TRON’s founder, Justin Sun, has recently unveiled SunPump, a platform designed for the creation and launch of meme coins, hoping to compete with similar platforms such as Solana’s pump.fun. Sun’s move is seen with skepticism by some in the crypto domain due to growing doubts about the continued viability of meme coins. The timing of SunPump’s introduction has also raised questions given concerns that the meme coin craze might be drawing to a close.
SunPump, launched on August 13 via Sun.io, provides users the capacity to swiftly generate meme coins. It imposes a creation charge of 20 TRX and a 1% transaction cost. According to the platform’s guidelines, two main actions are carried out by the smart contract when a project hits its bonding curve peak at $69,420: depositing roughly 100,000 TRX and shifting the residual 200 million tokens into the SunSwap V2 liquidity pool.
Despite this endeavor from Sun, there’s a growing feeling of unease about the meme coin market’s saturation. Recent data indicates that only a minuscule portion of the tokens manage to enjoy sustained success. For instance, of the thousands of meme coins initiated on platforms like pump.fun, a scant 41 have managed to retain a market cap over $1 million for several weeks.
Adding to the complexities, pump.fun recently adjusted its fee structure. It now allows users to create meme coins free of charge, shifting the $2 fee to the first buyer. This could potentially flood the market with new tokens, contributing to further saturation.
Nevertheless, Sun remains devoted to enhancing SunPump. He recently confirmed that the platform has undergone technical upgrades to boost performance. Despite the uncertainties in the meme coin market, Sun seems determined to carve out a niche and defy odds with this latest venture.