Decentralized application revenue on Solana reached a new record high, mainly generated from meme coin-related transactions and tools.

According to Syndica’s research, Solana (SOL) native DApps garnered $365 million in revenue during November 2024, a new monthly high for the popular layer-1 blockchain network.

Solana’s decentralized finance ecosystem was the leading port of call for revenue. SOL DeFi comprised almost 84% of cash raised last month, compared to wallets and infrastructure, which attracted less than 15%.

Among DeFi activity, meme coins and meme-supportive protocols dominated SOL revenue. Meme coin DApps monthly revenue surged 305-fold in 2024, raking in over $500 million. Pump.fun, crypto’s most popular meme token launch pad, led Solana protocol revenue last month with $106 million, a first for the young project.

Telegram bots solidified their presence within SOL’s ecosystem. The category has amassed the second biggest revenue stream after meme coin DApps, recording over $300 million this year. Meme traders regularly tap bots like Trojan, Banana Gun, and BONKbot to invest in new trendy launches directly from Pavel Durov’s private messaging platform.

Meme coins and meme coin DApps may be Solana’s main characters, but the ecosystem rapidly expanded to include several active players. Syndica’s research reported a parabolic jump in “high-quality players” within SOL’s ecosystem. Researchers noted an increase in protocols earning over $10,000 to $10 million monthly revenue.

The report highlighted SOL’s Decentralized Physical Infrastructure as a major sector in the early stages of revenue generation. DePIN, as crypto natives call it, refers to maintaining and providing real-world services like servers using individual blockchain resources.

Protocols such as Render, Nosana, Helium, and Hivemapper have recently seen strong demand for their services, driving notable revenue growth. Render’s decentralized compute network is currently the largest revenue driver in the DePIN sector.

Syndica report

The price of GOUT has surged over 70% as Ethereum shows signs of reclaiming the $4,000 level.

According to CoinGecko data, the price of GOUT has pumped from a 24-hour low of $0.0003233 to as high as $0.0005573 at press time.

The meme coin has also seen its price go up by over 140% in the last seven days.

Apart from the general meme coin volatility, GOUT has released its independent research and development task platform, which could have bolstered the price.

In addition, GOUT was selected as the first project by the BNB Chain for their 33 BNB daily meme coin airdrop.

The meme coin project has also been actively donating, with one of the recent donations going to help stray dog families around the world.

Stacks and MAD trends on CMC

Stacks has risen as the second-top gainer out of the top 100 altcoins. The coin price has seen its price rise from $2.17 to as high as $2.45 in the last 24 hours.

Stacks has announced that they will unlock Stack’s BTC in the next week, where users can receive free Bitcoin (BTC) rewards. In addition, they have announced five days of sBTC giveaways and a partnership with Hex Trust.

Another Solana (SOL)-based meme coin, MAD, has been trending on CMC. One of the visible reasons for the extended visibility of the coin is most likely the recent Gate.io trading competition. The exchange had announced a $36,000 MAD prize pool for its trading competition.

The meme coin was also recently listed on the Phemex exchange. MAD hasn’t shown a major price change in the last 24 hours. However, it has risen close to 20% in the last seven days.

The surge in the value of these coins is happening as BTC reclaimed the $103,000 level and Ethereum (ETH) is inching closer to the $4,000 level.

Three coins have risen to the top of the leaderboard: The Dogeson, a playful nod to Elon Musk, his son and Dogecoin; Shiro Neko, a cat-themed token tied to gaming and NFTs; and Orbit, a space-inspired coin.

These tokens topped the gainers’ charts on Saturday night. Here’s a closer look at each.

Dogeson

The Dogeson (DOGESON), a Doge-inspired coin named after an edited photo Elon Musk posted of himself and his son, X Æ A-12, is up more than 90% at last check Saturday.

With a market cap reaching $146.6 million, the token is built on the Ethereum blockchain and has garnered attention for its narrative of a “space-bound Doge” — meshing humor with a decentralized finance (DeFi) theme​.

Details about The Dogeson’s founding team or developers were not immediately clear.

Shiro Neko

Shiro Neko (SHIRO) is a new cryptocurrency project that blends blockchain technology with play-to-earn (P2E) gaming.

Its ecosystem is built around a native token that can be used for in-game purchases, staking, and governance.

It’s up over 83% at last check, with a market cap of about $441 million.

The project emphasizes a community-driven approach, immersive gaming experiences, and collectible in-game assets, including NFTs. It aims to attract both gamers and crypto enthusiasts through competitive challenges and real-world rewards​

Shiro Neko is also building on Shibarium, the Layer 2 blockchain for the Shiba Inu ecosystem, further anchoring itself in a popular crypto community. Additionally, the project is venturing into entertainment by launching an animated series featuring “Shiro” the cat.

The token recently had its Initial Exchange Offering (IEO) on Gate.io, with 88 billion tokens available for sale, representing 0.01% of its total supply of 1 quadrillion tokens.

This reflects a focus on early adoption and community-building in the crypto-gaming landscape​.

Orbit

Orbit (ORBIT) was up 77.6% at last check Saturday, with a market cap of roughly $44 million.

Built on the Blast Chain, the native utility token of the Orbit Protocol serves multiple purposes including facilitating governance, incentivizing participants, and enabling staking for rewards.

The protocol also boasts a Total Value Locked (TVL) of over $6.4 million and a fixed total supply of 100 million.

As of now, ORBIT’s market performance shows significant price fluctuations, with a 24-hour range of $0.02543 and $0.06379.