2024

Memecoin

when

Meme coin launchpad,&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/what-is-tron-blockchain-s-sun-pump" rel="noopener noreferrer nofollow">SunPump</a>, launched just 12 days ago on August 9, has already outpaced its main competitor, Solana-based Pump[dot]fun, in both the number of tokens launched and revenue generated.&nbsp;
SunPump has seen 7,351 new tokens launched, generating $585,000 in revenue in 24 hours, according to blockchain researcher&nbsp;<a style="text-decoration:none" href="https://x.com/Adam_Tehc/status/1826427947781161101" rel="noopener noreferrer nofollow">Adam Tehc</a>. In comparison, Pump[dot]fun, which has been a dominant force in the meme coin market, saw 6,701 tokens launched and $366,000 in revenue during the same period.&nbsp;
<div>
 <blockquote class="twitter-tweet">
 .<a href="https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@justinsuntron</a>'s Sun Pump ends the day flipping Pump Fun in both issued tokens &amp; 24-hour fees. <a href="https://t.co/0pkELP1bHA" rel="noopener noreferrer nofollow">pic.twitter.com/0pkELP1bHA</a>— Adam (@Adam_Tehc) <a href="https://twitter.com/Adam_Tehc/status/1826427947781161101?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 22, 2024</a>
 </blockquote>
</div>
At its peak, Pump[dot]fun was responsible for over 20,000 tokens launched daily, drawing over $2 million in revenue. However, SunPump’s recent performance indicates a shift in market dynamics.
<h2 dir="ltr" id="span-span-sunpump-s-features-span-span">SunPump's Features</h2>
One of the key factors that might be contributing to SunPump’s success is its bonding curve mechanism. This process reportedly ensures that liquidity is always available for trading, reducing the risks associated with price volatility—a common issue in the memecoin market.
&nbsp;
When a project reaches 100% of its bonding curve at a value of $69,420, the smart contract automatically deposits around 100,000 TRX and 200 million tokens into the SunSwap V2 liquidity pool.&nbsp;
&nbsp;
Additionally, SunPump charges a creation fee of 20 TRX (approximately $2.60) and imposes a 1% trading fee. These fees are designed to maintain the platform’s sustainability while also contributing to the liquidity pool, making it an attractive option for traders looking to create and trade memecoins with ease.
&nbsp;
The platform’s success has been boosted by its strategic partnership with the Poloniex cryptocurrency exchange. This partnership ensures that projects maintaining a daily trading volume of $1 million for three consecutive days qualify for listing on Poloniex, providing additional incentives for traders to use SunPump.
<h2 dir="ltr" id="span-span-concerns-and-criticisms-span-span">Concerns and Criticisms</h2>
Despite its rapid rise, SunPump’s timing has raised concerns among some market observers.&nbsp;
&nbsp;
The meme coin market is becoming increasingly saturated, with only a tiny fraction of tokens achieving lasting success.&nbsp;
&nbsp;
Data shows that out of thousands of meme coins launched on platforms like Pump[dot]fun, only 41 have maintained a market capitalization exceeding $1 million for several weeks, representing just&nbsp;<a style="text-decoration:none" href="https://x.com/newtoneinsteinx/status/1823280368969207966" rel="noopener noreferrer nofollow">0.0002% of all tokens</a>.
&nbsp;
Fred, a former co-founder of Crypto Banter, recently&nbsp;<a style="text-decoration:none" href="https://x.com/fred7130/status/1823433204914589897" rel="noopener noreferrer nofollow">expressed concern</a> about the longevity of the meme coin frenzy. He noted that these coins are among the first to be sold off when market sentiment shifts, potentially leaving traders vulnerable to significant losses.

SunPump Surges Ahead of Pump.fun in Memecoin Race With $585,000 Revenue in a Day

Table of Contents

BSCN

Other articles published on Aug 22, 2024

The real reason Binance will never go public

Tron Outpaces Ethereum in Speed

Bitget Wallet Integrates Babylon Bitcoin Staking Mainnet (22 Aug)

Begini Masa Depan Bitcoin Jika Dolar AS Turun Terus

Analysts Point to Market Reset as Potential Catalyst for Bitcoin’s Next Rally

Near Protocol Dubbed the Next Solana but All The Momentum Is With Rollblock As Price Surges Again

Join our free newsletter for daily crypto updates!