Solana memecoin volume surges to seven-month high
Solana (SOL)
Editor:
Eugene Serbin
Cryptobriefing.com reports that Solana's weekly spot DEX volume reached $5.2 billion in mid-August, marking a seven-month high for memecoin trading. This figure represents a nearly threefold increase from the $1.8 billion recorded in late May, as the network processed a record 4.2 billion onchain transactions in July. Memecoins accounted for 29% of all spot DEX volume during the week of July 20-26, with that share briefly spiking to 42% on certain days.
The surge is attributed to viral tokens and platforms like Pump.fun and PumpSwap, which helped reactivate wallets dormant during the spring lull. A key catalyst was ANSEM, a memecoin that surged approximately 299% in a single week during July. Despite this explosion in trading activity, SOL's price remained largely unmoved, trading around $96.
This decoupling suggests the volume surge is driven by speculation within the memecoin layer rather than fresh capital entering the Solana ecosystem. The network's sub-cent transaction fees and near-instant finality continue to make it uniquely suited for rapid-fire trading. Back in January 2026, daily memecoin volumes were already hitting $1-2 billion before a mid-year correction. Traders are advised to monitor the memecoin share of total DEX volume and SOL's price response to continued growth.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 26 August 2026. Not the outlet's figures.
SOL is currently trading at $102.07, showing a shift in momentum compared to the immediate past. The 1-hour buy ratio stands at 47.6%, indicating a slight dip in buying pressure relative to the 24-hour average of 53.7%. However, the 4-hour buy ratio is higher at 56.4%, suggesting that buying pressure is building over a slightly longer timeframe. Volume delta reflects this mixed short-term view, with a negative $1,373,026 in the last hour contrasting with a positive $7,424,829 over four hours. Over the full 24-hour period, the volume delta is strongly positive at $19,185,180, supported by a cumulative volume delta of $43,272,601. This indicates that net buying has occurred for 18 of the last 24 hours, driving significant spot volume of $257,329,058.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Twenty-four hours later
What SOL did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, SOL experienced a robust trend with net buying occurring on all seven days. The 7-day average buy ratio was 52.5%, which is slightly lower than the current 24-hour average of 53.7%, though the latest day saw a 1.2 point increase over that average. Volume relative to the weekly average was only 0.57x, indicating that today's trading activity is subdued compared to the recent weekly norm. Despite lower relative volume, the price increased by 19.5% over the eight-day period, accumulating a total volume delta of $175,409,002. This context suggests that while today is an unusual day with lower volume than the weekly average, the broader trend remains strongly bullish.