Memecoins Spread Across Multiple Blockchain Networks Driving Rapid Token Creation

Memecoins, once confined to specific blockchain networks, are now spreading across multiple ecosystems. Dogecoin had its own network, Ethereum hosted tokens like Shiba Inu, and Solana became a hotspot for rapid token creation. However, memecoin activity is now increasingly multichain, with traders and launchpads operating across Solana, BNB Chain, Base, and newer networks, allowing capital to move quickly between them.

The scale of token creation highlights this trend. On September 30, MemeFees recorded over 85,000 token launches, and by October 1, more than 73,000 launches were already logged. Lower transaction costs are encouraging this experimentation, as networks with inexpensive fees support frequent trading and rapid token creation without high costs.

Solana remains a key example, setting a record on September 9 with over 263,000 new SPL tokens issued in a single day. Pump.fun alone accounted for 34,184 of these tokens. Token launchpads are driving this activity by automating token creation, liquidity, and trading. MemeFees data from September 25 showed over 80,424 launches across 16 platforms, with Pump.fun leading at 34,420 launches.

Liquidity is also moving between chains. Solana’s 30-day DEX volume reached USD 75.42 billion in September, with 27.2% of tracked spot-DEX volume attributed to memecoin pairs. BNB Chain has seen renewed activity, with average daily fees paid to its launchpads increasing from USD 98,000 in June to USD 1.59 million during September 1-26.

The expansion across networks introduces risks, such as similar token names across multiple chains, increasing the importance of verifying contract addresses. Bridges and wrapped assets introduce smart-contract risks, while liquidity distributed across several networks can make markets thinner. High launch volumes also mean traders must distinguish genuine communities from short-lived speculative tokens.