Meme coins have always been a particularly polarizing topic within the cryptocurrency community, especially throughout the last cycle.
Projects such as dogwifhat (WIF), political meme coins, and a bunch of others have elevated the field to the forefront of the industry and it appears that TRON is the latest destination for those wishing to indulge in the volatile category.
1,000 Meme Coins per Day Coming to TRON
On August 13th, Sun.io – a platform that’s linked to the founder of Tron, Justin Sun, announced the launch of SunPump.
SunPump is a protocol that, akin to PumpFun, allows users to create their very own meme coins in a matter of minutes without requiring any prior development knowledge.
And it’s been going wild.
Data shows that since its launch, there have been more than 1,000 memecoins created daily.
Since #SunPump launched, 4,844 #MEMEcoins have been created on #TronNetwork, bringing a revenue of 1.84M $TRX($246.6K). pic.twitter.com/R8n7wZHUiy
— Lookonchain (@lookonchain) August 18, 2024
The SunPump protocol has seen an absolute rally in terms of the generated revenue:
Is meme coin szn moving to $TRON?
Launched just a few days ago, @justinsuntron SunPump already raked in over $1.5m on August 17th. pic.twitter.com/f8IVoSFku6
— CryptoPotato Official (@Crypto_Potato) August 18, 2024
Why Meme Coins on TRON?
Justin Sun has been known to be able to capitalize on ongoing and developing trends in the cryptocurrency industry for years, so it’s definitely not a coincidence that SunPump is being heavily promoted, given the tremendous popularity of meme coins in the field.
He has been vocal about the merits of TRON compared to other networks, outlining:
For me, when it comes to the whole “Why TRON, why SunPumpMeme?” thing, the biggest flex is that $60 billion in TRON USDT. No other blockchain protocol’s got a liquidity pool this massive. Meme coin platforms live and die by liquidity, and TRON’s got it in spades.
Indeed, USDT on TRON far dominates that on other networks. For example, Solana, which is the dominant chain in terms of meme coin activity at the moment, only has about $1.9B of USDT circulating on it, as opposed to the $60B circulating on TRON.
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