Meme token activity has returned to Solana, strengthening the network’s position in decentralized trading and application revenues.
Renewed interest in speculative tokens has increased trading volumes, token launches, and user participation across major platforms.
Solana continues to attract trading activity as applications benefit from stronger demand and improving market sentiment. Meanwhile, Pump.fun has recorded higher activity, supporting the broader recovery in Solana’s meme token ecosystem.
Solana dominates meme token trading with over 91% market share
Solana accounts for more than 91% of meme token spot trading across major decentralized exchanges (DEXs). The network has maintained strong liquidity, allowing traders to access newly launched tokens and established meme assets.
Solana’s dominance follows a temporary slowdown in August, when Robinhood-linked launchpads gained attention. However, Robinhood’s share of meme token trading has since declined to approximately 5%, leaving Solana firmly ahead.
The network has also increased transaction capacity, supporting faster trading across meme tokens and other digital assets. Meanwhile, Solana continues expanding its presence in tokenized stocks and stablecoin markets.
Trading applications on Solana now hold nearly $1 billion in locked value and generate up to $1.5 million daily. This activity reflects continued demand for spot markets, particularly assets without established perpetual futures markets.
Network participation has also increased alongside the recovery. Daily active address figures reportedly doubled during the previous quarter, reaching more than 50 million in October.
According to quarterly revenue figures, Solana maintained its leadership in application revenues for the tenth consecutive quarter. Its applications generated more than $362 million during Q3, compared with $253 million in Q2.
The increase marked Solana’s first quarter-on-quarter application revenue growth in 2026. Daily application revenues also exceeded $3 million, more than twice Hyperliquid’s reported levels and ahead of Ethereum.
Token Terminal data identified Jupiter and Jito among the fastest-growing applications over the previous 30 days. Meanwhile, SOL climbed to $111.47, representing a 47.9% increase over three months.
Solana app revenues reflected the renewed interest in DEX trading, boosting apps like Jupiter and the Jito block builder. | Source: TokenTerminal
Trading activity strengthened during August and September, ending several months of limited price movement.
Pump.fun token launches and trading volumes drive Solana revenue growth
Pump.fun has emerged as a major contributor to Solana’s renewed meme token activity following months of weaker demand. The launchpad recorded daily trading volumes exceeding $160 million across several sessions in October.
Activity accelerated as reflection tokens, a category of asset-backed meme tokens, attracted growing attention. Daily launches regularly exceeded 35,000 tokens, while creator participation approached 20,000 addresses.
Solana led meme token activity, with peak results on days with significant hype. More creators are deploying tokens on Pump.fun, leading to a rise in trading activity. | Source: Dune Analytics
Pump.fun generated $91.48 million in Q3 earnings, reversing the platform’s earlier quarterly revenue decline. The recovery followed weaker earnings throughout 2026 as meme token trading cooled.
The platform also distributed more than $31 million through creator fees and cashback incentives. These payments supported participation while Pump.fun retained a substantial portion of its revenues.
October’s stronger trading activity suggests renewed interest in meme tokens could support Solana’s application revenues during Q4. However, sustained growth will depend on trading demand, token launches, and continued network participation.
