This year's incredible rise in the market put the spotlight on Solana's meme coins. However, due to market factors and high volatility, the trend seems to be changing. So, what's the deal with Solana's meme coins now?

In the aftermath of the declines, meme coins like Dogwifhat and BONK experienced significant drops of around 15% and 14.8%, respectively. This led to weekly losses of more than 30% for both tokens. BOME and SLERF also saw daily declines, resulting in 36.5% and 16.8% weekly decreases.

Popular coins like BODEN and WEN didn't fare much better, as they also faced substantial losses in both daily and weekly trading.

While most meme coins faced declines, MEW stood out with a positive trend, showing an 11% increase this month and 57% weekly gains.

The recent massive exits in the market indicate a negative outlook for meme coins, similar to what's happening with stocks due to geopolitical events. Bitcoin's drop from $70,000 to $62,000 has also impacted the meme coin market.

In the first quarter of 2024, meme coins on the Solana network gained popularity, but most of those gains have now been reversed. Analysts believe that prices might go up again if the broader market starts moving upwards.