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Solana DEX trading volume crashes 82% amid meme coin launch slowdown and key holder sell-off

Protocol Fundamentals
02 Jun 2026
BeInCrypto
View Source
Bearish
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Solana's decentralized exchange (DEX) trading volume plummeted about 82% in two weeks, dropping from $104.3 billion to $18.8 billion, driven by a sharp decline in new meme coin launches that once fueled speculative trading. The largest DEX, Meteora, saw its volume fall by over $80 billion, reflecting a broad market slowdown rather than isolated issues. Concurrently, a key group of Solana holders who acquired coins during the 2024-2025 boom began selling their stakes, overlapping with the volume collapse. This signals a potential shift in Solana's trading dynamics as the meme coin-driven speculative engine stalls, raising questions about the network's near-term outlook.

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