Solana Active Addresses Fall to 12-Month Low as Memecoin Trading Slows
Active addresses on Solana dropped to about 3.3 million as of Nov. 13, marking the lowest level seen in the past 12 months. The decline coincides with a slowdown in memecoin trading volume, suggesting fading retail enthusiasm for experimental token swaps that previously buoyed network activity. Despite the overall downturn, token launches and activity remain skewed toward a few hubs, with Pump.fun still dominating new token issuance and trading flows. The concentration of engagement matters because it can mute fee revenue, developer interest, and momentum for broader decentralized apps on Solana. For traders and investors, the trend could translate into increased sensitivity of SOL price to sentiment shifts and reduced organic growth drivers until new projects or use cases re-engage users. On-chain metrics and launch-platform dynamics will be key indicators to watch for any reversal in user activity.