94.9% of memecoin trading volume flowed through Solana in late 2024 — a staggering market shift.

Théodore Lefevre

Blog

August 25, 2025

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I wrote this Complete Guide to Trading Solana Memecoins (UPDATED …) because numbers like that change how you research and act.

Solana meme coins blended internet culture with fast blockchain rails. Between October 2024 and January 2025, Solana captured most memecoin trading volume, far ahead of other chains.

I’ll share what worked for me and where people trip up in the crypto market. Expect on‑chain evidence, dashboards, and practical steps.

We’ll start with why tokens move, then move into a step‑by‑step playbook. That includes wallet setup (yes, Phantom wallet), discovery tools, and how to safely buy solana meme plays.

Along the way I flag risks—liquidity traps, thin order books, and copycats—so your process is repeatable and grounded in research, not vibes.

Key Takeaways

• Solana dominated memecoin volume in the cited window; data matters when you trade.
• I combine on‑chain evidence with practical steps for wallet and market hygiene.
• Use a Phantom wallet (mobile app or desktop) and discovery dashboards for research.
• Learn to confirm token pages and avoid liquidity traps before you buy solana meme tokens.
• FAQs and risk notes are folded into each section so you can act with confidence.

Solana Memecoins 101: What They Are and Why They Move

Meme tokens thrive on stories and speed—narratives spread fast, and trades follow even faster.

I keep this simple: memecoin assets are crypto tokens that start as jokes or cultural hooks. The internet community gives them value more than technical utility.

Dogecoin began as a 2013 joke but built a passionate community that proved social momentum can move markets. On Solana, BONK showed a different playbook: a 50% community airdrop that bootstrapped participation and DeFi use. WIF (dogwifhat) later crossed $3, illustrating how quickly sentiment compounds.

Why social buzz matters

Social media mention velocity often precedes price moves. When attention spikes and liquidity is thin, prices can spike and crash just as fast.

“Narrative beats fundamentals in memecoin cycles; community is the on/off switch.”

• Practical rule: treat mentions as a sentiment indicator, not proof of value.
• Risk note: when community activity fades, liquidity usually dries up.
• Definitions ahead: FDV, market cap, liquidity depth, holder distribution.

Why Solana Is the Go-To Chain for Meme Coin Trading

Speed and low fees made Solana the obvious playground when memes went viral.

Execution speed mattered. Solana processed up to 65,000 transactions per second, which cut confirmation time and transaction cost compared with older blockchains. That made rapid entry and exits possible when social buzz spiked.

Throughput and costs

Low fees let me scale small tests without getting eaten by gas. A single transaction cost on Solana was often cents, not dollars.

The technology advantage translated into fewer failed submits and faster price fills. That consistency shaped my timing for quick trades in meme coins.

Ecosystem enablers

I used a Phantom wallet because the in‑app flow felt like fintech, not a clunky browser extension. Phantom wallet cut setup friction and made swaps routine on mobile and desktop.

Tools such as Pump.fun and Moonshot lowered the barrier for new token launches. That kept the market fresh and created many short windows for action when I decided to buy solana meme assets.

• Speed + low fees = practical scale for meme trading.
• Phantom wallet improved UX and shortened the path from discovery to swap.
• Launch platforms increased supply of fresh coins and trading opportunities.
• Result: Solana captured 94.9% of memecoin volume in the cited window, concentrating liquidity and attention.

“With the right UX and tooling, viral meme cycles become tradable micro‑events.”

Market Snapshot and Statistics to Know Before You Trade

The market shifted dramatically between October 2024 and January 2025, and the numbers tell the story.

Solana’s share of memecoin volume hit 94.9% in that window. Ethereum accounted for 3.4% and BSC 0.5%. Those figures reshaped where liquidity clustered and how fast moves unfolded.

Volatility was extreme. Memecoin price swings showed rapid surges and equally fast crashes.

Liquidity often sat in small pools. When TRUMP launched in Jan 2025, congestion spiked and spreads widened. That event exposed concentration risk: TRUMP reportedly had ~80% held by a single entity (CIC Digital LLC).

What I check before I size a trade

• I start by mapping where recent volume clustered; during late 2024, solana meme coins dominated the tape.
• Volatility is a feature, not a bug — I watch depth around key caps and plan for swift reversals.
• Airdrops and concentrated supply (BONK-style airdrops, large treasuries) change the risk math.
• If I buy solana meme entries, I set exit levels in my wallet first and respect them.

“Numbers are signals. When one chain owns most volume, adapt your flow and risk sizing.”

Visualizing the Landscape: Graph of Memecoin Market Share and On-Chain Activity

Plotting volume and transactions side‑by‑side shows where real activity lived. Below I describe a simple chart that turns noisy memecoin moves into a usable snapshot for research and execution.

Suggested graph: a dual‑axis line chart from Oct 2024 → Jan 2025. Primary axis: share of memecoin trading volume by chain (Solana ≈ 94.9%, Ethereum ≈ 3.4%, BSC ≈ 0.5%). Secondary axis: daily transaction counts to show on‑chain activity correlation.

Annotate key events: Jan 2025 TRUMP launch and brief network congestion. Add markers for BONK and WIF spikes and a playful “cat” marker for POPCAT moments.

• Why this works: volume share shows where liquidity pooled; transaction series shows execution quality and slippage risk.
• Include market cap snapshots near spikes to judge whether moves were whale‑driven or broad participation.
• I add wallet notes below the chart—slippage settings and routing choices—so the visuals translate into trading steps.

“A clear chart converts social noise into a decision framework you can reuse.”

Complete Guide to Trading Solana Memecoins (UPDATED …)

A clear workflow turns meme coin chaos into repeatable steps you can execute fast.

Step-by-step workflow: create a Phantom wallet, buy SOL on an exchange like Coinbase, and transfer a small test amount to your wallet. I route orders through Jupiter when I need the best route, or use Phantom’s in‑wallet Swap for speed.

How I get started and execute

I paste the token contract into Phantom or the DEX and run a tiny swap first. That confirms the transaction path and shows slippage in real time.

I always search the address on Solscan and run RugCheck before any trade. Copy‑paste beats typos every time.

Timing, slippage, and exits

• I watch liquidity adds and wait for the first retest with volume; those are cleaner entries.
• Start with conservative slippage, then widen only if routing stalls. Document what worked.
• Set exit levels before you enter and scale out in thirds when candles reverse fast.

“Treat the first swap as a rehearsal; the second is where you size up.”

Phantom’s Crosschain Swapper helps move funds if I need to bridge, but I test bridges with tiny amounts first. Use Explore for leads, then validate depth, holders, and recent large transactions.

For more on network effects and a recent spike, read the TRUMP surge coverage.

Setting Up Your Phantom Wallet on Mobile and Desktop

A correctly configured Phantom wallet saves time and prevents rookie mistakes in fast markets.

I install the phantom app on my phone first. Open the mobile app, create a new wallet, and enable biometrics. Then store the Secret Recovery Phrase offline — paper or a hardware device. Phantom cannot access that phrase.

On desktop, add the Phantom extension and create a secure password. Pin the wallet extension so it’s one click away during quick moves. Fund the wallet if needed; I used Apple Pay once for a fast top‑up but always confirm the deposit address and fees before paying.

• Quick practical steps: install, create, protect phrase, set alerts, fund, test a $5 transfer, then scale usage.
• Enable notifications (Settings > Notifications) so swaps and inbound transfers pop up.
• Keep main and experimental addresses separate and tag trusted addresses. Use the link feature with care — always verify the contract before you trade.

“Treat every approval as irreversible; double‑check the signer and the permissions before accepting.”

Essential Tools: Research, Safety Checks, and Execution

I rely on a tight toolset that turns noise into verifiable trade signals.

Phantom is my front door: the Explore tab surfaces trending tokens and the in‑wallet swap makes quick execution easy on the app. Use the link share but always paste the contract into your wallet and double‑check the address before you approve anything.

Verification and on‑chain forensics

After discovery, I jump to SolanaFM and Solscan to inspect token addresses, holders, and recent transactions. Watching a few wallets move large inflows is a red flag.

Contract screening and market data

RugCheck gives a quick contract risk screen and validated lists. It has occasional bugs, so I back it up with explorer data and community confirmations.

Routing and discovery tools

Jupiter handles routing for better fills. Photon’s Memescope helps spot rising meme projects before major listings. Birdeye provides real‑time price, liquidity, and historical analysis so I can tell if a spike is one‑off or sustained.

• My flow: discover in Phantom, verify on SolanaFM/Solscan, sanity‑check with RugCheck, route via Jupiter, then monitor on Birdeye.
• Always use the search bar for exact token pages; never trust name matches alone.
• Enter small first. Size up only after routes, holders, and liquidity check out.

“Tools turn rumors into evidence—use them in order and keep your approvals small.”

For a recent look at how tooling met market flow, see this short note on changing volume patterns: katana growth note.

How to Trade Safely: Verification, Contracts, and Rug Pull Defense

A five‑minute check of addresses and holders is the difference between profit and a lost wallet.

I make sure the token address matches across Phantom wallet, Solscan, and RugCheck before I risk assets.

Paste the exact address into RugCheck and SolanaFM. Confirm holder distribution, liquidity locks, and recent transactions.

Confirming the correct token address before you buy

Names lie. Contracts don’t. I always copy the address from a trusted source and paste it into Phantom’s swap field.

Then I cross‑check the same address on Solscan and RugCheck. If anything mismatches, I stop.

Reading holder distribution and liquidity locks on block explorers

On explorers I look for concentration. One wallet holding most liquidity is a red flag in real cases.

Transactions tell a story: fresh deploys, quick mints, and rapid distribution often signal trouble.

“A tiny test trade reveals routing or UI oddities before you risk real size.”

• Test small: route a tiny transaction first and watch settlement behavior.
• Check locks: time‑locked liquidity and renounced controls lower some risks, not all.
• Community checks: if holders or supply questions go unanswered, step back.
• Report: flag suspicious contracts publicly — it helps the whole community.

Bottom line: build a short checklist — address, holders, liquidity, transaction history — and run it every time. That five‑minute habit protects downside far better than any hot tip.

Top Solana Memecoins to Watch with Evidence and Sources

I track a short watchlist of memecoins that proved traction on‑chain and in social feeds. This section names coins, the evidence I saw, and the practical checks I run before I act.

$TRUMP: market momentum and concentration

$TRUMP launched in Jan 2025 and hit a multi‑billion market cap quickly. That surge pushed transactions and caused network congestion. About 80% of supply sat with CIC Digital LLC, which raised clear unlock risk for me.

Other tokens: themes and traction

• BONK — 50% of supply was a community airdrop, which helped liquidity and integrations across Solana DeFi.
• WIF — the dog token crossed $3, showing narrative durability; I still checked depth before scaling.
• POPCAT and PENGU — cat and consumer‑brand ties drove social media interest beyond typical crypto circles.
• SPX6900 — satirical index token; public endorsement amplified attention despite short history.
• FARTCOIN, PNUT, AI16Z — niche stories (humor, activism, AI DAO) that built unique community pockets.

“I keep a tracker of supply, cap, holders, and recent transaction clusters for each coin.”

If you plan to buy solana meme plays, verify the contract and test a tiny swap in your wallet first. This is evidence‑led research, not investment advice.

Taxes, Risk Management, and a Look Ahead

Taxes and firm risk rules turned out to be as important as any hot entry signal for meme trades.

U.S. capital gains basics for memecoin trading

Selling or swapping meme coins is usually a taxable event in the U.S. Gains or losses depend on the price since you acquired the token.

Track basis and holding period so you’re not surprised at tax time. I set aside a percent of realized gains in stablecoins as a practical reserve.

Risk controls: Sizing, research time, and emotional discipline

I cap allocation per trade and per basket so a single candle can’t blow the account. Short research blocks—20 minutes—catch holder concentration and liquidity traps.

Emotional rules matter: predefine exits, avoid revenge trades, and take breaks when volatility spikes.

Prediction: Scalability, Solaxy ($SOLX), and the road after congestion events

TRUMP’s launch showed how congestion can break UX and widen slippage. R&D interest pushed toward solutions like Solaxy ($SOLX), aimed at improving throughput and lowering transaction costs in the solana ecosystem.

If upgrades land, execution should get smoother during narrative spikes and change how tightly I set slippage and routing.

“Set tax reserves, size small, test often, and document what works — then scale slowly.”

Conclusion

The last takeaway is simple — preparation converts fast social waves into manageable trades.

I built this guide from evidence: Solana handled ~94.9% of memecoin volume in late 2024, and that speed made quick entries and exits possible. Key tools were Phantom, SolanaFM/Solscan, RugCheck, Jupiter, Birdeye, and Photon’s Memescope.

, The fastest way to get started is clear: secure your wallet, verify the token address, run a tiny swap, and only scale when routes and liquidity look predictable. Remember TRUMP’s concentration, BONK’s airdrop, and WIF’s rapid surge as real examples of risk and reward.

Keep the community close but your process closer. Log trades for taxes, protect downside first, and buy solana meme setups with intention.