SunPump Takes The Market By Storm As The Memecoin Frenzy Reaches The Tron Network
- 王林Original
- 2024-08-24 09:19:11386browse
The memecoin frenzy has reached the Tron Network after the launch of Pump.fun's rival, SunPum. The new memecoin deployer has been making the headlines
The launch of SunPump, a Tron-based memecoin deployer, has created a buzz in the crypto community. The platform, which rivals Solana's Pump.fun, has quickly become the leading memecoin deployer in the blockchain.
According to Dune Analytics data, SunPump has seen a remarkable surge in activity since its creation. The platform has deployed over 33,330 memecoins, generating over 13.1 million TRX, valued at around $2 million, in revenue.
On Wednesday, SunPump reached an all-time high (ATH) on key metrics, surpassing its Solana counterpart in both issued tokens and daily fees.
Data shows that SunPump made $585,000 in revenue on Wednesday from creating 7,531 tokens, while Pump.fun launched 6,701 and generated $366,000 in fees.
The memecoin deployer has attracted a large following among investors, who are capitalizing on the new memecoin frenzy. Some of the most popular tokens launched on the platform have seen astronomical price increases.
Last week, two animal-themed tokens, SUNDOG and SUNRABBIT, saw increases of over 50,000% and 25,000%, respectively, after launching.
At the time, SUNDOG had a market capitalization of $60 million, which led to its listing on crypto exchanges Poloniex and HTX. Since then, the dog-themed token has reached a market cap of $322 million, currently at $190 million.
As of Friday morning, SUNDOG is trading at $0.1918, showing a 260% price increase in the last seven days.
Meanwhile, SUN, the native token of the DeFi protocol behind SunPump, SUN.io, is also emerging as one of the biggest winners of the week, with a 197% surge largely driven by the network’s momentum.
According to CoinGecko data, SUN has soared over 190% in the last seven days, making it one of the top-performing cryptocurrencies in the past week.
SUN was originally launched in 2021 and reached an ATH of $66 before crashing due to supply hyperinflation. However, the token has since been redenominated as a multifunctional governance token on the SUN platform.
Interestingly, SunPump has announced that 100% of the protocol’s revenue will be used to buy back and burn SUN tokens to “support the sustainable development of the SUN ecosystem.”
In another development, Binance Futures announced on Thursday the launch of the SUNUSDT Perpetual Contract with up to 75x leverage, catering to traders seeking exposure to SUN's price movements.
This week, the bullish push has seen SUN’s price break out of a multi-year consolidation range. After moving sideways within the $0.003-$0.01 price range for the past four years, SUN finally broke above the $0.15 resistance level on Tuesday.
Since then, the token has continued its bullish rally with a 30.4% increase in the last 24 hours. At the time of writing, SUN is trading at $0.031 with a market capitalization of $301 million.
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