The meme token PEPE, originally native to Ethereum, has reached $40 million in trading volume on the Solana network. This milestone was achieved within approximately 24 hours of the token's debut on the platform, as reported by the orchestration layer Sunrise on September 19, 2026.
Sunrise, which operates on Wormhole infrastructure, facilitates the migration of assets to Solana. The platform utilizes a canonical token model to prevent the fragmentation of liquidity by creating a single official version of an asset, which is then distributed across decentralized exchanges such as Raydium, Orca, and Meteora.
Prior to the launch of PEPE, assets listed on the Sunrise platform had collectively surpassed $10 billion in cumulative trading volume by early September 2026. The platform, which launched in November 2025, aims to integrate external tokens into the Solana DeFi ecosystem.
The rapid trading activity for PEPE on Solana is attributed to the network's lower transaction costs and higher speeds compared to Ethereum. Wormhole Labs, the developer behind Sunrise, views the performance of PEPE as a validation of its canonical token strategy for scaling cross-chain asset migration.
