- Solana’s meme coin market is booming, led by $TRUMP with a $10.8B valuation, despite being 583% below its ATH
- Tokens like $BONK, $FARTCOIN, and $WIF are posting billion-dollar valuations, while smaller coins like $MELANIA have seen 4,000%+ gains from their lows
- After a recent dip in whale and retail activity, investor confidence is returning, possibly signaling a new meme coin season
What started as a Doge-inspired joke has, with time, exploded into a multi-billion-dollar scene on the Solana blockchain. According to data shared by CryptoDiffer on June 11, the Solana-based meme coin landscape is not just thriving, but posting massive market caps and wild returns.
The explosive rise in meme coin trading on Solana has been accelerated by platforms like Pump.fun, which make it easy for anyone to launch their own meme token, especially after reports of the upcoming $PUMP launch.
The Multi-Billion Dollar Club: $TRUMP and $BONK Lead the Pack
Leading the pack is $TRUMP, the politically themed meme token now boasting a diluted valuation of $10.8 billion, despite still sitting 583% below its all-time high (ATH). It is joined by other top contenders including $BONK ($1.58 billion valuation), $FARTCOIN ($1.34 billion), and $WIF (‘dogwifhat,’ $1.01 billion).
Meanwhile, the likes of $PEPECOIN and $BOME (‘BOOK OF MEME’) have delivered eye-popping gains of 1,510% and 1,265%, respectively, from their lows, despite relatively modest market caps under $150 million.
Other standout names include $MELANIA, up over 4,000% from its all-time low (ATL), $FWOG with a 999% gain, and $AI16Z climbing 986%. The meme coin frenzy has spilled over into celebrity and cultural references, with coins like $MEW (‘cat in a dogs world’), $GOAT, and $DOG marking their own spot.
Meme Coin Market Recovers
As a reminder, the crypto market has started to soar earlier, with meme coins emerging as the most significant driver of the growth. They led the charge with a 13.8% surge and hitting $58.83 billion capitalization a day ago, assisted by retail enthusiasm, speculation, and social media momentum.
The renewed investor confidence arrives just days after a sudden selloff in meme coins sent tremors through the crypto market, triggering speculation that a rotation into Bitcoin and altcoins was imminent. It was the result of mounting uncertainty surrounding the US President Donald Trump’s trade policies and wider market rebalancing trends.
More recently, whale trading volume in Solana meme coins plunged to its lowest level since February 2024, with retail interest following suit amid macro uncertainty. However, things seem to be changing for the better, heralding another possible meme coin season.
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