In recent weeks, the Solana ecosystem has ignited a wave of speculative energy unlike anything seen in years. Fueled by viral meme coins and record-breaking presales, the network is experiencing a dramatic surge in on-chain activity, user engagement, and transaction volume. This explosive growth has not only drawn attention from crypto enthusiasts but also reignited debates around risk, innovation, and the future of decentralized finance.
The Rise of Meme Coins on Solana
Solana has emerged as the go-to blockchain for meme coin speculation, thanks to its high-speed transactions, low fees, and vibrant community culture. Over the past 72 hours alone, more than $100 million worth of SOL has been sent to wallets associated with upcoming meme coin presales — a staggering figure that underscores the level of market enthusiasm.
Google Trends data reflects this growing interest: searches for “Solana” recently hit a peak score of 100, the highest in five years. For context, the previous high was 84 during early September 2021, a period marked by broad crypto market euphoria.
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BOME and the Viral Meme Coin Surge
At the heart of this movement is Book of Meme (BOME), launched anonymously by artist Darkfarms1 on March 14. Starting with an initial valuation of around $4 million, BOME skyrocketed by over 36,000% within just 56 hours, briefly reaching a market cap of $1.45 billion.
Early investors reaped massive rewards. According to blockchain analytics firm Lookonchain, one wallet — Sundayfunday.sol, reportedly a close associate of the project’s creator — turned an initial investment of 420.69 SOL (worth about $72,000 at the time) into over $32 million in under three days.
Other projects quickly followed suit. Artist Kero conducted a poll on X (formerly Twitter) asking fans whether they should launch a token after joining the Solana network. After receiving over 5,000 votes, Kero initiated a presale by sharing a wallet address — and funds poured in rapidly. The campaign ultimately raised nearly 55,000 SOL, valued at approximately $10.66 million at current prices. In a candid post, Kero later admitted they had no concrete plan when launching the poll.
This phenomenon isn't limited to anonymous creators or niche communities. Even mainstream figures have been pulled into the frenzy. Entrepreneur David Sacks, co-host of the All In podcast, sparked excitement around a related meme coin. When Elon Musk tweeted “Alright, I bought your coin” to fellow host Jason Calacanis, the JASON token surged — turning an initial 1 SOL investment into 200 SOL almost instantly.
Record-Breaking On-Chain Metrics
The surge in meme coin trading hasn't just created overnight millionaires — it's transformed Solana’s network performance metrics.
On March 15, Solana recorded over **$3.79 billion** in daily transaction volume (in USD value), surpassing its previous all-time high of $2.85 billion. The momentum continued into the weekend, with Saturday hitting $3.48 billion and Sunday closing at $3.085 billion, according to DefiLlama.
Active addresses are also surging. The 7-day moving average of daily active addresses reached approximately 1.4 million on March 17 — the highest since June 2022. Even more telling is the spike in new wallet creations: over 1.06 million new addresses were created in a single day (7-day average), indicating strong organic user growth.
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Transaction fees have followed suit. On March 17 alone, total fees paid on Solana hit $4.17 million (around 21,830 SOL), setting a new record for the network. These figures highlight not only increased usage but also growing economic activity within the ecosystem.
Controversial Presale Models Under Scrutiny
While many celebrate these gains, concerns are mounting over the presale model used by many new meme coins. In these setups, investors send SOL directly to a designated wallet in exchange for promised allocations of a future token — often without contracts, audits, or guarantees.
Because there’s no assurance that tokens will ever be distributed, these presales are vulnerable to scams and rug pulls. Ethereum educator Anthony Sassano has been vocal in criticizing the trend:
“Anyone sending money to a random wallet address expecting tokens back is being stupid. Two years later, and we're all back to Ponzi schemes.”
He added:
“People can do what they want with their money — but sending funds to meme coin presales with a 99.9% chance of being scams? That’s beyond reckless.”
Despite the risks, demand remains high. The allure of rapid returns continues to drive participation, especially among younger or newer investors drawn by social media hype and viral success stories.
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Frequently Asked Questions (FAQ)
Q: What is a meme coin presale?
A: A meme coin presale allows investors to send cryptocurrency (usually SOL on Solana) to a project’s wallet before the official launch. In return, they’re promised future tokens at a discounted rate or with bonus incentives — though there’s no guarantee the project will deliver.
Q: Why is Solana popular for meme coins?
A: Solana offers fast transaction speeds (over 65,000 TPS), low fees (often under $0.01), and strong community tools like Solana Pay and Wallet Adapter, making it ideal for high-volume, speculative trading environments.
Q: How much money has been raised in Solana meme coin presales recently?
A: Over $100 million in SOL was sent to presale wallets in just 72 hours during mid-March 2025, signaling intense market interest.
Q: Are Solana meme coin presales safe?
A: Most are unregulated and carry high risk. Without smart contract guarantees or transparency, many end in fraud or abandonment. Always perform due diligence (DYOR) before investing.
Q: Can I track Solana’s on-chain activity?
A: Yes — platforms like DefiLlama and The Block provide real-time data on transaction volume, active addresses, fees, and more.
Q: What caused BOME’s price to surge so quickly?
A: A mix of celebrity attention, scarcity mechanics, FOMO-driven buying, and early investor momentum led to rapid price appreciation — though such spikes often come with sharp corrections.
Final Thoughts
The current wave of Solana meme coin mania reflects both the power and peril of decentralized innovation. While it drives unprecedented network activity and creates viral wealth stories, it also exposes systemic vulnerabilities in trustless environments.
As long as speed, low cost, and community engagement remain central to Solana’s value proposition, meme coins will continue to thrive — for better or worse. For users, the key lies in balancing opportunity with caution.
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