XXYY is shutting down its memecoin trading platform, according to a Monday announcement. The wind-down lands amid a bruising 2026 for the memecoin sector, as traders move away from the high-risk, high-reward environment that enjoyed multiple peak cycles in 2024 and 2025.

The memecoin trenches have continued to lose traders and projects through 2026, following Zap and BullX, which both took their trading apps offline earlier this year. With XXYY joining them, three dedicated meme trading apps have now gone offline in 2026 alone — a retrenchment that matches the volume and revenue data stacking up across the sector.

XXYY winds down after a 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 the meme boom. As the trenches dried up and meme speculation shifted to other opportunities, the platform followed others in slipping below the sustainability line.

It is not the first such closure. Zap, a self-custodial app that launched as a platform allowing 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 its 30-second technical target, creator Leonidas King said the project never saw sufficient adoption and eventually ran out of money. Ahead of the shutdown, the team directed users to export their funds before the June 1 deadline.

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 figure 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 the memecoins launched on the platform each day. Daily revenue fell to about $800,000 in June, a sixth of the $4.8 million daily haul it was posting six months earlier.

The slowdown also showed up in Solana network revenue statistics, with daily fees slipping from 33,000 SOL 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; it has rotated into other categories. On-chain perpetual futures now account for 12.33% of global perp volume as of September 2026, according to a Castle Labs report, with Hyperliquid the biggest beneficiary of the shift. Stablecoin swaps have also moved in, making up 23% of on-chain spot volume, as SolanaFloor noted.

For the remainder of 2026, the markers to watch are the same ones charting the decline — monthly terminal volumes, Pump.fun graduation rates, and Solana's daily fee totals — along with whether further meme trading venues join Zap, BullX, and XXYY in going offline.