Ansem Pops 299% as Solana Memecoin Volume Climbs

Ansem (The Black Bull) climbed roughly 299% over seven days in early July, pushing its market value to about $173 million and 24-hour trading volume to $64.9 million.

Activity on Solana decentralized exchanges increased alongside the token’s rally. Pump.fun recorded about $5.33 billion in weekly DEX volume and roughly $18.22 billion over 30 days. On July 4, Pump.fun and PumpSwap each exceeded $1 billion in daily volume for the first time since April 8. The week of June 29 to July 5 was the first weekly total above $5 billion since late March.

On July 1, Solana’s token-launch platform logged its busiest day for token launches and graduations in 80 days, with Ansem and several copycat tokens contributing to the surge.

Platform-level data show memecoins accounted for more than 20% of Solana’s weekly trading volume, the highest share since mid-May. Earlier research documented memecoins making up as much as half of weekly volume in the fourth quarter of 2024.

A July 1 note from a market participant reported Pump.fun had recovered roughly 62% of its Solana launchpad revenue and about 55% of its trading volume over the prior two weeks.

On-chain analysis and academic research point to faster trading patterns in recent memecoin launches. Median holding times for Solana memecoins moved from about 300 seconds to roughly 100 seconds. An academic paper documented sniper bots buying tokens within the first one to five blocks of a launch, a window that is too short for manual traders to act.

MELT (MemeTrans), which tracks tens of thousands of Solana launches and hundreds of millions of transactions, found coordinated accounts often held large shares of new tokens, averaging 36.5% of supply in its sample, and labeled the majority of launches it studied as high risk. A cross-chain study of nearly 35,000 memecoins reported that 82.8% of top-performing tokens showed signs of artificial growth such as wash trading or liquidity-pool price inflation, and identified more than 17,000 addresses with realized losses exceeding $9.3 million.

The recent activity has increased trading and on-chain traffic for wallets, exchanges, bridges and launchpads on the Solana network. Market participants are tracking volume, memecoin share of Solana trading and new-launch activity to monitor whether the spike continues.