In August 2024, after a significant pullback in the Bitcoin and Ethereum markets, the entire market entered a relatively calm consolidation phase.
Just when the market needed fresh excitement, TRON emerged like a dark horse, making a powerful entrance into the memecoin space, reigniting market enthusiasm. Memecoins once again became the focal point, especially with TRON-based SUNDOG, which saw its price soar a thousandfold in just a few days, drawing widespread attention.
To help users seize investment opportunities, MEXC has listed SUNDOG, offering the lowest trading fees in the industry!
On August 13, SUN.io, a well-known DeFi platform on the TRON blockchain, launched the beta version of SunPump. It is TRON's first platform for the fair launch of memecoins, providing a decentralized, transparent, and fair mechanism for memecoin issuance. Its innovation lies in its fair launch mechanism, which uses smart contracts and on-chain verification to ensure that all users can equally participate in early-stage investments.
One-click Token Creation: Users can quickly create their own memecoins by entering a token name, symbol, uploading an image, and paying a small fee.
Bonding Curve Mechanism: The platform uses a bonded curve pricing model to dynamically adjust prices based on token supply, ensuring fair and transparent pricing.
Instant Market Access: Newly created tokens are immediately listed on the SunPump platform, allowing seamless buying and selling.
Liquidity Injection and Token Burn: When a token's market value reaches certain conditions, SunPump injects liquidity into SunSwap and burns tokens to regulate market circulation.
Trading Transparency: All transactions on SunPump are public, and users can view transaction history and activity.
On August 16, SunPump experienced a historic moment with the launch of SUNDOG, whose market cap quickly soared to over $40 million. By August 19, SUNDOG's market cap had surpassed $100 million. Meanwhile, the memecoin craze on the SunPump platform continued to grow, with over 7,000 different memecoin projects emerging, generating a total income of 2.5 million TRX.
SunPump has directly targeted Pump.fun, a platform within the Solana ecosystem.
Since its launch in February 2024, Pump.fun has swept the market at an astonishing pace. By mid-March, its user base and activity had skyrocketed, and within just six months, it achieved the remarkable feat of surpassing Ethereum in daily revenue on multiple occasions.
As Pump.fun seemed poised to take off, SunPump quietly gathered momentum. Personally launched by Justin Sun, SunPump has shown unstoppable growth since its inception, spreading its influence rapidly throughout the crypto space.
On its launch day, Justin Sun actively promoted the memecoin fever created by SunPump and organized gas subsidy events. He capitalized on the launch of the "Black Myth: Wukong" videogame, successfully tying SunPump to the hype by offering games and Wukong-themed profile pictures, boosting the popularity of various Wukong concept tokens. Notably, SUNDOG, a memecoin issued on SunPump, caused a market frenzy upon its release, with its price soaring a thousandfold, making it the center of attention in the industry.
The competition between SunPump and Pump.fun has now become a major focal point within the Solana ecosystem and the broader cryptocurrency market. The rivalry between the two not only tests their technical capabilities and operational strengths but will also profoundly influence the future landscape and development trends of the memecoin market.
After SUNDOG, other well-performing memecoins have also emerged on SunPump, such as Fofar, SUNCAT, and SUNWUKONG. These tokens have quickly formed a strong presence in the industry. MEXC has listed SUNCAT, SUNWUKONG, and other tokens, and to reduce user costs, the platform offers the lowest trading fees and withdrawal fees in the industry.
Fofar
Fofar is not just a character; it symbolizes innovation, celebrating creativity, blockchain technology, and unbreakable bonds of friendship.
SUNCAT
SUNCAT is another popular meme project on SunPump with a market cap exceeding $10 million. It has gained widespread recognition for its unique community governance mechanism and innovative features.
SUNWUKONG
SUNWUKONG is yet another star project on SunPump. Its distinctive cultural background and rich application scenarios have drawn the attention and participation of many users.
As a sub-product of SUN.io, one of the key factors behind SunPump's success is the strong ecosystem support from TRON.
TRON, ranking high in protocol revenue, has performed impressively. According to Messari data, TRON's on-chain activity (transactions, active addresses, new addresses, etc.) has continued to increase in the second quarter, with an average daily transaction volume growing 29% quarter-over-quarter, from 4.8 million to 6.3 million. June had the highest transaction volume of 2024, with over 202.6 million transactions. Additionally, average daily active addresses grew 31%, from 1.5 million to 2 million.
TRON's robust development has provided the perfect foundation for SunPump's explosive growth. TRON has supported its ecosystem with initiatives like a gas fee reduction of up to 99% upon SunPump's launch. Now, SunPump transactions on the TRON network have a transaction fee of just 0.76 TRX per transaction, with an average cost of $0.118 per transaction.
TRON's founder, Justin Sun, has also injected tremendous energy into SunPump's rise. As a powerful “traffic engine,” Sun has vigorously promoted SunPump and TRON across social media, X Spaces, and community channels, even personally participating in meme-related discussions. Simultaneously, he listens to user feedback and pushes the SunPump team to enhance the platform. Under Sun's leadership, SunPump is more likely to produce meme projects that are not only viral but also marketable, gaining significant industry attention.
However, the rise of memecoins often comes with controversy. Their extreme price volatility and seemingly lack of intrinsic value lead some to view them as fleeting trends or market bubbles, with critics arguing that they disrupt normal market order. Yet, this undeniable force continues to attract the attention of numerous investors.
As meme culture continues to flourish, MEXC will keep demonstrating its keen market insight, rapidly listing popular tokens to ensure users can seize the latest and hottest investment opportunities. At the same time, the platform is committed to offering competitive spot trading fees in the industry, helping users save costs and enhancing their trading experience.
Disclaimer: This information does not provide advice on investment, taxation, legal, financial, accounting, consultation, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.