With Solana drowning, memecoins are being the lifeline

In the last 7 days, most of the narratives on this network have shown negative returns.

The use of NFTs, Real World Assets and DEPIN fell by up to 18% in the last week.

Interactions with the memecoin sector on Solana increased by 16% in the last 7 days.

So far in October, most of the narratives on Solana (SOL) have experienced a drop, while memecoins stand out as the sector with the highest use of this network.

Interactions with these tokens based on pets, public figures or internet memes grew by 16% in the last seven days. Some of them, such as GIGA, SKBDI and TRUMP, saw their price soar in that period by up to 76%, 66% and 36% respectively, according to data from CoinMarketCap.

In addition, the investment instrument yield farming (users lend or invest their digital assets to earn interest) was the other narrative that showed an increase in its use, accumulating an 8% rise in the last week.

This information can be seen in the following graph that expresses the trending narratives within the Solana ecosystem. In violet, the increase in the use of memecoins and yield farming and, to the right of the image, the fall in the rest of the narratives.

BONK NEIRO 1MBABYDOGE