Solana’s Memecoins fever: A Deep Dive into Emerging Trading Platforms

Find out the secret behind Solana's booming memecoin trading scene. We'll tell you how innovative platforms like Bullx, Photon, and Axiom are setting new standards in the crypto market.

Introduction

What is a meme?

In the most simple terms, a meme is a joke, humorous image, or ironic phrase, but there's more to it than that.?

Memes are actually a complex way to communicate and express culture, going beyond just being funny. You can think of a meme as a unit of information like an idea, a concept, or a belief that spreads through the internet by email, chat, forums, social networks etc.?

Memes have become a big deal in today's world. Digital communities use them to spark conversations, critique societal norms, or express collective feelings.

This cultural influence has even spread to unexpected areas, like finance, where it has introduced memecoins — cryptocurrencies inspired by meme culture.?

And currently Solana is the leading player in this field

Solana and Memecoins

Without getting into the whole history of memecoins it's worth mentioning that once being a mere novelty, experiment and a form of entertainment, memecoins evolved into a significant financial force in the crypto world.

This transformation of memecoins from internet memes to serious financial instruments has forced traders to rethink their strategies.?

The dramatic price swings of these coins require tools that can process information very quickly. In this context, Solana's high transaction speed and low fees have proven to be a suitable infrastructure to meet these demands

The Role of Pump.fun

The quintessential platform, without which we wouldn't have a conversation on Solana’s memecoins popularity is Pump.fun, both a no-code launchpad and a decentralized exchange - it is the most popular tool for creating new memecoins and trading them.?

With a few clicks anyone can create their own memecoin for free. Some even argue that this low/zero cost of memecoin creation has ruined the memecoin market. Nevertheless, it is undeniable that the creators of pump.fun significantly contributed to the growth and popularity of memecoins.

But, despite the fact that almost all Solana memecoins are being created on the pump platform, relying solely on the pump’s exchange UI is not enough to break ahead in this competitive and fast-paced environment.

Advanced Trading Platforms

As the market evolves, relying solely on Pump.fun's exchange is no longer enough. Advanced trading platforms like Bullx Neo, Photon, and Axiom provide powerful tools for traders.

Shared features

• Non-custodial smart wallets creation upon registration?
• Memescope: Serving as the central hub for meme traders, Memescope offers comprehensive insights into new, pre-graduation, and graduated tokens.
• Advanced filtering?
• Trading with high processing speed

These functionalities are the foundation of each platform, and the absence of even one significantly diminishes its utility and makes it not very effective to be used for the traders.

While these features are common across platforms, each one also offers unique capabilities designed to meet the specific needs of memecoin traders.

Comparing the Top Platforms

• Photon

1. Time restricted Take Profits and Stop Loss?
2. Filtration of aggregated tokens by keyword(s)
3. Deposit SOL on an embedded wallet via moonpay
4. Leaderboard with top traders

There are no other features that could somehow make Photon stand out - the lack of more advanced features that would help Photon compete with the other two rivals puts it at the entry level of advanced trading platforms.

• BullX Neo

1. Embedded ohlc charts: users can preview the price chart of each token on the memescope page
2. Number of snipers, insiders that are holding a token or graduation success of a developer
3. Advanced trading page with more insights on holders, token statistic and more sophisticated trading features like custom grid selling strategy
4. Advanced wallet management mechanism
5. Wallet tracking: feature that allows bullX users to add any Solana wallet and track their trades in real time
6. Ability to view and analyze trading history of different bullX users
7. Multi chart: price charts for different tokens on the same screen??
8. X crypto related tweets tracker

Compared to Photon, Bullx Neo is considered a more comprehensive application.? It was the preferred choice for both experienced and less experienced memecoin traders until a new player, Axiom, entered the game.

• Axiom

1. Bundle holding of a token: ability to track this metric is huge since if high then it has a huge risk of being dumped. Unfortunately bullX doesn’t have this feature
2. More advanced filters
3. X handle reuse and X account creation time
4. Advanced trading features: buy when developer is selling, buy on migration?
5. Ability to use custom RPC for faster transactions processing
6. Dexscreener paid: huge indicator for finding promising coins
7. Hyperliquid integration for perpetuals trading with leverage (up to 50x)
8. Higher transaction execution success rate even with relatively low bribe and priority fees

Taking all these novelties into account the Axiom platform can be considered a state of the art memecoin application on Solana.?

However, compared to Bullx, this platform has some drawbacks, such as no chart preview, which is very important for filtering out noise by checking token price charts; 5 min Price Change/Volume; not free to use twitter fees tracker: need to have a specific trading volume on your account to be able to access it; no DCA trading feature.

Future of Trading Platforms

Despite the fact that the current state of trading platforms for trading memecoins is at a rather high level, there is still room for growth.

We have divided this “growth” into two lists: Missing features that we think are very important and features that are optional but also useful.

Memecoin trading is evolving, and platforms must continuously innovate with regular updates to stay relevant. The most successful platforms will be those that deliver timely improvements aligned with user needs.

Conclusion

Now, as of 03.03.2025, it is not clear which platform is the best, but we can be sure that each of these platforms is striving to keep up or even overtake the other platforms, and this rivalry is only for the benefit of traders, and we are waiting to see what new features will be available to us in the near future