Sundoge is dominating meme coin activity on Tron. Now, trackers show that over 50% of all activity on SunPump is tied to the token.
There is a shift in progress.
In the second half of 2023, Solana dominated headlines. This was mostly due to the fast-rising SOL prices driven by the explosion of meme coin activity.
Traders and developers choose Solana for low fees and high scalability.
The Magic Of Pump.fun On Solana
People forget that Solana was a choice platform primarily because of Pump.fun.
Pump.fun allowed anyone to create a meme coin anytime and anywhere.
The cool thing is that they could also seed liquidity. For at least $69,000 in market cap, these meme coins can list on Raydium.
Reading from the success of Pump.fun, it is no surprise that Tron copied the same model, and the results–astounding.
SunPump Drives Tron
Not only is TRX, the native currency of the Tron network, soaring, registering fresh 2024 highs, but on-chain activity is exploding.
(TRXUSDT)
The release of SunPump, a meme coin launchpad, has been a game-changer.
After deploying on August 13, less than a month ago, the platform is behind the expansion and acceleration of meme coin activity on the otherwise stablecoin-dominated Tron.
SunPump is popular because it is easy to use and, like Pump.fun, anyone can create a meme coin.
Sundoge Is King Meme Coin on Tron: Here’s Why
Recent data shows that though users have been racing to deploy their meme coins, Sundoge is quickly becoming the undisputed king.
Trackers reveal that Sundoge commands over 50% of all SunPump transactions.
(Source)
Though thousands of meme coins have been launched on SunPump, only 41 projects have a market cap exceeding $1 million.
Sundoge is an indisputable leader, judging by market cap and activity.
As of August 30, 51% of all SunPump activity was tied to Sundoge.
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The Scramble For Meme Coin Chain Dominance
While meme coin activity booms on Tron and SunPump, the community is voting, eager for their favorite meme coin to list on HTX.
🥳Voting is now open!
Vote for Meme Coin on #SunPump to Help It Get Listed on HTX🚀All users holding $veSUN are eligible to participate in the voting for #meme coins on SunPump to help them get listed on #HTX. At the end of the voting period, the meme coin with the most votes… pic.twitter.com/fd2NfSboci
— SunPump (@sunpumpmeme) September 2, 2024
Voting ends tomorrow, September 5.
Only veSUN token holders, native to the SunPump platform, can vote.
Any meme coin project that receives at least 4 million veSUN votes will be listed on HTX.
Firing The Furnace: Justin Sun At The Helm
Beyond voting, SunPump, inspired by Pepe and other top meme coins, recently implemented a token-burning scheme.
The goal is to boost the “token liquidity depth” while offering additional “regulatory” advantages.
Regarding the issue of revenue buyback and burning for @sunpumpmeme , the community previously suggested burning liquidity LP tokens because this approach is used by mainstream meme tokens like SHIB.
Burning LP tokens has several advantages, including increasing token liquidity…
— H.E. Justin Sun🌞孙宇晨(hiring) (@justinsuntron) September 3, 2024
To prevent complexities, Justin Sun, the brains behind SunPump, believes a 100% on-chain buyback approach would be ideal, especially considering the need for complete transparency.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
