Solana Trader Count Plummets 81% as “Meme Coin Craze” Turns Toxic

Solana’s once-booming decentralized exchange (DEX) scene is now showing signs of ￰0￱ participation is collapsing as the meme coin frenzy that drove the network’s meteoric rise begins to ￰1￱ to data from Dune Analytics, the number of daily active traders on Solana-based DEXs has plunged from a peak of 4.8 million earlier this year to just 900,000 in August, an 81% decline.) August 26, 2025 Token creation data shows just how unsustainable the meme coin mania has ￰2￱ Solana, contract creation surged throughout 2024, peaking in February 2025 with more than half a million new tokens deployed in a single month. However, activity slowed noticeably by August, indicating fatigue among developers and ￰3￱ Token Frenzy Turns Into Bloodbath as Most New Meme Coins Vanish Within Hours Underlying these shifts is the rise of token creation platforms like PumpFun, which have become synonymous with Solana’s meme coin ￰4￱ to Dune data , in the past 24 hours alone, PumpFun saw 26,457 new tokens minted, more than 95% of all Solana token launches during that ￰5￱ next closest platforms, Sugar and Bags, recorded just 973 and 673, respectively, while smaller venues like Wavebreak barely registered any activity.) August 28, 2025 By contrast, 18,333 wallets saw profits, though gains were heavily ￰6￱ addresses captured nearly 30% of total profits, worth $66.6 ￰7￱ other winners made under $1,000.

YZY, short for Yeezy Money, launched last Wednesday with a promotion from West’s official channels and ￰8￱ as a financial empowerment project, the token shed 70% within hours, fueling claims of ￰9￱ platform Bubblemaps flagged suspicious trading patterns, including “sniping,” where bots grab large token allocations seconds after ￰10￱ past week truly exposed the failures of our industry Despite our collective efforts as investigators, builders, and communities – the same names keep running the same scams The playbook is simple: Infiltrate big launches, get in early, and extract millions It’s happening… — Bubblemaps (@bubblemaps) August 27, 2025 The episode shows the risks in Solana’s ongoing meme coin boom, where quick pump-and-dump cycles continue to drain retail ￰11￱ itself has held steady, trading at $212.85, up 4% in the past 24 hours and 15.5% over the ￰12￱ token remains 27% below its $293.31 all-time high.