SunPump, a new memecoin deployer on the Tron blockchain, has seen impressive success since its launch. In the first 11 days of operation, the platform generated over $1.1 million in revenue. Created with support from Tron’s Justin Sun, SunPump’s launch has resulted in a significant increase in liquidity flowing into the Tron blockchain, bolstered by the $10 million allocation from Sun’s Meme Ecosystem Boost Incentive Program.
Despite a brief downtime due to high traffic volume, SunPump saw its revenue peak on August 20th at nearly 2.78 million TRX, approximately $400,000, coinciding with the creation of more than 6,000 memecoins. This surge in activity has been accompanied by significant amounts of new capital, including an additional 1 billion Tether tokens minted on the Tron blockchain.
However, the value of memecoins is a topic of ongoing debate within the crypto community. Critics argue that many memecoins see rapid inflation followed by significant decrease in value, leaving them with limited utility. Reports indicate low success rates for tokens launched via memecoin platforms, with very few reaching substantial total values.
Proponents, however, see memecoins as an essential part of the evolving crypto landscape. Justin Sun, for instance, argued that the success of memecoins is due to the freedom they afford developers in building communities, fostering enthusiasm and ensuring participant loyalty. Constantin Kogan, co-founder of decentralized launchpad BullPerks, described memecoins as one of the fastest-growing sectors in crypto.