Tron-Based SUN Token Soars 197% Amid SunPump’s Momentum

The memecoin frenzy has reached the Tron Network after the launch of Pump.fun’s rival, SunPum. The brand new memecoin deployer has been making the headlines after surpassing its Solana-based counterpart on key metrics this week.

The platform’s remarkable performance previously two weeks has propelled the network, TRX, and the SUN ecosystem. Because of this, SUN, the native token of the DeFi protocol behind SunPump, has surged over 190% within the last seven days.

SunPump Takes The Market By Storm

Nearly two weeks ago, DeFi protocol SUN.io introduced SunPump, a Tron-based memecoin launcher to rival Solana’s Pump.fun. The project, which has been heavily promoted by Tron’s founder Justin Sun, became the primary memecoin deployer within the blockchain.

Presented as a “convenient and cost-effective token issuance solution,” the deployer has gained significant popularity previously week. The crypto community was first skeptical concerning the project, claiming it likely marked “the top of the memecoin era.”

Nonetheless, its recent performance has brought recent life to the Tron network, significantly boosting activity. Dune Analytics data shows that SunPump has deployed over 33,330 memecoins since its creation, generating over 13.1 million TRX, value around $2 million, in revenue.

On Wednesday, the platform reached an all-time high (ATH) on key metrics, surpassing its Solana counterpart in issued tokens and each day fees. SunPump made $585,000 in revenue on that day from creating 7,531 tokens, while Pump.fun launched 6,701 and generated $366,000 in fees.

SunPump flips Pump.fun in issued tokens and each day revenue. Source: Adam on X

Tron-Based Tokens See Massive Surge

Some investors have capitalized on the brand new memecoin frenzy with among the hottest tokens launched within the blockchain. Every week ago, two animal-themed tokens saw increases of over 50,000% and 25,000% after launching.

On the time, SUNDOG reached a market capitalization of $60 million, which granted it to be listed on crypto exchanges Poloniex and HTX. Since then, the dog-themed token has reached a market cap of $322 million, currently at $190 million.

As of this writing, SUNDOG is trading at $0.1918, a 260% price increase within the last seven days. Similarly, SUN, the native token of SUN.io, is amongst the biggest winners of the week, with a 197% surge propelled by the network’s momentum.

SUN was originally launched in 2021 and reached an ATH of $66 before crashing because of supply hyperinflation. Since then, the token has been redenominated as a multifunctional governance token on the SUN platform.

Last week, SunPump revealed that 100% of the protocol’s revenue could be used to purchase back and burn SUN tokens to “support the sustainable development of the SUN ecosystem.”

Furthermore, Binance Futures announced on Thursday the launch of the SUNUSDT Perpetual Contract with as much as 75x leverage. This week, the bullish push has made SUN’s price break out of a multi-year consolidation range.

After moving sideways inside the $0.003-$0.01 price range for the past 4 years, SUN broke above the $0.15 resistance level on Tuesday. Since then, the token has continued its bullish rally with a 30.4% increase within the last 24 hours. As of this writing, SUN is trading at $0.031 with a market capitalization of $301 million.

SUN’s performance within the seven-day chart. Source: SUNUSDT on TradingView