Santiment analysts have drawn attention to the growth of TRX and the new narrative with meme coins on Tron.
Both are related to the August 12 launch of the#SunPumpplatform - on Justin Sun's Tron blockchain. It is designed to create and trade meme coins. It allows users to quickly and easily create their own meme coins without the need for technical knowledge or development. Sun, in fact, did not create anything new. The idea is essentially borrowed from the Pump․Fun project and other earlier projects. And as#Decryptwrites, SunPump today overtook Pump․Fun in the number of meme coins created in the last day (7352 versus 5694).
Justin Sun has already voiced his expectations for the project, +1 billion $ of TRON profit within 12 months:
"Conservatively, TRON's total revenue could reach $3 billion over the next 12 months, with $1 billion burned and $2 billion given out as staker rewards and transaction subsidies. If the meme strategy is successful, it could reach $4 billion."
The number of TRX discussions on social media is at its highest since 2021. The market value of#TRXhas increased by +22%.
A few more figures on the project:
- The launch of SunPump resulted in a 124% increase in transactions on the Tron blockchain.
- As a result of SunPump activity, Tron currently earns around 1.84 million TRX daily, which is equivalent to approximately $246,000.
In short, nothing new - there is not enough liquidity for all altcoins for the altseason, so interest in the market is supported by specific hype topics. Whether to get into meme coins on Tron - everyone will decide for themselves. But for the inexperienced, the risks there are much higher than the potential benefit.
The#TRXrate itself, by the way, showed a reversal signal on the daily chart yesterday, we can expect a correction. The signal will break only if the hype continues to grow, for this we need more bright news items and more Fomo stories from the category "invested $100 and got $100,000."
