{"id":8620,"date":"2025-01-20T11:47:02","date_gmt":"2025-01-20T11:47:02","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=8620"},"modified":"2025-01-20T11:47:02","modified_gmt":"2025-01-20T11:47:02","slug":"solana-hits-gridlock-amid-melania-congestion-its-time-for-a-solana-layer-2","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=8620","title":{"rendered":"Solana Hits Gridlock Amid $MELANIA Congestion: It\u2019s Time For a Solana Layer-2"},"content":{"rendered":"
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MELANIA meme coin is trending, but as interest spikes, Solana is struggling under heavy load \u2013 fuelling demand for layer-2 scaling; luckily, Solaxy is building a Solana layer-2.<\/p>\n

Meme coins on Solana are back in the picture again. In 2024, Pump.fun<\/a> was the primary driver of SOL prices, thanks partly to the explosion of tokens like Popcat and PNUT hitting the market through the launchpad. <\/span><\/p>\n

In 2025, all the buzz around meme coins has been due to the actions of Donald and Melania Trump. Within 36 hours, they released meme coins, both of which have soared to multi-billion valuations.<\/span><\/p>\n

MELANIA and TRUMP tokens launched on Solana, funneling demand for meme coins. <\/span><\/p>\n

Hours after launching, MELANIA soared to a <\/span>market cap<\/span> of over $1.8 billion, flipping some of the most successful meme coins on Solana, including WIF and BONK.<\/span><\/p>\n

\"MELANIA<\/p>\n

(Source<\/a>)<\/p>\n

MELANIA Crypto Is Soaring: But Will It Spark a Divorce?<\/span><\/strong><\/h2>\n

MELANIA now has a market cap of $1.6 billion. <\/span>At this pace, it is outpacing TRUMP<\/a>, a meme coin that\u2019s now also one of the most valuable on Solana.<\/span><\/p>\n

\"MELANIA<\/p>\n

(Source<\/a>)<\/p>\n

By Sunday, TRUMP was trading at over $70.<\/span><\/p>\n

However, MELANIA\u2019s launch forced TRUMP prices to lower, causing a 30% drop to around $50.<\/span><\/p>\n

As popular as both meme coins are, they have been criticized.<\/span><\/p>\n

Additionally, they are <\/span>centralized<\/span><\/a>, as seen in the distribution of tokens via Solscan.<\/span><\/p>\n

There is something else going on behind the scenes.<\/span><\/p>\n

Solana Struggling Against Major Congestion<\/span><\/strong><\/h2>\n

It all concerns the success of TRUMP and MELANIA meme coins. <\/span>That both tokens are running on Solana has put a strain on the platform.<\/span><\/p>\n

The network is struggling to keep up with the sharp spike in transaction processing demand.<\/span><\/p>\n

Earlier today, the network was congested<\/a>, increasing the transaction failure rates to as high as 70%.<\/span><\/p>\n

\"MELANIA<\/p>\n

That means that<\/span> for every 10 transactions posted, only three went through.<\/span><\/p>\n

This development can be pinned to on-chain trading of meme coins.<\/span><\/p>\n

According to Jito Labs, Solana\u2019s Block Engine API was \u201cseverely\u201d degraded earlier today due to \u201cunprecedented load levels.\u201d <\/span><\/p>\n

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The @jito_labs<\/a> Block Engine API is experiencing severe degradation due to unprecedented load levels. <\/p>\n

Our engineering team has been actively mitigating the issue for several hours. While the Solana network continues to operate and process blocks, transaction submission through\u2026<\/p>\n

\u2014 buffalu (@buffalu__) January 20, 2025<\/a><\/p>\n<\/blockquote>\n