Memecoins Are Back! Can ETH Compete?

Memecoin share of Solana's DEX volume just hit 22%, the highest level since August 2025. The trenches survived. Liquidity came back to Ethereum for four days, then it ran right back to Solana. A token called Burnie Senders was weaponized by Toly to prove a point. Here's why after 4 days of trading ETH memes, trench warriors returned to Solana, and everything that transpired in between. Timestamps: 00:00 – Memecoins came back this week 01:30 – The graveyard, February 2026 03:54 – The four days ETH stole the crown 06:31 – Solana takes it back, in four days 08:44 – Pump.fun is quietly shipping 10:49 – The lottery thesis