Solana’s meme coins dip as Tron’s SunPump hit frenzy

Solana’s meme coins rush is taking a halt now as Tron’s recently launched SunPump looks to take over the market. The new meme coin deployer on the Tron blockchain has generated more than $1.1 million in revenue in just 11 days.

Meme coins like DogWifHat (WIF) and Bonk are now facing new rival trending tokens SunDog (SUNDOG) and SUN Token (SUN) in the league. A fresh surge of 25% over the last 7 days can be seen in TRON price as its linked meme coins are hitting the top bands.

Tron’s SUNDOG beats WIF in fresh surge

As per the data provided by Coingecko, Solana based WIF price took a dip of 42% in the past 30 days, while, it dropped further by 7% over the last 7 days. WIF is still the 4th biggest meme crypto with a market cap of $1.5 billion. A similar price decline can be seen in BONK’s trajectory.

BONK price slumped by 7% in 7 days and 40% in the last 30 days, depicting the descent in the Solana based meme coins. BONK is trading at an average price of $0.00001822, at press time.

On the other hand, Tron’s SUNDOG has posted a gain of 285% in the last 24 hours. It extended the lead by surging 54% in the last 24 hours. SUNDOG is trading at an average price of $0.251, at press time. Its 24-hour trading volume is up by 20% to stand at $65 million with a market cap of $252 million.

SUN is another TRON meme token hitting new highs. It has managed to print more than 67% gains in the last 7 days. Its 24-hour trading volume spiked by 418% to stand at $239 million.

SunPump sees $1.1M in revenue

Since its debut on August 9, SunPump has raked in 7 million TRX (approx. worth $1.1M). The platform’s biggest revenue day was recorded on August 20, pulling in nearly 2.78 million TRX (approx. $400,000) with over 19K coins created.

On Tuesday, SunPump hit a snag due to unprecedented traffic, which caused a temporary shutdown. Justin Sun announced that the team is “urgently scaling up” to handle the surge and the platform was back online after about an hour.

The launch of SunPump has boosted liquidity on the Tron blockchain, with a $10 million allocation from Sun’s Meme Ecosystem Boost Incentive Program. However, Tether minted another 1 billion USDT on Tron recently.

TRON (TRX) price is rallying high as it surged 12% in the last 24 hours. Its 24-hour trading volume is up by 120% to stand at $1.711 billion.