Blockchain analytics firm Nansen has spotlighted three meme coins on the Solana network, $USELESS, $SPX, and $FEFE, as the top tokens gaining traction across price, volume, and social metrics.
In a new report shared on October 10, Nansen described Solana’s meme coin ecosystem as “accelerating at unprecedented speed,” driven by record trading volumes and a surge in community participation.
Blockchain analytics firm has spotlighted three meme coins on the Solana network, $USELESS, $SPX, and $FEFE, as the leading tokens gaining traction across price, volume, and social metrics.
According to the data, $USELESS stands out as the leading performer, showing exceptional growth in both trading activity and online presence.
$USELESS Dominates Solana’s Meme Market
Nansen reported that $USELESS recorded a 165% jump in daily trading volume, climbing from $18.5 million to $49.1 million within a single day. Over the past seven days, the token skyrocketed 999%, representing a tenfold move that pushed its market cap to $371 million with $8.4 million in DEX liquidity.
The report also revealed that $USELESS flipped other Solana-based meme coins like FARTCOIN, PENGU, and TOSHI in Coinbase’s 24-hour volume rankings, making it the second most-traded meme coin behind DOGE. With an expanding social footprint and sustained hype, $USELESS has emerged as Solana’s most dominant community-driven asset.
However, Nansen analysts warned that $USELESS carries extreme volatility, noting it is best suited for traders who entered early or those seeking high-risk, high-reward opportunities.
$SPX and $FEFE Offer Contrasting Paths for Investors
While $USELESS captured the spotlight for its explosive rally, $SPX presents a more balanced and established alternative. Boasting a $1.4 billion market cap, $SPX has gained 14.8% over the past week, supported by $24 million in trading volume and $11.7 million in DEX liquidity. Nansen’s analysis identified it as a lower-volatility option that appeals to conservative investors seeking steadier exposure within Solana’s meme coin scene.
In contrast, $FEFE is classified as a “high-risk moonshot”, drawing attention from traders chasing speculative upside. Its smaller market size and volatility make it a potential breakout candidate, but also one of the riskiest among the three highlighted assets.
Here's some memes on @solana that seem to be gaining traction:
– $USELESS: Price performance, Volume Explosion & Social Dominance
– $SPX: Established large cap
– $FEFE: High risk moonshotAdditional considerations: $POPCAT, $NUB, $BAN pic.twitter.com/8v9QVEJpOw
— Nansen 🧭 (@nansen_ai) October 10, 2025
Additional Meme Coins to Watch
Nansen also named $POPCAT, $NUB, and $BAN as secondary coins worth tracking. These tokens have shown steady increases in trading activity and liquidity, reflecting Solana’s growing appeal as a hub for meme coin innovation and community engagement.
Conclusion
Nansen’s findings confirm that Solana is currently the epicenter of meme coin momentum, hosting some of the most active and fastest-growing tokens in the market. With $USELESS leading in social dominance, $SPX providing stability, and $FEFE catering to high-risk traders, Solana continues to attract both retail and institutional attention in the ever-evolving meme coin landscape.
