62K dormant wallets return as memecoins capture $2B in volume on Solana

Sixty-two thousand wallets just woke up from the dead. After sitting dormant for months, these Solana accounts roared back to life over the past week, drawn by the siren call of memecoins that generated more than $2 billion in weekly spot trading volume. That reactivation figure represents a 400% increase from the prior week, marking the highest dormant wallet return rate in over a year. The numbers behind the frenzy The $2 billion in memecoin volume accounted for roughly 19% of Solana’s total DEX trading activity, which clocked in at approximately $10.6 billion for the week. Pump.fun, the memecoin launchpad that has become synonymous with Solana’s token creation boom, pulled in $1.21 million in revenue over a single 24-hour period. For context, that figure outpaced Hyperliquid, which brought in around $1.03 million over the same timeframe. The tokens driving this wave have familiar DNA. $JIMOTHY hit an all-time high market cap of $46.4 million on July 22. $ANSEM reached a valuation of approximately $169 million. $KET sat at around $15 million. Why dormant wallets matter Kristen Smith, President of the Solana Policy Institute, captured the dynamic at Breakpoint 2025 when she stated...