Tron’s new memecoin launchpad, SunPump, is stealing the spotlight from Solana’s leading platform, Pump.fun, capturing the attention of degen traders across the crypto market. Launched just last week, SunPump is already responsible for more new meme tokens in the last 24 hours than its Solana-based rival, signaling a significant shift in trader preferences.

• Tron’s new memecoin launchpad, SunPump, has overtaken the popular Solana platform Pump.fun in daily token launches.

• SunPump launched 7,352 tokens within the past 24 hours, surpassing Pump.fun’s 5,694 new tokens.

• Since SunPump’s debut, Tron has seen a surge in daily active wallets, reaching over 2.35 million addresses in the past day.

• Tron's flagship meme coin, Sundog, hit a market cap of $190 million, outperforming top tokens on Pump.fun.

• SunPump generated over $1.1 million in revenue in just 11 days, driving Tron’s daily network fees to an all-time high of $3.84 million.

SunPump vs. Pump.fun: revenues and transactions | Source: Dune Analytics 

SunPump, branded as the “first meme fair launch platform” by Tron creator Justin Sun, debuted last Tuesday. Since then, it has quickly climbed the ranks, launching 7,471 tokens in the past 24 hours, according to blockchain data from Dune. This outpaces Pump.fun, which managed to launch 6,644 tokens within the same timeframe—a stark contrast to the latter’s peak of over 20,000 daily tokens earlier this year.

SunPump’s rapid rise has shaken up the meme coin landscape. Previously, Pump.fun dominated the market with viral successes like Billy and Michi, earning over $2 million in daily revenue. But with the launch of SunPump, the tide is turning toward Tron.

Read more: What Is Pump.fun, and How to Create Your Memecoins on the Platform?

The Tron ecosystem’s surge in popularity extends beyond SunPump itself. The platform’s flagship meme coin, Sundog (SUNDOG), has seen its market cap soar to $190 million, easily surpassing any token launched on Pump.fun. For comparison, the most successful Pump.fun token, Michi (MICHI), sits at $61 million.

Sundog price spikes following the launch of SunPump | Source: Coinmarketcap 

The success of Sundog highlights the shifting momentum from Solana to Tron, and from Pump.fun to SunPump. It also demonstrates that crypto traders are quick to migrate when a better opportunity arises, echoing previous “vampire attacks” where users were lured away from one platform to another.

SunPump’s competitive edge isn’t limited to token launches. The platform boasts a higher “graduation” rate, with nearly 2% of tokens transitioning to Tron’s decentralized exchange, Sunswap, after reaching sufficient trading volumes. In contrast, Pump.fun sees only 1.26% of its tokens make it to Solana’s Raydium exchange.

This difference in success rates suggests that SunPump is better equipped to filter out low-quality projects, ensuring that more tokens achieve lasting value—a critical factor in sustaining long-term trader interest.

SunPump’s impact on the Tron network is undeniable. Tron’s daily active wallet addresses soared to 2.35 million in the past 24 hours, far outpacing Solana’s 967,000. Along with the influx of new users, Tron’s daily fees hit a record high of $3.84 million, more than doubling its pre-SunPump average of $1 million to $1.5 million.

Tron network revenue surges | Source: Dune Analytics 

Justin Sun has been vocal about the platform’s success, noting that SunPump’s revenue exceeded $1.1 million in just 11 days. On its peak day, August 20th, the platform generated nearly $400,000, minting over 6,000 tokens.

Read more: Top TRON Ecosystem Projects to Watch in 2024

While Tron’s SunPump enjoys its moment in the spotlight, skeptics continue to question the long-term value of memecoins. Data from Solana’s Pump.fun shows that only 1.5% of its 1.7 million launched tokens have reached a total value above $63,000. Critics argue that memecoins often inflate in price before insiders dump them, leaving investors with little to show for their efforts.

Yet, Sun remains optimistic. In a recent post on X, he emphasized that memecoins thrive on community-driven enthusiasm and fair launches, making them a unique force in the crypto space. “When every dev can build a community through a fair launch, gain everyone’s support, and foster enthusiasm and loyalty, the community can share in the success of the cryptocurrency,” Sun wrote.

Read more: Top Solana Memecoins to Watch

As the competition intensifies between SunPump and Pump.fun, Tron is emerging as a significant player in the memecoin ecosystem. With higher token success rates, increased network activity, and record-breaking revenue, SunPump is showing early signs of success. However, whether this momentum is sustainable remains uncertain, especially as the memecoin space is known for its volatility and unpredictability.

The coming weeks will be crucial in determining if SunPump can maintain its edge or if Solana’s Pump.fun will regain its dominance. While Tron’s strategy appears promising, investors should approach with caution. The memecoin market remains highly speculative, and rapid shifts in trader interest or unforeseen market events can quickly alter the landscape. As always, it’s essential to conduct thorough research and assess the risks before diving into these high-risk assets.