SunPump Memecoin Frenzy Grips the Tron Community, TRX and SUN Ecosystem Get a Boost

The memecoin frenzy has reached the Tron Community after the launch of Pump.enjoyable's rival, SunPum. The brand new memecoin deployer has been making the headlines after surpassing its Solana-based counterpart on key metrics this week.

The memecoin craze has reached Tron after the launch of SUN.io’s Pump.enjoyable rival, known as SunPump. The brand new memecoin deployer has been making headlines after outperforming its Solana counterpart on key metrics this week.

The platform’s stellar performance over the past two weeks has been boosting the Tron ecosystem, TRX, and the SUN protocol. As a result, SUN, the native token of the DeFi protocol behind SunPump, has soared over 190% in the last seven days.

Related Reading: SunPump Takes The Market By Storm

Tron’s Memecoin Deployer Surpasses Solana’s Pump.enjoyable

Almost two weeks ago, DeFi protocol SUN.io launched SunPump, a Tron-based memecoin launcher to rival Solana’s Pump.enjoyable. The project, which has been heavily promoted by Tron’s founder Justin Sun, became the first memecoin deployer in the blockchain.

Described as a “convenient and efficient token issuance solution,” the deployer gained massive popularity last week. The crypto community was initially skeptical about the project, with some claiming that it could mark “the end of the memecoin era.”

However, its recent performance has breathed new life into the Tron network, boosting activity significantly. Data from Dune Analytics shows that SunPump has deployed over 33,330 memecoins since its creation, generating over 13.1 million TRX, or about $2 million, in revenue.

On Wednesday, the platform hit an all-time high (ATH) on key metrics, outperforming its Solana counterpart in both tokens issued and daily fees. SunPump earned $585,000 in revenue that day from deploying 7,531 tokens, while Pump.enjoyable launched 6,701 and generated $366,000 in fees.

Tron-Based Tokens See Massive Surges

Some traders have been cashing in on the new memecoin mania with some of the hottest tokens launching in the blockchain. Last week, two animal-themed tokens saw surges of over 50,000% and 25,000% after launching.

At the time, SUNDOG reached a market capitalization of $60 million, which enabled it to get listed 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 this writing, SUNDOG is trading at $0.1918, a 260% price increase in the last seven days. Notably, SUN, the native token of SUN.io, is one of the biggest gainers of the week, with a 197% surge fueled by the network’s momentum.

SUN was first launched in 2021 and reached an ATH of $66 before crashing due to supply hyperinflation. Since then, the token has been redenominated as a multifunctional governance token on the SUN platform.

Last week, SunPump 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.”

Moreover, Binance Futures announced on Thursday the launch of the SUNUSDT Perpetual Contract with up to 75x leverage. This week, the bullish push has led SUN’s price to break out of a multi-year consolidation range.

After trading sideways within the $0.003-$0.01 price range for the past four years, SUN breached 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. As of this writing, SUN is trading at $0.031 with a market capitalization of $301 million.

Featured Image from Unsplash.com, Chart from TradingView.com

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