Meme coins on the Solana blockchain have significantly boosted trading volumes on decentralized exchanges within the ecosystem, setting new record levels.

Solana Trading Volumes Surge

Recent data from DefiLlama reveals that trading volumes on the Solana network surged by 117% in the past week, reaching $15.82 billion. In the last 24 hours alone, decentralized exchange (DEX) volumes on Solana totaled $2.57 billion, surpassing Ethereum’s $2.31 billion in the same period. Solana now commands nearly 29% of the total DEX volume.

Top Meme Coin Gainers

Over the past 24 hours, four meme coins emerged as top gainers, namely Floki (FLOKI), THORChain (RUNE), Pepe (PEPE), and dogwifhat (WIF). FLOKI led the pack with a 58% increase, while the others saw gains ranging from 13% to 16%.

Solana Network Excitement

The buzz surrounding the Solana network also drove up the price of the native SOL token, surpassing $150 for the first time since January 2022.

PEPE Token Promotion

The recent spike in meme cryptocurrency prices may have been triggered by the PEPE token’s surge following a promotion by Binance, where users could earn PEPE tokens as rewards at the end of February.

Dogecoin Surges

Additionally, the recent popularity surge of Dogecoin (DOGE) saw its price nearly double in a week, boosting its market capitalization to $24 billion, placing it among the top ten cryptocurrencies by market cap.

Stay tuned for more updates and news on Global Crypto News to stay informed about the latest trends in the cryptocurrency market.

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