It is thought that the rise in SOL had a significant impact on the price rise on the MEW side. It is also accepted that the expectation of spot Exchange Traded Funds (ETFs) existing on the Solana side in the United States and the great interest of Korean cryptocurrency investors have an impact on the rise of MEW.

On July 21, 2024, a cryptocurrency investor named Joshua reported that Upbit, a major cryptocurrency exchange, revealed a daily trading volume of over $90 million in meme coins, including Dogecoin (DOGE) and Shiba Inu (SHIB). he stated.

On the other hand, Bithumb exchange has also listed MEW, and it currently appears that it is not left behind in terms of transaction volume from other meme coins on the exchange. In fact, it even leads the total volume in the spot market, specifically the stock market. On the other hand, the open interest in MEW futures on the exchanges rose above $63.62 million in 24 hours, marking an all-time high.