SunPump, a new memecoin implementation on the Tron blockchain, has generated over $1.1 million in revenue in just 11 days since its launch.

The Justin Sun-backed platform has seen a total of 7 million TRX in sales, and SunPump’s biggest sales day to date was August 20, earning nearly 2.78 million TRX, or $400,000, with over 6,000 memecoins created.

SunPump has surpassed $1 million in revenue after 11 days of operation. Source: Dune

On August 20, Sun said SunPump went down after “seeing unprecedented traffic” and that developers were “working quickly to scale up” to restore service. The platform eventually came back online about an hour later.

Source: X

Liquidity has been pouring into the Tron blockchain since SunPump launched, with a little help from a $10 million allocation from Sun's Meme Ecosystem Boost Incentive Program.

Stablecoin issuer Tether also minted 1 billion more USDT tokens on the Tron blockchain on August 20.

Tron generated $3.84 million in revenue over the past 24 hours, up from $2.17 million the day before.

Source: DefiLlama

The debate over the value of memecoin continues.

Skeptics have questioned the value of memecoin to the crypto industry as Solana's memecoin trading volume has dropped and recent controversial data has shown that most traders on the Solana memecoin pump.fun platform are losing money.

More than 1.7 million tokens have been issued through pump.fun since its launch in January, of which less than 1.5% have reached a total value of more than $63,000.

Pump.fun has facilitated the launch of over 1.7 million memcoins since January. Source: Dune

Appchain Noble CEO Jelena Djuric said that although the memecoin season is underway, she remains skeptical about their longevity.

Messari data engineer Mike Kremer shared a similar sentiment, claiming that memecoins have “destructive momentum.” He explained that as the price of memecoins increases, many insiders will dump their tokens, leaving behind tokens with no real value or utility.

Meanwhile, Sun remains bullish on memecoin, claiming the token’s success is “no accident.”

“When every developer can build a community through a fair launch, gain people's support, and foster enthusiasm and loyalty, the community can share in the success of cryptocurrency.”

Constantin Kogan, co-founder of decentralized launchpad platform BullPerks, also believes that memecoins have an important role in cryptocurrency, calling it one of the “fastest growing sectors in the space.”

https://tapchibitcoin.io/sunpump-cua-justin-sun-dat-doanh-thu-11-trieu-do-la-sau-11-ngay-ra-mat.html