Solana’s recent price movements suggest a shift in investor sentiment. As meme coins falter, Layer 2 solutions like Solaxy ($SOLX) are stepping up – could they be the next driving force behind Solana’s growth?
The Solana ecosystem has been one of the biggest beneficiaries of the meme coin boom, but recent trends suggest that the hype is fading. Following broader market declines, Solana-based meme coins have plummeted in value, dragging SOL’s price down with them.
On March 10, Solana was trading at $121.45, marking an 8.61% daily decline. This slump coincided with a significant downturn in activity on Pump.fun, Solana’s most popular meme coin launchpad. Pump.fun’s daily revenue fell to $667,000, its lowest level in seven months.
The drop in trading volume was evident across multiple meme coins. Pwease, a JD Vance-themed token, lost 36%, while other high-profile projects like Gigachad and Fartcoin dropped 12.1% and 15.2%, respectively.
Even Trump-related tokens, which have previously sparked interest, saw declines, with TRUMP falling 3.3% and MELANIA dropping 3.5%.
Why Solana’s Meme Coin Market Is Declining
The decline in Pump.fun’s revenue and trading volume has been a steady trend since January, when crypto markets were at their peak. Despite positive regulatory and political developments, the bullish momentum has faded, particularly after the disappointing outcome of Donald Trump’s White House crypto summit.
Many traders had anticipated a major announcement, possibly related to government purchases of Bitcoin and other digital assets. However, when no such plans were revealed, market enthusiasm waned, leading to sharp sell-offs across the board.
Another major factor behind the decline of Solana’s meme coin ecosystem is a series of scandals and security breaches.
The Libra token, which was launched on Pump.fun, turned out to be a rug pull after reaching a valuation of $4.5 billion, shaking investor confidence.
Additionally, in February, hackers managed to compromise the official Pump.fun X account, leading to scammers promoting a fake PUMP token.
With trust eroding and traders moving away from high-risk meme coins, Solana’s next major growth catalyst may come from elsewhere. That’s where Layer 2 solutions like Solaxy ($SOLX) come in.
Solana Layer 2 Coins – The New Growth Driver?
While Solana meme coins struggle, interest in Solana’s first Layer 2 solution, Solaxy ($SOLX), is surging. The $SOLX presale has already raised over $26 million, proving that investors are shifting their focus toward infrastructure projects rather than speculative tokens.
Solaxy aims to solve one of Solana’s biggest issues – network congestion. Despite Solana’s high throughput, it has struggled with reliability during times of heavy traffic. The blockchain has suffered multiple network outages and recent congestion has led to failed transactions and delays.
Could Solaxy Be the Key to Solana’s Future?
Unlike meme coins, which thrive on short-term speculation, Layer 2 solutions provide long-term value. Solaxy acts as a roll-up for Solana, bundling transactions and processing them off-chain before finalising them on the mainnet.
This approach is similar to Ethereum’s Layer 2 solutions, such as Arbitrum and Optimism, which have significantly improved Ethereum’s scalability. If Solaxy can replicate this success for Solana, it could lead to faster transactions, lower fees and a more efficient ecosystem overall.
JOIN THE SOLAXY PRESALE – SOLANA’S FIRST LAYER 2 SOLUTION
With Solana continuing to establish itself as a leading blockchain for DeFi, a functional Layer 2 network could be the missing piece needed to compete directly with Ethereum.
Solana Layer 2 Could Outperform All Expectations in 2025
The introduction of Solaxy ($SOLX) comes at a crucial moment. Just as Solana’s meme coin ecosystem faces uncertainty, Layer 2 technology offers a tangible path forward.
The timing is also critical given Trump’s recent crypto reserve announcement. While Bitcoin and Ethereum were the obvious choices for the US Strategic Crypto Reserve, Trump’s decision to include Ripple ($XRP), Cardano ($ADA) and Solana ($SOL) caught many by surprise.
Now, investors are speculating on whether Solana’s inclusion in the reserve could drive institutional interest, particularly if the US government follows through on its plan to hold SOL as part of its digital asset stockpile.
If the supply of SOL is effectively reduced and Solaxy’s Layer 2 network helps eliminate congestion issues, Solana could be positioned for an even stronger market performance in the years ahead.
Will Solaxy ($SOLX) Follow the Path of Ethereum’s Layer 2 Networks?
One of the biggest success stories in crypto infrastructure over the past two years has been the rise of Ethereum Layer 2 projects. Networks like Arbitrum, Optimism and Polygon have seen explosive growth, with their respective tokens reaching multi-billion-dollar market caps.
Solaxy could follow a similar trajectory. With Solana’s market dominance in DeFi and NFTs, a fully operational Layer 2 solution could unlock new possibilities for developers and traders.
If Solaxy gains adoption, the price of $SOLX could surge, similar to how Layer 2 projects on Ethereum saw exponential growth.
JOIN THE $SOLX PRESALE BEFORE THE NEXT PRESALE PRICE INCREASE
At its current presale price of $0.001662, $SOLX offers an early entry opportunity, much like when Solana was trading at just $0.50 in 2020. Investors who recognised Solana’s potential back then saw returns of over 4,000% and many are now betting on Solaxy to follow a similar pattern.
Solana Meme Coins or Layer 2?
While Solana’s meme coin market is experiencing a downturn, the broader Solana ecosystem remains strong. Rather than relying on hype-driven tokens, Solana’s next major price surge may come from infrastructure projects like Solaxy.
As the first Layer 2 solution on Solana, Solaxy aims to address network congestion, improve scalability and bring long-term stability to the Solana blockchain.
With investor interest shifting from speculation to utility, $SOLX could become one of the most valuable projects in the Solana ecosystem. The presale is closing in on $26 million and with prices set to increase soon, now is the last chance to get in before the next phase begins.
For those looking to capitalise on Solana’s future growth, Solaxy presents a promising opportunity.
