TRON’s SunPump Memecoins Makes Tremendous Profits
The memecoin ecosystem seems to be getting crowded and it is not too often that a new project is able to shake up top players in 2024. However, SunPump has managed to do just that. SunPump is a memecoin platform on the TRON blockchain that launched on August 9, 2024.
The launch of SunPump marks a significant step for TRON, which, even though it has been a top 20 crypto for years, hasn’t been able to build applications on it. However, in a turnaround, Justin Sun’s TRON network has seen a surge in activity and revenue, with TRON generating a record $3.48 million in revenue in just 24 hours.
SunPump has also been a revenue-generating machine, as it generated over $1.5 million in just 12 days of its launch. SunPump has contributed to the overall expansion of the TRON ecosystem by attracting more stakers, thereby increasing liquidity and network activity.
What is SunPump?
SunPump is TRON’s first dedicated memecoin launchpad which was created with a specific function of launching and trading memecoins on the network. Its bonding curve mechanism ensures continuous liquidity for tokens created on the platform. For example, when a project reaches 100% of its bonding curve, valued at $69,420, the platform’s smart contract automatically deposits 100,000 TRX and 200 million tokens into the SunSwap V2 liquidity pool. This mechanism helps to stabilize token prices and reduce the volatility that often plagues memecoin markets.
When it comes to the costs of creating on the blockchain, TRON has been popular for its cheap rates, and it shows on SunPump, too. SunPump charges a modest creation fee of 20 TRX (approximately $2.60) and imposes a 1% trading fee. One of the major contributors to the platform’s success is its partnership with Poloniex exchange, which allows tokens to maintain a $1 million daily trading volume.
Solana’s Pump.fun vs. SunPump
One can say that SunPump’s rise has come at the expense of Solana’s pump.fun. Notably, Pump.fun has seen a decline in activity on the platform, with its daily launches dropping by 47% from an average of 15,217 between August 5 and 11 to just 8,003 by the week ending August 25. On August 25, the platform saw the launch of less than 6,000 tokens, its lowest number since the 1st Quarter of this year.
This decline can be seen as a saturation and fatigue of the Solana memecoin ecosystem and a need for a major competitor; an ideal place for SunPump to be in. SunPump has seen explosive growth, with 7,351 new tokens launched and $585,000 in revenue generated in a single day.
Top Memecoins on SunPump
Since its launch, SunPump has been averaging over 1,000 new token launches daily. The space is new and provides an opportunity for early investors and users.
One of the most notable successes is SunWukong (SUNWUKONG). This token, inspired by the popular Chinese video game Black Myth: Wukong, saw an early investor turn a $1,000 investment into $400,000 within a short period.
Another major success story on SunPump is SunDog (SUNDOG). This token achieved a market cap of $270 million shortly after its launch. One trader’s initial investment of $1,690 in SUNDOG grew to over $20 million in just six days.
There are other memecoins on SunPump that can potentially skyrocket too. SUNCAT and SUNPEPE have also crossed 2 million in daily volume.
$SUNCAT and #SUNPEPE are set to skyrocket, with daily volume exceeding 2M.
These dips are for buying only, i still believe #Tron memes are going to dominate the market.@justinsuntron let’s pump our bags harder-to the sun🚀🚀☀️ pic.twitter.com/p5VmWQ8QYX
— Kucoin Gem💎 Signals (@Kucoin_Gems) August 28, 2024
Not only has SunPump’s rise provided the TRON ecosystem a much needed boost, but also it has made the crypto ecosystem healthier by providing a competitor in the memecoin space. It’s not all bad news for Solana, though. As Ran Neuner noted, this shift can provide Solana investors an opportunity to accumulate SOL while the market’s attention is locked at SunPump.
Also Read: Telegram Game X Empire Prepares For Airdrops Post 20M Users
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