With meme coins down on every other chain, Justin Sun has launched SunPump for Tron, and the PumpFun clone has been a huge success thus far.
Justin Sun’s Tron network now has a flagship meme coin, Sundog (SUNDOG). It was launched on August 15 and has been making waves ever since. Its current market cap is between $120 and $150 million.
Whales Already Dumping 6-Figures Into Sundog
Yesterday evening (August 19), a whale bought $454,000 worth of SUNDOG. That one buy temporarily shot the market cap from $100 million to over $300 million before people taking profits brought it back down to its current levels.
It has processed over $10 million in volume in the past 24 hours and has over 11,000 holders at the time of writing.
SOMEONE BOUGHT $450k WORTH OF $SUNDOG
WE ARE GOING SO MUCH HIGHER
DONT FADE FIRST MOVERS
JUSTIN SUN WILL TAKE US TO VALHAL pic.twitter.com/S6Pvdl392x
— shah (@shahh) August 19, 2024
This meme coin frenzy on Tron comes after Tron creator Justin Sun introduced SunPump, a token generator branding itself as the “first meme fair launch platform.” He launched SunPump last week with the intention of it becoming a direct competitor to Solana’s PumpFun.
RELATED: Justin Sun Sends The Internet Wild With ‘China Unbans Crypto’ Tweet
Will Justin Sun Pump Sundog To Be Tron’s WIF?
Sundog is like Wif
Sun cat is like Popcat— Drake on Digital (@drakeondigital) August 20, 2024
Many compare Sundog’s insane rise to Dogwifhat’s (WIF) early days. In December 2023, WIF went on a crazy run, rising from a market cap of $10 million to over $275 million in less than one week.
It has gone from strength to strength since then, and even with meme coins struggling right now, it is still sitting above $1.5 billion in market cap.
Now, liquidity is quickly flowing from Solana and PumpFun to Tron and SunPump, with Sundog taking sucking up most of that liquidity.
$10 Million Meme Ecosystem Incentive Program On Tron To Entice Even More On-Chain Degens Over To Tron
Sun seems committed to ensuring that SunPump isn’t a flash in the plan and can make Tron a viable option for trading meme coins. He personally allocated $10 million to the platform through its Meme Ecosystem Boost Incentive Program.
The plan is to help support new, legitimate projects while helping investors avoid rug pulls that regularly leave them with worthless tokens.
In its announcement of the $10 million incentive program, the team stated that it is “exclusively for tokens launched on SunPump, designed to supercharge projects with resources and support to reach new heights.”
Data Is Backing Up Social Media’s Bullish Sentiment For The Tron Ecosystem
Data from the analytics platform DefiLlama proves that the Tron network is truly on the rise. It is normally situated outside of the top 10 chains when sorted by on-chain volume.
Right now, it is sitting at number 6, with a 204% increase over the past 7 days. Most chains are struggling right now, with Solana the only other network in the green (82% weekly increase in volume).
BONUS: PlayDoge (PLAY) Enters Its Final Week Of Presale, Over $6 Million Raised So Far
The team will end the presale in just a week, on August 10th at 10 am UTC. Now is the last chance to buy PLAY at presale prices, currently available for $0.0053 each per token.
Investors can buy using ETH, USDT, BNB, or even a credit/debit card. Once the presale ends, purchased tokens can be claimed using the same wallet used to buy them.
If you buy now, you can begin staking your PLAY tokens right away. PlayDoge’s staking protocol offers returns of 75%, and bullish investors have already locked up almost 250 million PLAY.
The PlayDoge team plans to list PLAY on multiple decentralized exchanges once the presale is over, and there are rumors that a big centralized exchange listing is also on the way.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
