The recent decline in meme coin activity on the Solana platform has a noticeable impact on the price of its token SOL. The price of SOL has dropped from over $158 to around $145–$147 as of June 2025, raising concerns regarding price recovery.
Impact on Price and Trading Volumes
The decline in meme coin activity on Solana correlates with a drop in the token’s price, leading to less network utility and trading volumes. However, derivatives traders continue to show interest, as open interest in futures has increased by 19%, reaching $45.7 million. "While spot activity (including meme coins) declined, derivatives traders remain active," note market analysts.
Response from Founders
Co-founders of Solana, Anatoly Yakovenko and Raj Gokal, who played a pivotal role in the platform’s growth, have not commented on the recent lull in meme coin activity. Their silence contrasts with previous engagements via official Solana channels, raising additional questions within the community. As of June 19, 2025, no direct statement regarding the latest decline in meme coin activity was found.
Market and Historical Context
The market impact includes a noticeable pullback in SOL's pricing, with associated assets experiencing lower demand. Capital shifts across chains are observed but not confirmed within major ecosystems like Ethereum. Financial repercussions may include speculative capital movement from Solana's ecosystem. Past trends suggest the potential for renewed activity, as seen during previous 'spike' recovery periods.
The decline in meme coin activity on Solana maintains uncertainty in the market and raises questions about the near-term prospects of its token SOL. Historical data suggests the possibility of similar outcomes and price dynamics.
