In the fast-paced world of crypto, where meme tokens can skyrocket overnight, a recent tweet from analyst Shaunda Devens at Blockworks Research has shed light on some eye-popping numbers from Hyperliquid. For those new to the scene, Hyperliquid is a decentralized perpetual futures exchange built on its own layer-1 blockchain, known for its high-speed trading and innovative features. Devens shared a chart highlighting the launch volumes of new tokens in 2025, totaling a staggering $125 billion in trading activity.

This volume translates to roughly $62.5 million in revenue for the platform, based on a conservative 5 basis points (0.05%) fee structure. That's not pocket change—it's a testament to how meme tokens continue to drive massive liquidity in the blockchain space. The median volume per launch sits at $1.31 billion, but as the chart shows, outliers like MELANIA and TRUMP dwarf the rest, pulling in billions on their own during their debut weeks.

Top Performers in Hyperliquid's 2025 Launches

Breaking down the data, week 2 saw MELANIA dominate with over $16 billion in volume, followed closely by TRUMP in week 1 at around $9 billion. These politically themed meme tokens—often inspired by real-world figures and events—tap into viral trends and community hype, which explains their outsized performance. Other notables include BERA in week 3, likely referring to tokens associated with the Berachain ecosystem, and PUMP in week 25, which could tie into platforms like pump.fun that specialize in quick meme token deployments.

The chart covers 35 weeks, with a total of 39 tokens launched, averaging about $27.4 billion per week when outliers are included. However, the distribution is skewed: early weeks in 2025 were explosive, while later ones tapered off, reflecting the cyclical nature of meme token mania. For blockchain practitioners, this data underscores the importance of timing—launching during high-market sentiment can amplify volumes exponentially.

The HIP-3 Shift: Outsourcing Listings and New Opportunities

Devens points out a potential game-changer: with the Hyperliquid Foundation (HF) possibly outsourcing all new listings after HIP-3, the landscape for token launches could open up dramatically. HIP-3, or Hyperliquid Improvement Proposal 3, is a governance update aimed at decentralizing the listing process, allowing third parties to handle integrations. This move could democratize access, reducing barriers for new meme tokens and creating a "massive market opportunity" as Devens puts it.

Imagine a world where anyone can propose and launch a token on Hyperliquid without centralized gatekeeping. For meme token creators, this means faster go-to-market strategies and potentially higher volumes if they catch the right wave. But it also introduces risks, like increased competition and the need for robust community building to stand out.

Implications for Meme Token Traders and Builders

If you're diving into meme tokens on platforms like Hyperliquid, these insights are gold. High-volume launches often signal strong initial interest, but sustainability depends on factors like utility, community engagement, and market conditions. Take XPL, mentioned in a reply to Devens' tweet—it clocked $1.6 billion in its first week, a whopping 7.3 times the median. That's the kind of multiplier that turns heads and portfolios.

For builders, outsourcing listings could mean partnering with specialized services or DAOs to get your token in front of traders. And for traders, keeping an eye on Hyperliquid's pipeline via tools like on-chain analytics or social signals on X can help spot the next big thing early.

As we head deeper into 2025, Hyperliquid's model shows how meme tokens aren't just jokes—they're serious business driving billions in economic activity. Stay tuned to Meme Insider for more breakdowns on the latest launches and trends in the meme token universe.