• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Join Lightchain AI
No Result
View All Result
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Historic $109,500 Bitcoin High: Here’s What Analysts Predict Next
👆 BUY LIGHTCHAIN HERE 👆
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Historic $109,500 Bitcoin High: Here’s What Analysts Predict Next
Solana

Solana Meme Coin Mania Breaks Records: DEX Volume Surges, Yet Failed Transactions Hit 72%

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Solana
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Solana (SOL) has experienced an exceptional uptrend, with a staggering year-to-date (YTD) surge of 652%. However, the recent surge in meme coins has further amplified the blockchain’s growth narrative. 

Solana-based tokens such as dogfight (WIF), Bonk Inu (BONK), and Boof of Meme (BOME) have witnessed remarkable growth rates of 574%, 3200%, and 49%, respectively, according to CoinGecko data. 

Nevertheless, this unprecedented meme coin mania has its fair share of ramifications, including increased transaction failures, rising transaction fees, and the dominance of bot-driven activities.

Meme Coin Ecosystem Faces Challenges

The surge in meme coin popularity is evident through the rise in decentralized exchange (DEX) and meme coin volume on Solana. On March 16th, major meme coins like BONK, WIF, TREMP, BODEN, and BOME recorded a cumulative volume of $1.33 billion.

This surge in trading activity highlights investors’ significant interest and participation in the Solana meme coin ecosystem.

However, the influx of bots seeking to exploit potential opportunities has resulted in a notable increase in failed transactions within the Solana network. 

Related Reading: Renowned Finance Author Reveals Why You Should Buy As Much Bitcoin As You Can

On-chain researcher and analyst Tom Wan reveals that 72% of the failed transactions can be attributed to bot activities. Although this high failure rate has impacted the network’s efficiency, the effect on organic users has been relatively less severe than bots.

Solana
Solana’s failed transaction uptick. Source: Tom Wan on X

However, as the meme coin frenzy continues to grip Solana, the network has witnessed a substantial increase in average transaction fees. 

While average users can still execute transactions without paying priority fees, Tom Wan highlights that the median transaction fee has tripled from 0.000005 SOL to 0.000016 SOL. As a result, the average transaction fee has risen to $0.065, reflecting increased demand and congestion on the network.

Ultimately, the surge in meme coin trading activity on Solana has brought benefits and challenges. While the DEX and meme coin volume growth signifies the increasing adoption and interest in these tokens, it has also exposed vulnerabilities within the network. 

Solana Surpasses All Other Blockchain Ecosystems

The competition between Ethereum (ETH) and Solana continues to intensify, as the so-called “Ethereum Killer” appears to be the latest to dominate global investor interest, outpacing other blockchain ecosystems. 

According to recent research by CoinGecko, Solana’s growing popularity can be attributed to its recent rally, which has propelled it to reclaim its 2021 highs. 

This resurgence has captured the attention of investors worldwide, who are drawn to blockchain’s potential for innovation and growth. In addition, the success of notable projects within the Solana ecosystem, such as Pyth, has further boosted investor confidence and interest in the platform.

Solana
Top 10 blockchain leaders in global traffic share. Source: CoinGecko

While Solana has emerged as the most popular blockchain ecosystem, Ethereum holds a significant position in the industry. CoinGecko’s data reveals that Ethereum captures 12.7% of investor interest, ranking it as the second most popular ecosystem 2024. 

According to the research, Ethereum’s continued relevance can be attributed to its well-established presence and familiarity among investors. However, attention within the Ethereum ecosystem is increasingly dispersed to layer 2 solutions built on top of the Ethereum network.

Related Reading: Chainlink Flips Cardano To Become #1 Crypto In This Metric

With a 5.4% share of investor interest year-to-date (YTD), the third most popular blockchain ecosystem is crypto exchange Binance’s BNB Smart Chain ecosystem. 

Solana
The 1-D chart shows SOL’s price correction over the past week. Source: SOLUSD on TradingView.com

Currently, the price of SOL stands at $171.80, reflecting a continuation of its price correction over the past seven days, which amounts to a 5% decline. This correction has also persisted over the past 24 hours, with a further decrease of 6.6% in price.

Featured image from Shutterstock, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Solana

Solana Small Investors Reemerge: Shrimp Wallet Addresses Count Explodes To A New High

2 days ago
Solana

Solana Metrics Shifting: Realized Cap Steady Outflows Slow Down As Market Sentiment Improves

6 days ago
Solana & XRP

Solana Demand Returns: SOL Realized Cap Now Growing At Same Rate As XRP’s

6 days ago
Solana news

Solana Under Fire Again — Expert Reveals Why It Isn’t Out Of Beta Yet

4 weeks ago
Solana

Solana Builds Momentum For An Explosive Rally As Key Chart Pattern Takes Shape

1 month ago
Solana news

Solana Inflation Reform Gets Second Try From Galaxy Research

1 month ago

Premium Sponsors

Press Releases

  • Investment opportunities in 2025, one-click cloud mining...

    2 minutes ago
  • APT Miner launches free mining to help you achieve passive...

    20 minutes ago
  • The globally discussed APT Miner platform has attracted...

    23 minutes ago
  • Are you still waiting? Others earn $12,000 a day from cloud...

    25 minutes ago
  • HashFly

    Which Cloud Mining Is Legit? Discover Why Millions Trust...

    2 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Join Lightchain AI

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.