The creator of TRON just launched SunPump, a new platform for the meme coin craze. SunPump is designed to allow users to swiftly create meme coins. Because we need more memecoins, oh wait…
SunPump will pump Sun’s fun?
SunPump serves as TRON’s first memecoin launchpad, charging a creation fee of 20 TRX and a 1% trading fee.
The platform utilizes a smart contract that deposits 100,000 TRX and transfers 200 million tokens to the SunSwap V2 liquidity pool once a project reaches its bonding curve at $69,420.
This mechanism is intended to ensure liquidity and stability for the tokens created, and not surprisingly, it looks pretty similar to the big competitor, Pump.fun’s method.
The memecoin market is becoming increasingly saturated, likely because no one needs tens of thousand of memecoins.
It’s a lame idea. Fred, a former co-founder of Crypto Banter shared his concerns, suggesting that while memecoins can offer quick profits for traders, they are often the first to be sold off when market sentiment turns negative.
He pointed out that platforms like Pump.fun are flooding the market, leading to painful losses for many retail investors.
Out of the thousands of tokens launched on platforms like Pump.fun, only 41 have managed to maintain a market cap of over $1 million for several weeks, representing just 0.0002% of all tokens created.
No land for new memecoins?
The situation is further complicated by changes on competing platforms. For example, Pump.fun now allows users to create meme coins for free, shifting the $2 fee to the first buyer.
This adjustment could result in an even more crowded market, making it difficult for new tokens to gain traction.
Of course, Justin Sun remains optimistic about SunPump’s future, and in a posts on X, he mentioned ongoing technical upgrades to the platform and emphasized that SunPump is still in its early stages.
Sun’s confidence in the platform’s potential suggests that he believes it can succeed even in a competitive and saturated market like we have now.
We all like having fun
The big question is whether SunPump can differentiate itself in a crowded space or if it will struggle like many other memecoin platforms.
The crypto community is divided, with some hopeful about SunPump’s prospects and others doubtful that yet another memecoin platform can succeed in the long term.
