- XXYY has shut down, following Zap and BullX in closing their meme trading products during 2026.
- Solana terminal volumes are down 89% from their peak and Pump.fun revenue has collapsed, as traders rotate into perpetual futures and stablecoin markets.
- The market is sending the signal that the trenches user base that made meme trading platforms rich has moved on.
XXYY is shutting down its memecoin trading platform, according to a Monday announcement. The post confirming the project’s wind-down lands amid a bruising 2026 for the memecoin sector as traders move from the high-risk, high-reward environment that had enjoyed multiple peak cycles in 2024 and 2025.
The memecoin trenches continue to lose traders and projects in 2026, following Zap and BullX taking their trading apps offline this year.
XXYY is shutting down after slow year for memecoin trading
XXYY announced on November 9 that its memecoin platform is shutting down, adding the latest name to a list that has quietly grown as a category that was printing money one year ago has slowed down significantly.
Although it never grew large enough to become a household name in crypto, XXYY was one of the projects that launched and sustained activity amid a meme boom. However, as the trenches dried and meme speculation moved on to other opportunities, the platform followed others in slipping below the sustainability line.
The self-custodial app Zap, which launched as a platform that allowed users to trade memecoins with Bitcoin in 30 seconds, closed on June 1 after the team conceded it did not see a path forward. While Zap reached the 30-second technical target, creator Leonidas King said the project never saw sufficient adoption and eventually ran out of money.
BullX, another meme trading venue, also suspended its trading app to work on next-generation upgrades.
Meme volumes have fallen off a cliff
Solana trading terminals such as Axiom and Photon have seen monthly volumes drop 89% from their peak levels, stalling at their slowest month since September 2023 after pulling $3.8 billion in March 2026. That volume is a fraction of the roughly $35 billion recorded at the height of the TRUMP memecoin rush in late 2025.
The leading Pump.fun memecoin launchpad has also struggled this year, graduating only 0.26% of memecoins launched on the platform every day. Daily revenue also fell to about $800,000 in June, a sixth of the $4.8 million daily haul it was closing six months before.
The slowdown also showed up in Solana network revenue stats, as daily fees slipped from 33,000 in January to 5,300 SOL.
A Bitquery study put numbers on the trader fatigue. 79% of Pump.fun tokens traded only on their launch day, and of nearly nine million tokens tracked, just 1.5% saw any trade by their fifth week.
Notably, capital has not completely vanished. Rather, it has rotated to other categories. On-chain perpetual futures now make up 12.33% of global perp volume as of September 2026, per a Castle Labs report. Hyperliquid is the biggest beneficiary of this shift.
Stablecoin swaps have also moved in, accounting for 23% of on-chain spot volume, SolanaFloor noted.
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FAQs
What is XXYY and why did it shut down?
XXYY was a meme token trading platform that announced its closure on November 9, 2026, joining a wave of trading terminals shutting down as memecoin activity declines.
Which other meme trading platforms have closed in 2026?
Zap, a bitcoin memecoin app, shut down on June 1 after running out of money, and BullX suspended its trading app.
Where are memecoin traders going now?
On-chain data shows capital rotating into perpetual futures, which reached 12.33% of global perp volume in September 2026 per Castle Labs, and into stablecoin swaps, which SolanaFloor says now make up 23% of on-chain spot volume.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
