{"id":599754,"date":"2024-11-18T09:32:22","date_gmt":"2024-11-18T09:32:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=599754"},"modified":"2024-11-18T09:32:22","modified_gmt":"2024-11-18T09:32:22","slug":"meme-coin-mania-fires-solana-apps-to-record-fees-and-revenues","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/meme-coin-mania-fires-solana-apps-to-record-fees-and-revenues","title":{"rendered":"Meme Coin Mania Fires Solana Apps To Record Fees And Revenues"},"content":{"rendered":"<p>Apps on the Solana blockchain hit record fees and revenues in the last 24 hours, driven by a surge in activity amid a new wave of meme coin mania following Donald Trump&rsquo;s election win.<\/p>\n<p><span style=\"font-weight: 400;\">Five out of the top 10 protocols in terms of fees in the last 24 hours were on Solana, according to a Nov. 18 <a href=\"https:\/\/x.com\/Dynamo_Patrick\/status\/1858231122456351215\">post<\/a> on X by Patrick Scott, who cited data from <\/span><span style=\"font-weight: 400;\">DefiLlama<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>The <a href=\"https:\/\/www.coingecko.com\/en\/categories\/meme-token\">meme coin sector surged<\/a> another 3.5% to hit a market capitalization of $126 billion in the past day, adding to turbocharged gains last week.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/pexx.com\/chaindebrief\/wp-content\/uploads\/2021\/09\/Raydium-FI.jpg\" alt=\"Raydium: The Go-To Place For Trading Solana's DeFi Tokens\"><\/p>\n<h2><span style=\"font-weight: 400;\">Raydium Sets A New Fee Record<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Raydium, the Solana-based market maker, achieved a record $11.31 million in fees on Nov. 17. Liquid staking protocol Jito also saw a surge in activity during the same day, pushing the decentralized platform&rsquo;s daily fees to $9.87 million. This marked Jito&rsquo;s third-highest day of fees as well.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Raydium is generating $219MM of annualized protocol revenue. Right now the market is mostly taking a barbell approach (majors and AI\/memes) but when the fundamentals\/growth are so wild like this it can't be ignored. Just needed a SOL breakout for liftoff. Already up 26% today <a href=\"https:\/\/t.co\/sKAXegYo9o\">pic.twitter.com\/sKAXegYo9o<\/a><\/p>\n<p>&mdash; Austin Barack (@AustinBarack) <a href=\"https:\/\/twitter.com\/AustinBarack\/status\/1858005334528344469?ref_src=twsrc%5Etfw\">November 17, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Pump.fun, the popular Solana meme coin launchpad, registered its seventh-highest 24-hour revenues yesterday after it netted $1.65 million in fees. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, Solana meme coin Telegram trading bot Photon was the seventh-highest earning product overall on Nov. 17. It also recorded its fifth-highest day of fees after generating $2.36 million yesterday.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Solana Tokens Lead Revived Meme Coin Mania<\/span><\/h2>\n<p><a href=\"https:\/\/www.coingecko.com\/en\/categories\/solana-meme-coins\"><span style=\"font-weight: 400;\">Meme coins on Solana<\/span><\/a><span style=\"font-weight: 400;\"> surged more than 6% in the past 24 hours, led by sm<\/span><span style=\"font-weight: 400;\">aller-cap tokens. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">HahaYes (RIZO) emerged as the top 24-hour performer after its price surged 387% to trade at $0.00008963 as of 3:40 a.m. EST. This was a continuation of its impressive weekly performance, which was pushed to over 5,563% following the recent gain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dasha (VVAIFU) and Top Hat (HAT) took second and third places, respectively. VVAIFU soared 153%, while HAT posted a 107% 24-hour gain.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Solana meme coin leaders Dogwifhat (WIF) and <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/bonk-price-prediction-can-solanas-top-meme-coin-reach-0-0001\"><span style=\"font-weight: 400;\">Bonk<\/span><\/a><span style=\"font-weight: 400;\"> (BONK) were unable to capitalize on the recent hype. WIF plunged over 6% in the last 24 hours, while Bonk saw its price drop 2%.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/xrp-price-shatters-1-with-potential-to-skyrocket-400-to-5-but-these-meme-coins-could-soar-even-higher\"><span style=\"font-weight: 400;\">XRP Price Shatters $1 With Potential To Skyrocket 400% To $5, But These Meme Coins Could Soar Even Higher<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/new-maga-backed-politifi-coin-freedum-fighters-dum-hurtles-past-500k-plans-to-dominate-trump-2-0-era\"><span style=\"font-weight: 400;\">New MAGA-Backed PolitiFi Coin FreeDum Fighters (DUM) Hurtles Past $500K, Plans To Dominate Trump 2.0 Era<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/ripple-price-prediction-for-today-november-17-xrp-technical-analysis\"><span style=\"font-weight: 400;\">Ripple Price Prediction for Today, November 17 &ndash; XRP Technical Analysis<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Newest Meme Coin ICO - 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