The Solana (CRYPTO:SOL) ecosystem witnessed a downturn this week as major native tokens experienced significant drops after recent bull runs, signaling profit-taking among early investors.

Notably, meme coin Bonk (CRYPTO:BONK) fell 13%, while others like dogwifhat (CRYPTO:WIF) and analoS (CRYPTO:ANALOS) also saw sharp declines.

Despite the pullback, Solana-based decentralised exchange (DEX) trading volumes remained robust, accounting for a significant portion of the overall DEX activity in the crypto space.

The Solana network's recent surge, fueled by meme coin frenzy and rapid price appreciation, attracted attention from traders and investors, leading to a boom in trading volumes and network activity.

However, the influx of new memecoin issuances has also raised concerns about rug pulls and volatility within the ecosystem.