TLDR
Ethereum, Solana, and Base sectors led memecoin volumes this week, with Ethereum dominant via PEPEs surge, Solana steady on BONK and celebrity tokens, and Base showing rising activity.
- Ethereum memes saw the largest 24h volume spike, with daily memecoin trading volume up 35% to $4.75B per a market update.
- Solanas memecoin frenzy kept DEX share high, with Solana DEXs capturing 40% of industry market share earlier and sustained activity through 2025 %%CKPROTECTED0%%.
- Base memes climbed as the chain ranked third by 2025 transactions and protocol revenue grew about 30 times per the same analysis.
Deep Dive
1. Ethereum Sector
Ethereum-based memes led flows. PEPEs 24h trading volume jumped above $1.4B (up 650%), coinciding with strong sector breadth across DOGE and SHIB during the early?year rotation as noted here. Overall memecoin daily volume rose 35% to $4.75B, signaling renewed risk appetite in high?beta names per a market brief.
If you track where liquidity concentrates first, Ethereum memes (PEPE, SHIB) are the clearest signal of renewed meme bid and momentum.
2. Solana Sector
Solanas meme activity remained a major driver. BONK was among top gainers and earlier memecoin waves (e.g., celebrity and political tokens) helped keep Solana near the top of DEX share, with ~40% of industry volumes in Q1 2025%%CKPROTECTED3%% and monthly DEX volumes around or above $100B through the year per an overview. This weeks broad meme strength included Solana names posting double?digit gains alongside Ethereum peers per a performance roundup.
Solana continues to offer deep, fast venues for meme trading; sustained DEX share implies liquidity support even when leadership rotates.
3. Base Sector
Bases meme activity climbed with stronger on?chain usage. The chain ranked third by 2025 transaction count, and protocol revenue reportedly grew ~30%%CKPROTECTED5%%, reflecting expanding app and trading activity (including memes) through the Coinbase distribution per a chain overview. While Bases meme listings have faced debate, activity and attention around creator tokens and new mints kept flows elevated this week context here.
Base is an emerging venue for meme flows; if liquidity standards improve, it could keep gaining share of meme trading without relying on centralized listings.
Conclusion
Near term, Ethereum memes led volume, Solana provided steady depth and velocity, and Base showed rising activity from its growing ecosystem. For positioning, watch where 24h volumes expand first (Ethereum), whether Solana sustains high DEX share, and whether Bases liquidity keeps improving. Risk note: thin depth can magnify volatility, and isolated events can distort prices; monitor liquidity quality and venue mix, not just price spikes as seen in a recent episode.
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