Tron's SunPump craze has led to a decline in Solana's meme coins, with Tron’s newly launched SunPump gaining significant traction. Within just 11 days, the meme coin deployer on the Tron blockchain has generated over $1.1 million in revenue, indicating a shift in market dynamics.
While Solana-based meme coins like DogWifHat (WIF) and Bonk struggle to maintain their positions, new players on the Tron blockchain, such as SunDog (SUNDOG) and SUN Token (SUN), are making significant progress. Over the past week, Tron’s price has surged by 25%, largely fueled by the rising popularity of these meme tokens.
Data from Coingecko shows a stark contrast in performance between Solana and Tron-based meme coins. Solana’s WIF has seen a significant decline, with its price dropping 42% over the past month and another 7% in the last week. Despite these setbacks, WIF remains the fourth-largest meme cryptocurrency, with a market cap of $1.5 billion. Similarly, Bonk (BONK) has experienced a downward trend, with its price decreasing by 40% in the past month and 7% in the last week. BONK is currently trading at an average price of $0.00001822.
On the other hand, Tron’s SUNDOG has shown impressive growth, with its price soaring by 285% in the last 24 hours, reaching an average price of $0.251. SUNDOG’s market cap is now $252 million, with a 24-hour trading volume of $65 million, marking a 20% increase. Another Tron meme token, SUN, has also seen significant gains, with a 67% increase over the past week and a 418% surge in trading volume over the last 24 hours, reaching $239 million.
SunPump, launched on August 9, has quickly become a significant market player, generating 7 million TRX, equivalent to approximately $1.1 million, in just 11 days. On August 20, SunPump recorded its most profitable day, bringing in nearly 2.78 million TRX, worth around $400,000, with over 19,000 new coins created on the platform.
