Despite the crypto market slump, the craze for trading cat and dog meme doesn’t seem to have cooled down – it’s just moving to new blockchains.
Sundog (SUNDOG), TRON 's flagship meme coin, has quickly gained success since its launch on August 15, making waves on Crypto Twitter as the first meme coin to make a splash on the network.
At press time, Sundog’s market Capital has skyrocketed to $132 million, after peaking at $325 million. In a recent purchase, a whale invested $450,000 in Sundog, causing the coin’s price to surge.
Last week, TRON founder Justin Sun introduced SunPump, a Token generation platform that bills itself as “the first fair meme launch platform.” The network is positioned as a direct competitor to Solana’s Pump.Fun , as the name suggests.
Sundog's rapid rise has reminded many of Dogwifhat (WIF), a prominent meme coin on Solana , thanks to the Token 's meteoric rise to fame and meme like nature.
Liquidation is pouring into TRON’s blockchain, but will the meme coin craze last? One reason developers are optimistic is that Justin Sun has allocated $10 million to the platform through the Meme Ecosystem Support Program, which aims to support emerging coins and prevent scams that could leave traders stuck with worthless, liquidation Token .
The development team tweeted that the program is “dedicated to Token launched on SunPump, designed to fuel projects with the resources and support needed to reach new heights.” The team also promotes SunPump as a platform with “no scams and no allocations to the development team.”
TRON is currently surpassing other chain in terms of revenue, reaching $1.06 million in the past 24 hours according to data from defillama. According to Dune Analytics, more than 11,000 Token have been created on the SunPump platform. SunPump also just announced integration with DEX Screener.
Can TRON surpass ETH and SOL in the long term? This is unlikely at the moment, but TRON is quickly establishing itself in the meme coin ecosystem. The sustainability of the platform will depend on time, community acceptance, and whether users continue to launch coins on SunPump.
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Lu Buwei
According to Decrypt
