Memecoin activity on Solana has accelerated sharply, signaling what appears to be a renewed speculative cycle across the network. Dune data shows daily new token creation reaching its highest point in approximately 11 months.
At the same time, launchpad volume, token graduation rates, and daily active participation have all continued to trend upward. Together, these metrics show that memecoin activity on Solana is gaining momentum.
The resurgence of memecoin activity on Solana aligns with expectations outlined in a recent CoinMarketCap report stating that “Solana will dominate meme coins in 2026.” Faster block times and lower fees continue to facilitate memecoin trading on Solana, with the network translating those advantages into measurable onchain growth.
New Token Creation Hits an 11-Month High
Daily token deployments on Solana have climbed steadily since late December, culminating in a recent peak of more than 44,000 tokens created in a single day. pump.fun continues to dominate this activity, accounting for roughly 38,000 of those daily launches. BONK.fun follows with just over 4,000 tokens, while BagsApp, Moonshot, and Jup Studio collectively contribute a much smaller share.
In percentage terms, pump.fun controls approximately 87% of daily token creation. BONK.fun holds close to 10%, with the remainder split among smaller platforms. This concentration highlights how a single launchpad has become the default infrastructure layer for memecoin experimentation on Solana.
Graduation Rates Improve but Remain Low
Despite the surge in token creation, only a small percentage of projects progress beyond their initial launch phase. Graduation rates remain below 2 percent across all major platforms. BagsApp currently leads with a graduation rate of approximately 1.56%, followed by pump.fun at 0.77% and BONK.fun at 0.55%.
Yesterday, January 28, over 41,000 tokens were deployed on memecoin launchpads, but only about 320 graduated. These figures underline the highly selective nature of memecoin survival. While thousands of tokens launch each day, only a narrow subset attracts sufficient liquidity and attention to move forward.
Launchpad Volume Rebounds
Weekly launchpad trading volume has also rebounded sharply. Recent data shows that weekly volume almost hit $830 million last week, a level that marks a clear recovery from the quieter period seen through much of October and November. Pump.fun again leads this metric, posting nearly $694 million in weekly volume, with BONK.fun contributing just over $90 million.
This rebound in volume matters because it indicates not only more tokens launching, but also more capital rotating through newly created assets. The increase suggests traders have returned with higher risk tolerance and a willingness to engage in short-term speculation.
Token Launchpads Making Bank
Daily revenue generated by Solana memecoin launchpads has increased alongside broader activity. Yesterday, January 28, total daily revenue exceeded $1.6 million. Pump.fun accounted for roughly $1.42 million of that figure, while BonkFun added over to $173,000, with BagsApp generating just over $11,000.
Over the past day, pump.fun used $2,227,962 to purchase $PUMP, which is approximately 99.3% of the platform’s previous-day revenue. These purchases bring pump.fun’s total $PUMP buybacks to $267,410,513 to date, making pump.fun Solana’s biggest protocol in terms of token buybacks.
Despite the scale and consistency of pump.fun buybacks, $PUMP has shown little positive price response. pump.fun’s protocol earnings are consistently directed toward token buybacks. Even so, $PUMP remains below its $0.004 initial offering price and far from its $0.0088 all-time high, reflecting a broader pattern on Solana where sustained buyback programs have struggled to drive lasting price appreciation.
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