SunPump, a memecoin platform on the Tron blockchain, has generated over $1.1 million in revenue just 11 days after its launch.
SunPump, a memecoin platform on the Tron blockchain, has generated over $1.1 million in revenue just 11 days after its launch. Backed by Justin Sun, the platform has accumulated 7 million Tron (TRX) since its debut on August 9, according to Dune Analytics.
On August 20, SunPump experienced its highest revenue day, earning nearly 2.78 million TRX, or about $400,000, with over 6,000 memecoins created. However, the site briefly went offline due to high traffic, but developers quickly scaled up to restore service. Tron's daily revenue reached $2.17 million, doubling from the previous day.
Sun's Meme Ecosystem Boost Incentive Program, with a $10 million allocation, has helped drive liquidity into the Tron blockchain. Additionally, Tether minted another 1 billion USDT tokens on Tron on August 20.
Despite SunPump's success, there is ongoing debate about the value of memecoins. Critics point to declining trading volumes on Solana-based platforms and data suggesting most traders on Solana's pump.fun lose money. Since its launch in January, pump.fun has seen over 1.7 million tokens created, with less than 1.5% surpassing a total value of $63,000.
However, Sun remains optimistic, expressing confidence that memecoins succeed through community support and fair launches.
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