Solana's 7-day active addresses exceeded 31 million, up 38% year-on-year, ranking first among public chains. The market cap of the Memecoin CZ briefly surged to $80 million, a 380-fold increase in 24 hours. The data is impressive, but behind it lies structural fragility: activity is highly dependent on Memecoin speculation. The CZ-themed coin has experienced extreme volatility before, and CZ himself has repeatedly clarified that he does not endorse it. When liquidity is concentrated in short-term speculation, on-chain activity may quickly decline once sentiment wanes. Solana needs more sustainable use cases to support its valuation.