Every few months, the obituaries roll out. Meme coins are finished, we are told; the party is over. And yet, like a bad pun on repeat, they refuse to fade away.
Far from it. Market data shows that capital — real capital, from traders who know their way around a blockchain — continues to wash through the sector. Liquidity persists, momentum endures, and the crowd keeps laughing its way to the next speculative punchline.
Among blockchains, Solana now wears the meme crown. Its low fees and high throughput have turned it into the chain of choice for degens, traders, and self-styled “on-chain entrepreneurs.” The numbers are telling: platforms like Pump.Fun, once dismissed as frivolous, are now among crypto’s highest revenue generators — jostling for position with Tether and Circle.
Between August 29th and September 29th, 2025, Solana’s meme coin market became a study in contradiction. A sharp selloff on September 22nd rattled retail investors, but whales — those mysterious deep pockets that never quite reveal themselves — saw it as an opportunity. While the small fry hesitated, the big players kept buying.
But what did they buy?
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