Since early 2025, a significant decline in memeCoin trading volumes has largely impacted the drop in Solana's prices.
Solana's Decline and MemeCoins
According to CoinMarketCap, Solana's trading price fell more than 15% in a week, with a total decline of 37.58% over the last 30 days. However, in the 52-week timeframe, Solana added around 37% to its trading prices, reaching a high of $294.33 and a low of $105.90. Experts say that the ongoing decline in Solana's trading price is also fueled by the development of Pump(dot)Fun.
MemeCoin Market in Crisis
Dune Analytics notes that on February 25, an unprecedented decline of 94% was observed in the trading volume on Pump(dot)Fun. Almost all memeCoins are trading below their 20, 50, 100, and 200 day EMAs, and the market capitalization is below all EMAs. The overall market capitalization of memeCoins has dropped by 43.13% in the past 30 days.
Current Situation Analysis
Market watchers claim that the whole memeCoin market remains steady for several reasons, one primary is the overflowing market with thousands of coins and tokens, creating confusion for traders. A notable example was the launch of the Official Trump token, resulting in over 6,000 projects with similar names, causing substantial losses. Additionally, Raydium prices saw a sudden decline over the past few sessions, with a drop of 61.86%.
The cryptocurrency market remains tense as memeCoins continue to decline, exerting pressure on markets such as Solana.
