SunPump memecoin hype has seen TRON (TRX) price, volume and revenue surge.
Following SunPump’s launch, the 24-hour revenue on TRON spiked to an all-time high of $3.84 million
TRON (TRX) continues to lead the altcoin market’s top cryptocurrencies by market cap after experiencing significant gains over the past 24 hours.
After breaking above the $0.14 resistance level reached last in late June, TRX continued higher to hit prices near $0.17 and see its market capitalization rise to over $14.3 billion. While still outside of the top 10 by market cap, the cryptocurrency is just off 10th spot currently occupied by Dogecoin that has a market cap of $15.1 billion.
TRON revenue surges amid meme coin hype
As TRX price soars to see bulls target the all-time peak reached during the last bull market, there’s fresh momentum likely to make this quest achievable.
This relates to the massive hype that currently surrounds SunPump, the fair launch platform for meme coins on TRON. On-chain data from Dune Analytics shows that SunPump has seen over 20,880 meme coins launched since its debut.
It’s a milestone that has catapulted revenue for the memecoin launch platform and for TRON. SunPump revenue as at the time of writing stood at 8,353,268 TRX, or about $1.38 million.
Notably, the 24-hour revenue for TRON has spiked to an all-time high of $3.84 million amid the SunPump hype.
After the launch of #SunPump, the 24-hour revenue on #TronNetwork hit a new all-time high of $3.84M! pic.twitter.com/IXs0fIhndV
— Lookonchain (@lookonchain) August 21, 2024
Meanwhile, TRON’s total revenue over the month exceeds $161 million, compared to over $45 million and $21 million for Ethereum and Solana.
The meme coin platform’s massive traction – including with the outperformance of the Sundog (SUNDOG) meme coin – has helped TRON outpace Ethereum and Solana in 24-hour volume.
In a post on X on Aug. 21, TRON founder Justin Sun touted the growth potential for TRON network’s activity and SunPump’s volume, noting these metrics would “see a 100% daily growth.”
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