What To Know:
- Solana’s memecoin market rebounded sharply at the start of the year, with 24 hour transaction volume jumping 28.7 percent to $78.7 billion and total value locked rising to $89.7 billion.
- High risk assets led the recovery, as established Solana based memecoins including PENGU, FARTCOIN, and WIF posted weekly gains of more than 40 percent.
- Meanwhile PENGU’s market capitalization crossed $1 billion amid strong buying interest.
The Solana memecoin ecosystem opened the new year with a sharp recovery, as trading activity and prices rebounded across a wide range of cryptos. Market data from HTX showed total 24 hour transaction volume climbing to $78.7 billion, marking a 28.7 percent increase in a single day. Total value locked across the network also edged higher, rising 0.5 percent to $89.7 billion over the same period.
Solana Memecoins Witness a Comeback
The recovery has been general, but it has been most visible in higher risk assets. Memecoins and smaller altcoins were among the strongest performers, and it reflects a return of speculative appetite after months of muted activity. Established Solana based meme coins such as PENGU, FARTCOIN, and WIF each posted gains exceeding 40 percent over the past seven days, placing them among the best performers in the ecosystem.
PENGU emerged as one of the standout tokens in the rebound. Its market capitalization crossed the $1 billion mark, reaching approx $1.01 billion, the highest level seen in the past 30 days. The crypto surged 5.3 percent over the past 24 hours and 48.1 percent in the past week. Since the start of January, PENGU has risen about 57 percent, moving from around $0.0086 on Jan. 1 to a recent high of $0.0136.
Other Solana based altcoins also saw notable gains. PUMP was trading at $0.002419, an increase of 8.4 per cent for 24-hour trading. RENDER gained 17.1 percent to $2.42. JUP emerged 8.8 percent higher at $0.2344, while PYTH added 7.7 percent at $0.07186. The MET token climbed 5.56 percent to $0.29 as continued buying trends permeated the ecosystem.
WIF traded at $0.41, gaining 4.3 percent on the day and 42.6 percent over the past week. FARTCOIN rose 13.2 percent in 24 hours to $0.4433, extending its seven day gain to 55.4 percent. Smaller tokens also posted sharp moves. WhiteWhale reached a market capitalization of $80 million after a 4.42 percent daily increase. WOJAK rose 21 percent in 24 hours to a $48 million valuation. USCR climbed 34.3 percent to $37 million, while CLASH surged 52.8 percent to a market capitalization of $36 million.
Individual trading activity highlighted the speculative nature of the rally. On chain monitoring showed one trader spent $343.31 across three transactions to buy the Solana meme coin known as “114514” three days earlier. The trader has since sold part of the position for $297,400 and continues to hold tokens valued at $928,400, resulting in an unrealized profit exceeding $1.2 million.
As for meme coins, though, they saw sharp pullbacks even as the broader market moved higher. Data from GMGN monitoring indicated that PIPPIN, another Solana based memecoin, hit a hard reversal. The token dropped roughly 35 percent after jumping from approximately $0.35 on January 2 to a peak of $0.53. Its price fell back to approximately $0.34, cancelling earlier gains from the month, leaving it at almost a $340 million market capitalization. Meme coins’ total market capitalization topped $47 billion by January 5, up 7 percent in 24 hours. Volume traded hit $9.2 billion, signalling increased activity and new enthusiasm.
By comparison, the TOTAL3 index, which tracks crypto assets excluding Bitcoin and Ethereum, rose about 7.5 percent since January 1. Meme coins posted gains of more than 30 percent over the same period.
Analysts say the resurgence reflects a shift in retail sentiment after a difficult 2025 for speculative assets. Santiment data shows that the recovery started just after fears and uncertainties for retail traders reached their peak at the end of December. Search volumes for the term “meme coin” have also climbed steadily since the beginning of the year, Google Trends data show.
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