Inspired by the success of Solana’s (SOL) meme coin sector, Justin Sun’s Tron (TRX) is diving into the meme coin market. In an announcement earlier today, Sun revealed that Tron is launching a new meme coin season with the introduction of SunPump.
SunPump is a meme coin launch platform on the Tron network that uses the SUN.io decentralized exchange (DEX). Currently in beta, SunPump offers users up to 99% off gas fees, making it a cost-effective option for meme coin projects.
Get ready for a wild ride as we delve into the details of this exciting development.
To protect investors from unfair practices, SunPump has set strict rules. For example, there are no pre-sales or team allocations for any meme coin launched on the platform. Additionally, SunPump will increase the TRX burn rate by requiring meme coin projects that reach a market cap of $69,420 to burn $12,000 worth of TRX via SunSwap.
The launch of SunPump is expected to drive significant growth in on-chain activity on the Tron network. Tron is already leading other major blockchains in on-chain activity, thanks to its large stablecoin market. The influx of new users is likely to improve the network’s liquidity and trading volume.
Technically, TRX’s price has been following the trends of Bitcoin (BTC) and Ethereum (ETH) in recent weeks. Last week, TRX closed with a dragonfly Doji candlestick, a sign that the bulls may be gaining control. If TRX can consistently close above 13 cents, the $10 billion altcoin might be on track to challenge its all-time high (ATH) soon.
With SunPump in the mix, the Tron network is poised for explosive growth. Are you excited?
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