift to Stable Assets

Jinse Finance reported that the once booming meme coin market on the Solana chain is now showing signs of fatigue. According to data from several analytics platforms, meme coin trading, which earlier this year accounted for more than 60% of Solana decentralized exchange (DEX) activity, has now dropped to below 30%. This sharp decline follows a wave of speculative frenzy that propelled new tokens to viral success, but also resulted in losses for many retail traders. Analysts now say that after months of overexpansion, the market is undergoing a correction, with liquidity and trading enthusiasm shifting away from speculative tokens. Traders appear to be reallocating funds to more mature markets. The share of stablecoin trading pairs on Solana DEXs has increased, while derivatives of major tokens such as SOL and ETH continue to maintain stable liquidity. Analysts at Kaiko believe this shift reflects broader macro trends, including a rising demand for stability and yield opportunities, as well as ongoing concerns about the high volatility of the meme coin sector.