Justin Sun, the founder of TRON, launched a meme coin platform called Sun Pump in August 2024. It once surpassed its competitor Pump.fun, but now its token issuance and revenue have both plummeted by over 90%, far underperforming the market's expectations.
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TogglePump.fun Dominates the Market, Sun Pump Lacks Attention
Going back to last August, the MEME coin platform Pump Fun on the Solana blockchain sparked a frenzy, while the TRON and Binance Smart Chain (BSC) both launched Four MEME and Sun Pump to compete with it.
At the time, Sun Pump initially achieved higher revenue and token issuance than Pump Fun after its launch. However, this enthusiasm did not last long.
Dune data shows that Sun Pump only issued 4 tokens on January 31 and February 7, 2025, a 99.9% drop from the over 7,500 tokens issued on August 21, 2024.
Meanwhile, the competitor Pump Fun issued over 60,000 and 50,000 tokens on those two days, a stark contrast.
Revenue Plummets Sharply, Widening Gap with Competitors
Not only has the issuance volume decreased significantly, but Sun Pump's revenue has also plummeted. On January 24, Sun Pump generated less than $500 in revenue, while Pump Fun's daily revenue exceeded $15.88 million, a 99.9% drop from the $588,000 peak in August 2024.
Since the platform's launch, Sun Pump's total revenue has reached $5.69 million, but in comparison, Pump Fun has accumulated over $500 million in revenue. Particularly on February 4, Sun Pump only earned $72 in revenue.
The data indicates that since the launch of the two platforms, Sun Pump has issued a total of around 95,000 tokens, while Pump Fun has cumulatively issued over 7.57 million, a vast difference.
Sun Pump Offers Incentive Programs, But Are They Useful?
To increase the platform's influence and attract more users, Sun Pump launched an incentive program last month targeting influential community members and KOLs, aiming to promote the development of the TRON ecosystem.
The program requires users to post at least three tweets about the TRON ecosystem and achieve over 10,000 impressions to receive rewards in tiers. Other requirements include issuing tokens through Sun Pump and maintaining a certain market capitalization for a certain period.
However, despite Sun Pump's attempts to regain its market position through incentive mechanisms, the platform seems to be in decline, facing the pressure from Pump Fun and other competitors.
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