Drosera meristocaulis is known only from a few valleys on the northern side of Pico da Neblina. It has not yet been located on any other neighboring plateau of the Guiana Highlands, despite the presence of suitable habitat. According to the notes of the explorers who collected specimens, D. meristocaulis is locally frequent at altitudes from . It grows in open bogs savannas, in swamps with Heliamphora neblinae, and along streams with Euterpe. Specimens collected from near the summit of Pico da Neblina are often found with lichens growing on the dead leaves still attached to the stem.