The cryptocurrency market is ablaze with a renewed memecoin frenzy, particularly concentrated on the Solana and Base blockchains. Fuelled by low transaction fees and lightning-fast speeds, these chains have become playgrounds for traders seeking explosive gains, but also navigating immense risks. This deep dive explores the driving forces behind the memecoin surge, identifies the top performers, analyzes the market impact, and provides expert insights on what to expect in the coming days and weeks.
Solana and Base: The Perfect Breeding Grounds for Memecoins
Solana and Base have emerged as the preferred ecosystems for memecoin creation and trading, thanks to their distinct advantages. Solana, with its high throughput and low fees, enables high-frequency trading, attracting both retail and sophisticated traders. The recent launch of the Firedancer validator client further enhances Solana’s capacity, potentially leading to even greater transaction volumes without network congestion. Base, as Coinbase’s layer-2 network, benefits from seamless integration with a major exchange, providing easy access for a massive user base. Its low fees and fast transaction times also contribute to its appeal as a memecoin hub.
The data speaks for itself. Solana’s DEX volumes have exploded, with a 39% weekly jump, driven by the resurgence of memecoins. The total market capitalization of Solana memecoins has surged to $6.8 billion, with daily trading volume reaching over $2.57 billion. Base is also experiencing a similar surge in activity, with new memecoins constantly emerging and gaining traction.
Top Performing Memecoins: A Wild Ride to the Top
Several memecoins on Solana and Base have delivered astronomical gains in recent weeks, capturing the attention of the crypto community. While past performance is never indicative of future results, here are some of the standout performers:
- BONK (Solana): BONK, a dog-themed memecoin, has been a consistent performer in the Solana ecosystem. It plays a major role across different sectors, including marketplaces and decentralized applications. BONK has experienced a significant rebound in January 2026, drawing renewed interest and testing breakout zones.
- PENGU (Solana): Inspired by the Pudgy Penguins NFT collection, PENGU has gained traction due to its strong brand recognition. It’s trading volume has climbed significantly as it tries to sustain its upward momentum.
- 114514 (Solana): This Japanese-inspired memecoin has delivered eye-watering returns to early investors. One wallet turned a small $321 investment into over $2.18 million in just 11 days! It has shown strong bullish momentum, advancing within a clearly defined ascending channel.
- BRETT (Base): BRETT, often referred to as Base’s “spiritual best friend of Dogecoin,” is a popular memecoin on the Base network with a large market capitalization. It boasts a steady rise in market capitalization.
- TOSHI (Base): Toshi is based on a blue cat and it aims to become the ‘Face of Base’. Toshi is building long-term value for its holders. This includes a launchpad for new Base projects, a decentralized exchange for simple and private token swaps, a token launcher, and a liquidity-locking feature.
- PEPE (Ethereum): While not on Solana or Base, PEPE’s performance has a halo effect on the ecosystem. The frog-themed memecoin has surged, leading the broader memecoin market rally. Its high liquidity on centralized exchanges and robust DeFi presence make it accessible to a wide range of traders.
It’s crucial to note that memecoin prices are incredibly volatile, and these tokens can experience dramatic pumps and dumps in short periods. Investing in memecoins carries substantial risk, and investors should only allocate funds they can afford to lose.
Market Impact: Solana and Base Shine, Bitcoin Holds Steady
The memecoin frenzy has had a noticeable impact on the broader cryptocurrency market. Solana (SOL) has strengthened above $130, driven by the revival of its ecosystem and growing institutional interest. Morgan Stanley is even seeking SEC approval for a Solana ETF, which would further legitimize the platform. The increased activity on Solana’s DEXs has also led to higher transaction volumes, benefiting the network. As of today, January 9, 2026, Solana is trading around $140, with a 24-hour trading volume of $4.74 billion, up 22%.
While Solana and its memecoins are enjoying a surge in popularity, Bitcoin (BTC) remains relatively stable, holding above $90,000. This stability provides a foundation for altcoins and memecoins to thrive, as traders seek higher-risk, higher-reward opportunities. However, it is worth noting that BROCCOLI (CZ’s dog) stood out as the top performer on BNB Smart Chain (BSC), surging 170% over the week.
The overall memecoin market capitalization has jumped significantly in January, rising from around $35 billion to over $47 billion. This surge indicates a renewed risk appetite among investors, as capital rotates from defensive positions into high-beta, sentiment-driven assets.
Expert Opinions: Community, Utility, and Caution
Experts and analysts have varying perspectives on the memecoin phenomenon. Some emphasize the importance of community and utility in driving the long-term success of memecoins. Jesse Pollak, lead developer for Coinbase’s Base network, argues that memecoins serve as “coordination points for community” that bring people together and create a context for collective creation. Others are more cautious, warning about the risks associated with investing in these highly speculative assets.
Tomas Fanta, principal at the crypto investment firm Heartcore, believes that Solana needs to “shake off the stamp of ‘memecoin [or] NFT’ chain” and position itself as a serious platform for Web2 and Web3 financial businesses. He emphasizes the importance of attracting more professional financial and enterprise-level developers to build on Solana. Another expert has warned about a lawsuit over meme coin practices, threatening Solana’s reputation and ecosystem growth.
Price Prediction: Volatility Ahead
Predicting the future price of memecoins is notoriously difficult, given their reliance on social sentiment and market hype. However, some analysts have offered their perspectives on the potential trajectory of Solana and its memecoins in the short term.
Next 24 Hours: Given the current momentum, memecoins on Solana and Base are likely to experience continued volatility in the next 24 hours. Some tokens may see further gains, while others could face sharp corrections as early investors take profits. Traders should exercise caution and manage their risk accordingly.
Next 30 Days: The outlook for the next 30 days is more uncertain. If Bitcoin can maintain its stability above $90,000, memecoins could continue to benefit from a risk-on environment. However, any significant downturn in the broader market could trigger a sell-off in memecoins, leading to substantial losses. Solana (SOL) is trying to establish itself above the support level of $138. A strong breakout with volume could confirm a bullish trend. Should it break the $145 resistance, analysts are targeting $152 and potentially $160.
Longer-term, the success of Solana and Base as memecoin hubs will depend on their ability to attract new users, foster innovation, and address the risks associated with these speculative assets.
Conclusion & Outlook
The memecoin frenzy on Solana and Base is a double-edged sword. On one hand, it’s driving increased activity, attracting new users, and generating buzz around these ecosystems. On the other hand, it’s creating a highly speculative environment where investors are at risk of significant losses. Whether or not this memecoin frenzy is sustainable will be determined by Bitcoin’s ability to hold strong, and whether ETF speculation becomes a reality. As always, caution and due diligence are advised when navigating the volatile world of memecoins.
