NFT activity has gradually waned over the past year, with only a few spikes and a flat trading pattern across marketplaces. The market share for NFTs has become increasingly concentrated, with OpenSea and Blur accounting for the bulk of trading volume while smaller platforms fade. The shrinking attention has pushed traders toward more liquid venues and away from risk.
CoinMarketCap data shows consistent volume across the largest memecoins, with big names like Dogecoin, Shiba Inu, and Pepe illustrating the staying power of memecoins even on quieter days. A notable portion of the most actively traded tokens in recent days originate on Solana or are heavily traded on that chain. Several Solana-based memecoins post high volume despite smaller market caps, often traded rather than held long-term.
Low transaction fees and fast settlement enable quick entry and exit, sustaining elevated activity. The shift isn’t only about NFTs vs memecoins; it reflects traders’ preference for fast, flexible, and engaging assets. Memecoins meet that demand better right now, and they allow smaller participants to stay active without large upfront commitments, leading to broader participation even if it’s sometimes casual. NFT trading volume remains lower and concentrated on just two marketplaces, while memecoins—especially on Solana—dominate with their speed and affordability.
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