YEREVAN (CoinChapter.com) — Solana Meme Coins See Trading Activity Surge
Solana meme coins recorded a sharp increase in trading activity on April 14. Axiom, a trading platform focused on meme coins, reported $100 million in daily trading volume, aligning with active users reaching 26,800, as crypto analyst Colin Wu reported. These numbers are the highest ever recorded on the platform since its launch.
This surge came after a weak period for Solana’s decentralized exchanges (DEXs). In March, trading volumes across the Solana ecosystem had dropped sharply. Axiom’s latest performance suggests that traders are returning. The platform now handles half of all meme coin transactions on Solana, showing its dominant role in this market segment.
Earlier, the meme coin market faced several problems that slowed its uptrend. One of the major issues was the Argentinian LIBRA scandal, which affected investor confidence. At the same time, tariff-related uncertainty created more pressure. These factors caused a decline in meme coin trading on Solana and other networks.
Pumpswap Expands Solana Meme Coin Market
Pump.fun, a Solana-based platform, introduced a decentralized exchange called Pumpswap. Since going live, Pumpswap has quickly gained traction. According to DeFiLlama, it now holds 14% of the total DEX trading volume on Solana. On April 15, the platform saw a 50% spike in daily trading volume, marking a significant rise in user activity within a short time.
Moreover, Pumpswap’s early success shows that the trading demand is no longer concentrated on a single platform. Instead, users are spreading activity across different exchanges. This trend could help stabilize meme coin trading by distributing volume and reducing reliance on one ecosystem player. It also signals that more platforms are trying to capture user interest by offering new tools for meme coin trading within the Solana network.
Top Solana Meme Coins Show Double-Digit Gains
At the same time, Solana meme coins have shown sharp price growth in recent days. According to CoinGecko, eight out of the top ten Solana meme coins posted double-digit gains over the past week.
One notable exception was the TRUMP token. Despite pressure from a recent token unlock and concerns over tariff-related market movements, TRUMP still recorded a 4.5% price increase. This shows that even the weaker performers in the group followed the general upward movement, although with smaller gains.
Meanwhile, the stronger tokens outperformed significantly. Most of Solana’s top ten meme coins posted price increases of over 20% during the week. As trading platforms report higher usage, token prices have also increased, reflecting renewed interest and participation in meme coin markets on the Solana network.
Will SOL Price Rise Amid Signs of Memecoin Mania Return?
The data above shows a rise in memecoin trading sentiment across the Solana ecosystem, indicating a potential demand for SOL tokens. Historically, it has led to higher Solana prices.
Technical data agrees with the bullish outlook. Notably, Solana has been consolidating within a classic bull flag pattern on its 4-hour chart, raising the prospect of a strong breakout in April.
As of April 16, the SOL/USD pair is trading near $125.09, finding interim support at the 50-period exponential moving average (EMA) around $124.13.
The ongoing consolidation comes after a sharp rally from April 7 to April 12, during which SOL surged from around $98 to over $135. This move formed the flagpole of the pattern, while the subsequent sideways-to-downward sloping channel represents the flag, a structure typically considered bullish in technical analysis.
A key support confluence is emerging at the lower boundary of the flag pattern, which coincides with both the 50-period EMA and the previous breakout zone. If this area holds, SOL could rebound toward the upper flag resistance and potentially confirm a breakout.
If confirmed, the breakout target could be derived by projecting the height of the flagpole from the breakout point, suggesting a move toward the $155.86 level, also marked as a previous resistance zone. This would represent a nearly 24% upside from current levels.