Tron-based memecoin projects have become the latest craze in the crypto market, promoted by controversial industry figure Justin Sun. The Tron blockchain network has just joined the memecoin craze with the launch of SunPump, a platform created to challenge Solana’s dominance. In the process, WUKONG has surged by nearly 1,300% in the last 24 hours, joining the list of Tron memecoin projects that have gone parabolic following Sundog’s rally.
What’s Happening in the Tron Ecosystem?
Justin Sun Unlike other memecoin projects driven by Black Myth: Wukong, WUKONG gained momentum from Black Myth: Wukong. Gamebilled as China’s most ambitious attempt at a blockbuster video game, attracted more than a million players within hours of its release. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
This rapid rise could cement WUKONG’s place in the memecoin space. In a related move, Tron founder Justin Sun updated his profile picture on X (former Twitter) to the character WUKONG. However, experts point to the prevalence of scam tokens in the memecoin sector, and caution against WUKONG.
Despite the concerns, some investors are already taking advantage of the latest trend. Blockchain data analytics platform Arkham Intelligence reported that one investor had invested $1,690 SUNDOG discovered that it had turned $20 million in just six days, a staggering profit of almost 12,000 times in less than a week. Arkham shared the following statement on the subject:
“TT4S5 was one of the earliest buyers of SUNDOG, purchasing 104.33 million tokens for $1,690. They currently hold $19.52 million worth of SUNDOG across 7 addresses and have also sent $1.08 million worth of SUNDOG to exchanges, making a total profit of $20.60 million.”
Justin Sun and the Memecoin Movement
Justin Sun kicked off the craze with the launch of SunPump, a platform built to mine memecoins within the Tron ecosystem. Sun believes the momentum will continue, highlighting Tron’s key advantages over rival networks, such as its extensive liquidity pool and growing user base:
“For me, the biggest flexibility when it comes to why TRON, why SunPumpMeme? is that TRON has $60 billion in USDT. No other blockchain protocol has a liquidity pool that big. Memecoin platforms live and die by liquidity, and TRON has that in spades.”
According to Sun, Tron owners are eager to invest in new and exciting memecoins. He attributes this interest to developers and investors looking for a platform with significant stablecoin liquidity. Additionally, Tron’s fast and cost-effective transactions, along with features like native MEV custody, make it an attractive option.
With interest in Tron memecoin projects on the rise, the SunPump platform is challenging Solana’s dominance. SunPump competed directly with Solana’s Pump Fun platform and generated over $1.1 million in revenue just 11 days after launch.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
