Solana (SOL) Fees Hit All-Time High of $33.2M as Meme Coins Linked to Donald Trump Surge

Solana is riding a wave of unprecedented activity, with its network fees hitting an all-time high. On Sunday, total fees reached $33.2 million, driven by intense trading activity surrounding meme coins linked to U.S. President-Elect Donald Trump.

Solana (SOL) network fees hit an all-time high on Sunday, reaching $33.2 million, a surge largely driven by the recent launch of meme coins linked to U.S. President-Elect Donald Trump. The activity highlights how Solana has become a hub for meme coin enthusiasts.

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surge began when Trump unveiled a meme coin, Official Trump (TRUMP), on the Solana blockchain. The token quickly gained attention, boasting a market capitalization of over $14 billion and a fully diluted valuation of $70 billion. It shot up the ranks, entering the top 20 cryptocurrencies by market cap within 24 hours.

Continuing the trend, Melania Trump also launched her meme coin, dubbed Melania Meme (MELANIA), which currently trades at a market cap of $1.6 billion. The rollout of these tokens brought immense liquidity to Solana-based decentralized exchanges (DEXs), with daily on-chain volumes surpassing $27 billion—the highest among all Layer 1 networks, according to DeFiLlama.

Solana’s Broader Market Impacts

The surge in activity on Solana has also had broader impacts. The network’s native token (SOL) rallied over 50% in the past week, breaking through the $260 mark for the first time. The spike highlights how Solana has become the epicenter of the latest crypto craze, attracting users from other networks.

Meanwhile, the broader cryptocurrency market also experienced turbulence. Early Monday, Bitcoin reached $109,111 before sliding back to $108,000. The activity demonstrates how trends like meme coins can influence not just specific networks but the market at large.