Solana Meme Coins Stirring Again: What's Behind the Renewed Activity

Solana's meme coin ecosystem has shown signs of life after a slow period earlier this year, but it's not entirely clear what's driving the renewed activity.

The infrastructure supporting Solana's meme coins is active again, with PumpSwap processing $16.7 billion in volume over the past 30 days and generating $56.2 million in fees.

Pump.fun itself generated $24.1 million in fees over the same period, but its graduation rates remain low, at just 0.198% in a recent study of 832,941 launches between May 8 and June 10.

The established meme coins BONK and WIF provide a benchmark for judging whether the new activity represents a broader revival.