As a researcher with years of experience studying blockchain technology and its various applications, I must admit that the memecoin phenomenon has been one of the most intriguing developments in the crypto space this year. The introduction of platforms like Solana’s Pump.fun and now Justin Sun’s SunPump on the Tron Blockchain is a testament to the power of community-driven innovation.
During this recent surge in cryptocurrency prices, meme coins have been a major topic of discussion. It’s Solana-based meme coins that have sparked the most excitement among investors. This popularity has resulted in the development of platforms designed to create these tokens easily. Following the success of Pump.fun on the Solana network, Justin Sun launched the first memecoin platform on the Tron Blockchain.
Justin Sun Introduces Tron-Based Memecoin Launcher
Since its establishment in January 2024, Pump.fun – Solana’s launchpad – has garnered attention due to the memecoin craze. This platform was designed with a focus on “avoiding rug pulls” and ensuring the safety of all tokens minted on it. Additionally, it offers the community an opportunity to introduce tokens into circulation for less than $2 without any presale or team token allocation.
As someone who has been involved in the crypto world for a few years now, I can confidently say that the memecoin launcher has revolutionized the way people, especially influencers and celebrities, enter the crypto space. Having personally witnessed the high costs and complexity associated with launching a project, it’s refreshing to see a platform that simplifies the process and makes it accessible to everyone. This tool has not only made it easier for influencers to kickstart their crypto journey but also democratized the creation of tokens, allowing more people to participate in this exciting digital economy.
Despite facing heavy criticism for enabling pump-and-dump strategies, Pump.fun’s user base has noticeably dwindled. In fact, within the past few weeks, the platform has seen a steep decline in popularity, with a drop of more than 84% in the number of newly created accounts.
Amid the criticism, Defi protocol SUN.io introduced a Tron-based competitor to rival Pump.fun. Earlier this week, Justin Sun announced the Beta version of SunPump, the first memecoin launcher in the Tron Blockchain.
SunPump serves as a launching platform, striving to offer a seamless and hassle-free experience for traders dealing with memes within the Tron network. As stated in the announcement, this platform also provides creators with an effortless and budget-friendly option for token issuance.
As a participant in the analytics field, I’m excited to share that memecoin creators like myself have a chance to be part of the “888 TRX” Airdrop Event. This intriguing initiative promises an 888 TRX airdrop for all those whose Bonding Curve successfully hits the 100% mark.
Today, it was revealed that the platform is introducing a $10 million program called the Meme Ecosystem Boost Incentive, in collaboration with Tron DAO. This unique initiative, open only for tokens launched through SunPump, aims to fuel projects with necessary resources and backing, helping them scale new peaks.
As a crypto investor, I’m thrilled to share that today, the transaction fees on our launchpad have been slashed yet again by an impressive 90%. This reduction brings the fee down to just 0.352 TRX, which equates to approximately $0.04576 per transaction. This move undeniably makes our platform more accessible and appealing for everyone involved in the crypto space.
To conclude, it was found that all earnings from the project would be allocated towards purchasing and destroying SUN tokens, a move aimed at fostering the long-term growth and sustainability of the SUN ecosystem.
SunPump Faces Backlash
A variety of local residents exhibited a blend of sentiments regarding the announcement. While some believe that Sun has missed the boat on the memecoin trend, others view the initiative as marking the twilight of the memecoin phase.
Critics pointed out that the launchpad resembled its Solana equivalent and accused Sun of lacking originality. Furthermore, users suggested that Sun was primarily advertising the platform, implying that he endorsed a Tron-based memecoin due to insufficient user base, as it would not generate enough profit for them.
In addition to some community members’ observations, it appeared that the project was primarily focused on earning from charges following the revelation of Pump.fun’s income. As Bitcoinist recently disclosed, the Solana launchpad has outperformed blockchains such as Ethereum and Tron in terms of fee generation, generating more than $5.3 million.
Contrary to some negative feedback, it appears that two tokens, SUNDOG and SUNCAT, recently introduced in SunPump, have unexpectedly soared over the $1 million market cap. As per online reports, these animal-themed memecoins experienced a staggering increase of 50,000% for SUNDOG and 25,000% for SUNCAT just hours after their launch.
On Thursday evening, the cryptocurrency based on dog-themed Tron, known as Tron memecoin, achieved a market capitalization of $33 million, allowing it to be featured on crypto trading platforms Poloniex and HTX. As per CoinGecko’s data, the market capitalization of SUNDOG soared to $60 million by Friday morning before settling at its current level of approximately $57 million.
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2024-08-17 16:12