Tron just launched SunPump, a platform similar to Solana's Pump.fun, where anyone can create and launch memecoins.
SunDog, Tron's first memecoin, saw explosive growth, with its market cap reaching $325 million.
Despite ongoing declines in other blockchains, Tron's memecoin scene is booming.
SunPump aims to be fair and is designed to avoid the rug pulls common in memecoin launches.
Tron's DeFi activity is now beating Solana's, likely due to the popularity of SunPump.
The core aspect of memecoins is that they grow and evolve quickly.
We have seen something happen very recently that aligns with this, considering Tron's latest foray into the world of memes.
Sometime this week, Justin Sun, the founder of the Tron foundation, launched SunPump, a platform that allows anyone to create and launch a memecoin at the click of a few buttons—similar in many ways to Solana's Pump.fun.
So far, while the memecoins in other blockchains are seeing declines, Tron’s SunPump is rapidly gaining traction, with a new Tronp-based DogWifHat leading the charge.
Here’s everything to know about Sundog (SUNDOG), its explosive growth in the last week, and why you’re still early to the party.
Sundog launched on 15 August as one of Tron's first memecoins and has been flying high ever since.
In less than a few days, the token quickly became the talk of crypto Twitter, as its market cap peaked at an impressive $325 million before stabilizing at around $126 million.
So far, the whales have been jumping on the train, with one of them even throwing a staggering $450,000 into the pot.
According to CoinMarketCap, the memecoin has shot up by nearly 100% in the 24 hours before writing and now has a market cap of $167 million plus a daily trading volume of $54 million.
Sundog soaring strongly
The memecoin has climbed up the ranks to become the 243rd largest cryptocurrency on the market and is up by 289.12% since its launch last week.
So far, SunDog has also overtaken the new Dogecoin sister memecoin, "Neiro on Ethereum", with more than $4 million in market cap.
This has caused several comparisons with Solana’s DogWifHat memecoin, with one Twitter user commenting, "History doesn't repeat itself, but it usually rhymes."
This rapid ascent of Sundog comes with that of SunPump, which is the Tron network’s answer to the endless scams and rug pulls on Solana’s Pump.fun.
The platform is marketed as the “first meme fair launch platform,” and is designed to support meme coins and other tokens in a “fair and transparent manner”.
Furthermore, it is also geared towards avoiding the major problems of Pump.fun, which has been a major issue in the memecoin space.
So far, Tron is already outperforming most other blockchains on the market, likely due to the popularity of SunPump.
DefiLlama data shows that aside from Ethereum, Tron is now beating Solana in 24-hour revenue.
Tron outperforming Solana
Data from Dune analytics also shows that, at the time of writing, around 12,402 tokens have already been deployed on Sun.pump.
Overall, this influx of liquidity onto the Tron network and the popularity of SunPump make the blockchain the perfect environment for another memecoin boom.
Moreover, the memecoin craze is far from over.
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