Soluna Launches to Remind Solana Who Pays the Bills

Summary

• soluna launched on Feb 10 as a direct response to claims that Solana is trying to distance itself from its memecoin identity.

• A post from @solunamovement argued that 94.9% of all memecoin trading volume between October 2024 and January 2025 happened on Solana, framing memecoins as the chain’s core driver.

• The coin positions itself as a protest in coin form, aimed at reminding Solana leadership that memecoins built the ecosystem.

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The conversation started with a long post from soluna’s account arguing that Solana has an identity problem, following Toly’s FUD on memecoins. The thread claimed that while leaders promote institutional adoption and tokenized finance, the actual usage tells a different story. It stated that 94.9% of global memecoin trading volume between October 2024 and January 2025 took place on Solana, with 2025 memecoin volume reaching $482B. The post framed memecoins as the primary reason people use the chain.

The same thread referenced commentary suggesting Solana needs to “shake off” its memecoin image to attract more serious financial builders. soluna compared this to a restaurant disowning the burgers that made it profitable, arguing that ecosystem growth, activity, and infrastructure were funded by meme trading.

Shortly after, Traderpow echoed the sentiment.

soluna presents itself not as a random launch but as a statement. Its core message is simple: memecoin culture built Solana’s activity, and it is not going away. It reached an ATH of $2.6M within it's first day of launch.