The trading volume of decentralized exchanges (DEX) on the Solana blockchain has surged, reaching $3.578 billion within 24 hours, closely following Ethereum’s $3.937 billion. In addition, the popularity of meme coins such as BOME and POGAI has brought unprecedented attention and enthusiasm to the Solana ecosystem.
Recently, the price of Solana has shown a strong upward trend, and its on-chain ecosystem has experienced robust development. SOL has risen more than 12% in the past 24 hours. The ecosystem has also become lively due to airdrops and the explosion of meme coins. According to DeFiLlama data, the trading volume of DEX on Solana reached $3.578 billion in the past 24 hours, approaching Ethereum’s $3.937 billion, representing a significant increase of 52% compared to the previous day. The trading volume in the past 7 days has exceeded $13.3 billion, second only to Ethereum’s $18.9 billion and BSC’s $13.7 billion.
The surge in on-chain trading volume is attributed to the recent popularity of two meme coins in the Solana ecosystem, BOME and POGAI. BOME, also known as BOOK OF MEME, was launched on March 14th by the Pepe Meme artist Darkfarm. BOME has reached a new high of $0.02 after being listed on Binance. POGAI, also known as Proof of Great AI, is a meme coin newly launched on Arbitrum by the Chinese meme coin project POGAI.
According to DexScreener data, after the news of BOME being listed on Binance, its price surged 62.5% from $0.01239 to a high of $0.02014, reaching a historical high. Its market capitalization also exceeded $1.35 billion. As of the time of writing, it has surged 317% in the past 24 hours, reaching $0.0181.
It is worth mentioning that a wallet with the address starting with “Haee7” withdrew 12,721 SOL ($2.3 million) from Binance and purchased $314 million worth of BOME at a price of $0.0074. Lookonchain, an on-chain observer, suspects that this wallet may be an insider trader. The wallet has not sold BOME yet, and if calculated at the current price of $0.0181, the unrealized profit would approach $3.36 million, with a return rate of 144%.
As for POGAI, Lookonchain found that a trader with the address starting with “4iVkf” earned $1.14 million through POGAI transactions within 6 hours. This trader spent 1,200 SOL to purchase 9.82 billion POGAI at the same moment of creating a liquidity pool, and sold all of them for 7,343 SOL within 6 hours, earning 6,143 SOL, which is worth $1.14 million.
The myth of getting rich quickly is tempting, but readers are reminded that the meme coin market is volatile. Please make careful decisions and conduct risk assessments before investing.