PEPE Hits $40M Trading Volume on Solana via Sunrise
The Ethereum-native meme token PEPE saw $40 million in trading volume on Solana within roughly a day of its launch through the Sunrise orchestration layer.
PEPE, the frog-themed meme token originally from Ethereum, recorded $40 million in trading volume on Solana in approximately 24 hours. The token was introduced to the network through Sunrise, an asset orchestration layer utilizing Wormhole infrastructure.
The volume milestone was reported by Sunrise on September 19. This activity follows a broader trend for the platform, which saw its listed assets reach $10 billion in cumulative Solana trading volume by early September 2026.
Sunrise functions as an orchestration layer rather than a traditional bridge or launchpad. The platform focuses on creating canonical tokens to avoid the issue of competing wrapped variants. This approach allows a single version of an asset to be distributed across Solana decentralized exchanges such as Raydium, Orca, and Meteora with integrated liquidity.
The rapid trading volume suggests demand for meme tokens on Solana, where transaction costs and speeds differ from Ethereum. The launch of PEPE on Solana also occurred during a wider market rebound that had already increased trading volumes for the token across various venues.
For Wormhole Labs, the team behind Sunrise, the performance of PEPE serves as a test for the canonical token model. The platform aims to allow tokens native to other chains to integrate into the Solana DeFi ecosystem without liquidity fragmentation.
Sunrise has been operating since November 2025, with the goal of facilitating cross-chain asset migration to Solana.
