Solana memecoin share Hits 91% as Robinhood Chain Fades

Solana memecoin share is back above 91%. As of October 12, Solana carried about 91% of memecoin spot DEX turnover among tracked networks, according to Happy Coin News and Cryptopolitan, after a September stretch where Robinhood Chain and BNB Chain pulled traders away. Cryptopolitan puts Robinhood Chain's share at about 5% now.

What actually happened

In early September the meme map looked different. Happy Coin News recalls that Robinhood Chain's Pons launchpad started outpacing Pump.fun on fees, holding the lead for several days from August 29, with total trading volume reaching $4B. For a while Robinhood Chain was one of the main memecoin hubs.

That did not last. By late September, Solana's share of weekly memecoin DEX turnover had climbed from 51% to 80%. By October 12 it was about 91%. Cryptopolitan says Robinhood Chain's share is down to about 5%.

We tracked the September side of this in our Pons launchpad volume and Robinhood Chain meme losses coverage. The October data reads like the other half of the same story.

Pump.fun is carrying the rebound

Happy Coin, citing DefiLlama, says roughly $1.21B passed through Pump.fun's DEX infrastructure over seven days and more than $4B over 30 days, with monthly protocol revenue around $41M. Q3 gross revenue rose to $122.79M from $79.2M in Q2, and profit rose to $91.48M from $63.12M.

Cryptopolitan adds that Pump.fun's daily volume peaked above $160M on multiple days in October. It says daily token launches are regularly back above 35,000, with nearly 20,000 creator addresses a day, and that the platform has paid out more than $31M in creator fees and cashbacks.

At the end of September, Happy Coin says, Pump.fun was back to more than 73% of daily revenue among tracked memecoin launchpads, after trailing Stonk and Pons two weeks earlier. That is a sharp turn in about a month.

Why 91% is not a new meme supercycle

Share is a relative number. Solana memecoin share can climb even if the whole memecoin market is flat, as long as rivals lose activity faster. Happy Coin makes that point directly: Robinhood Chain shrinking does a lot of the work.

Memecoins are also a smaller slice of Solana than they used to be. Happy Coin says the network processed more than $40B in spot volume from October 6 to 12, and memecoins were only about 10% of it. Most of the flow went through SOL, stablecoin and other pairs.

One data mismatch worth flagging. Happy Coin cites Solana's site at about 50M monthly active addresses, while Cryptopolitan describes 50M as daily active addresses. We are going with the monthly framing from Solana's own site and not stacking the two.

Winning back 91% of a smaller pie is still winning. It is just not 2024.

For another angle on where meme volume sits right now, our meme markets volume note uses a different basket and shows Solana at about 62% of major-meme volume. Different methodology, different number.

What could reverse it

Robinhood Chain and BNB Chain lost share fast, but they can win it back the same way they took it: with a hot launchpad, fee incentives or one viral coin. September showed how quickly traders will chase a new venue when the rewards are better.

Pump.fun's own lead also depends on sentiment. Cryptopolitan describes months of "meme fatigue" before October's rebound, and a broader risk-off market can bring that back quickly.

What to do as a reader

Know which number you are quoting. "91% of memecoin spot DEX volume among tracked networks" is the accurate version. "Solana owns 91% of memes" is not.

Watch the flow, not the headline. If Pump.fun daily volume and launches hold up into late October, the Solana memecoin share figure is backed by real activity. If they fade while the share stays high, it just means everyone else faded faster.

And remember the trench math. Thirty-five thousand launches a day means most tokens die fast. Nothing here is investment advice.