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SunPump, a new memecoin distributor on the Tron blockchain, has achieved a significant success by generating over $1.1 million in revenue just 11 days after its launch. The platform, hosted by Justin Sun, has seen significant activity with over 18,000 tokens created since its launch on August 9.
SunPump generated a total revenue of 7 million Tron (TRX) tokens, equivalent to 1.1 million. Its most profitable day was August 20, when over 6,000 memecoins were created on that day alone, generating approximately 2.78 million TRX, or $400,000. On August 20, SunPump experienced a brief outage due to unprecedented traffic. Justin Sun quickly addressed the issue, and scaling was back online an hour later to meet the increased demand on the platform.
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SunPump Cathes the Memecoin Hype
The launch of SunPump has significantly contributed to the liquidity process on the Tron blockchain. This growth was further supported by a distribution of 10 million from Sun’s Meme Ecosystem Growth Incentive Program and the minting of 1 billion USDT tokens on Tron by Tether on August 20. According to the defiLlamation systems, Tron’s revenue reached 2.17 million in the last 24 hours, compared to $1.06 million the previous day, with two separate frees.
SunPump Memecoin Catches the Hype Despite the financial success of platforms like SunPump, the value and sustainability of memecoins continues to be a topic of debate within the crypto community. Critics argue that memecoins often lack intrinsic value or utility, with many experiencing significant price inflation as insiders sell their holdings, followed by sharp declines. For example, it was reported that the trading volume of the Solana-based memecoin has decreased and most investors on the pompa.fun platform have lost money.
However, Justin Sun remains optimistic about the future of memecoins, emphasizing the potential to build strong segments through fair launches. It has been seen that enthusiasm and loyalty within these communities can contribute to the long-term development of memecoins.
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