Liquidity pockets are shrinking
Average memecoin pool depth on Solana DEX venues dropped 37% since August, while the number of new pools fell below 200 per week—the lowest reading since the BONK mania. Retail wallets still chase quick flips, but the number of unique buyers per token now peaks by hour six, not day three, suggesting faster burnout.
Wallet churn exposes fatigue
Phantom and Backpack both reported that 18% of addresses active in meme launches during Q2 2025 have not re-engaged this quarter. The largest driver is friction: gas wars may be gone, but rug fatigue and zero-utility endpoints make retention impossible without better storytelling.
Why Solana isn't worried
- Throughput cushion. Average executable TPS still exceeds 4,000, so memes never crowd out serious apps.
- Fee realism. Dynamic priority fees keep spam priced correctly without scaring away creators.
- Tooling spillover. Launchpads, risk dashboards, and permissionless metadata standards built for memes now support consumer fintech experiments.
What’s next for meme capital
Expect a rotation into identity-driven collectibles and revenue sharing tokens. Builders are already wiring Solana Action support so users can mint, tip creators, or redeem merch in a single tap across mobile wallets.
The bottom line: the meme trend is cooling because the easy liquidity has been arbitraged away. Yet Solana's infra absorbed the mania, upgraded the UX, and now reuses that plumbing for more durable products.