Solana’s Memecoin Boom May be Over: Analyst Sees Slowed Growth & Long-Term Potential

Solana’s rise as a memecoin hotspot may be slowing down, according to Standard Chartered. The bank suggests the blockchain is shifting its focus towards more sustainable sectors like decentralized finance (DeFi) and social applications, even though its short-term growth is expected to slow in the next two to three years. While it achieved success through fast transaction speeds and low fees, making it the go-to network for meme-based tokens, analyst Geoffrey Kendrick believes this trend has reached a peak.