- Dogecoin’s recovery stalls as Solana-based meme coins like Fartcoin and Buttholecoin surge in value.
- The shift in market sentiment signals potential challenges for Dogecoin’s dominance in the meme coin space.
The meme coin market is witnessing a major shake-up as Solana-based tokens like Fartcoin (FARTCOIN), Buttholecoin (BUTTHOLE), and SPX6900 surge in value, while Dogecoin (DOGE) struggles to regain lost ground. Over the past 24 hours, these lesser-known Solana tokens have skyrocketed between 38% and 53%, leaving Dogecoin’s modest 4% recovery in the dust.
Dogecoin’s Rocky Road
Dogecoin, the original meme cryptocurrency, has been facing difficulties after plummeting to a 2025 low earlier this week. Despite its recent rebound to $0.337, DOGE remains down 5% on the week and well below its mid-January peak of $0.43.
The coin’s decline coincided with the launch of Donald Trump’s Solana-based meme coin, which appears to have diverted attention away from Dogecoin. Additionally, DOGE’s open interest in futures contracts has fallen by $1.7 billion from its January 17 peak of $5.5 billion, signaling decreasing confidence among investors.
Solana Meme Coins Steal the Spotlight
As Dogecoin struggles, Solana meme coins have taken center stage. Fartcoin (FARTCOIN), which had dropped out of the top 100 earlier this week, has rebounded 38% in the last 24 hours to a price of $1.27. However, Fartcoin remains 15% down on the week and 50% below its all-time high after a large token sale by its creator, Andy Ayrey. Despite this, the coin is seeing renewed interest, fueled by a bizarre viral story involving a U.K. woman convicted in a “cyber-farting” scandal.
Buttholecoin (BUTTHOLE) has seen an even bigger rally, surging 53% in one day and reaching a $61 million market cap. Despite its gains, it remains outside the top 100 cryptos.
Meanwhile, SPX6900, another Solana meme coin, has jumped 27% in the past day, re-entering the top 100 but still sitting 22% below its all-time high.
Shifting Meme Coin Dynamics
The recent surge in Solana-based meme coins highlights a growing shift in the market. While Dogecoin struggles with declining investor interest, Solana’s meme coins are thriving on speculative hype, viral trends, and rapid price swings.
As the meme coin space evolves, Dogecoin’s dominance is being challenged. Whether DOGE can reclaim its position as the top meme coin remains uncertain, especially as Solana continues to attract attention and capital. The coming weeks will be crucial in determining whether this trend is temporary or a sign of a broader meme coin market transformation.
