Boost

SunPump, a new memecoin deployer on the Tron blockchain, has generated over $1.1 million in revenue in the 11 days since its initial launch.
The Justin Sun-backed platform has taken in total revenues of 7 million Tron (<a href="https://cointelegraph.com/tron-price-index">TRX</a>) since its <a href="https://cointelegraph.com/press-releases/sunpump-beta-launches-on-tron-driving-innovation-in-meme-coin-development">launch on Aug. 9</a>, according to <a href="https://dune.com/hashed_official/sunpumpmeme" target="_blank" rel="noopener nofollow">data</a> from the web analytics platform Dune.
So far, SunPump’s biggest revenue day was Aug. 20, when it earned almost 2.78 million TRX worth roughly $400,000, with over 6,000 memecoins created.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/4c8beab0-759b-44ea-9268-00e62ea545ca.JPG" alt="Tron memecoin deployer ‘SunPump’ tops $1M in revenue 11 days after launch" title="">
 <figcaption style="text-align: center;">
 SunPump has managed to surpass $1 million in revenue after 11 days of operation. Source: Dune
 </figcaption>
</figure>
In an Aug. 20 X post, Sun said SunPump was down after “experiencing unprecedented traffic,” and the developers were “urgently scaling up” to restore service. The platform came back online roughly an hour later.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/bd3f4fd1-0591-4ef8-b93e-411e2216c59a.JPG" alt="Tron memecoin deployer ‘SunPump’ tops $1M in revenue 11 days after launch" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/justinsuntron/status/1825557823897706608" target="_blank" rel="noopener nofollow">H.E. Justin Sun&nbsp;</a>
 </figcaption>
</figure>
Liquidity has been flowing into the Tron blockchain since the launch of SunPump, with a bit of help from the $10 million allocation from Sun’s Meme Ecosystem Boost Incentive Program.&nbsp;
Stablecoin issuer Tether also <a href="https://cointelegraph.com/news/tether-mints-1-billion-usdt-tron-33-billion-year">minted another 1 billion</a>&nbsp;of its Tether (<a href="https://cointelegraph.com/tether-price-index">USDT</a>) tokens on the Tron blockchain on Aug. 20. 
Tron has generated $2.17 million in revenue over the last 24 hours, doubling the $1.06 million from the day before, <a href="https://defillama.com/chain/Tron?volume=false&amp;revenue=true" target="_blank" rel="noopener nofollow">according</a> to data from DefiLlama.
<h2 data-ct-non-breakable="true" id="debate-still-ongoing-over-memecoin-value">Debate still ongoing over memecoin value</h2>
Skeptics have <a href="https://cointelegraph.com/news/debate-continues-memecoins-positive-destructive-crypto">questioned the value</a> of memecoins to the crypto industry as Solana-based memecoin trading volumes continue to fall, with recent contested <a href="https://x.com/Adam_Tehc/status/1824994679265349802" target="_blank" rel="noopener nofollow">data</a> showing most traders on the Solana memecoin launching platform pump.fun lose money.
Over 1.7 million tokens have been <a href="https://dune.com/jhackworth/pumpfun" target="_blank" rel="noopener nofollow">launched</a> via pump.fun since its launch in January, with less than 1.5% of them ever reaching a total value of more than $63,000. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/e3b4661a-f9dd-46e8-8ad2-587f2bfda8dd.JPG" alt="Tron memecoin deployer ‘SunPump’ tops $1M in revenue 11 days after launch" title="">
 <figcaption style="text-align: center;">
 Pump.fun has facilitated the creation of over 1.7 million memcoins since its launch. Source: Dune
 </figcaption>
</figure>
In an Aug. 13 panel discussion at Canada’s Futurists conference, Appchain Noble CEO Jelena Djuric <a href="https://cointelegraph.com/news/memecoin-retail-mania-could-go-way-ico-nft">said despite memecoin season</a> still marching forward, she’s skeptical of its longevity.&nbsp;
Messari data engineer Mike Kremer shared a similar sentiment in an Aug. 19 newsletter, claiming memecoins have a “destructive dynamic” as many see their price inflate, leading to insiders dumping the token, leaving it with no real value or utility. 
Related: <a href="https://cointelegraph.com/news/memecoin-casino-bet-pump-odds">Memecoin casino: $100 bet on Pump.fun has worse odds than roulette</a>
Meanwhile, Sun remains <a href="https://x.com/justinsuntron/status/1825831810145857610" target="_blank" rel="noopener nofollow">bullish</a> on memecoins, posting to X that he <a href="https://x.com/justinsuntron/status/1825623048122413434" target="_blank" rel="noopener nofollow">thinks</a> the success of the tokens “isn’t by chance.”
“When every dev can build a community through a fair launch, gain everyone’s support, and foster enthusiasm and loyalty, the community can share in the success of the cryptocurrency,” Sun wrote. 
Constantin Kogan, a co-founder of decentralized launchpad BullPerks, also thinks&nbsp;<a href="https://cointelegraph.com/news/meme-coins-play-important-role-in-crypto">memecoins have an important role to play</a> in crypto, calling it one of the “fastest-growing sectors in the space.” 
Magazine: <a href="https://cointelegraph.com/magazine/cryptocurrency-airdrop-bots-blockchain-pga-golf-game-cointelegraph-magazine/">Beat crypto airdrop bots, Illuvium’s new features coming, PGA Tour Rise: Web3 Gamer</a>

Tron memecoin deployer ‘SunPump’ tops $1M in revenue 11 days after launch

Table of Contents

Cointelegraph

Other articles published on Aug 21, 2024

How AI Can Revolutionize Bitcoin Mining: VanEck’s Matthew Sigel Explains

Volume dan Tekanan Beli Meningkat Litecoin, Siap Tembus US$79?

Kamala Harris Supports Measures to Aid Digital Asset Industry Growth

Bitcoin Consolidation: Key Fibonacci Levels and Resistance Analysis for Potential Upside

El Salvador Launches Bitcoin Training Session for 80,000 Civil Servants

TopG1500 Price Prediction – Is $T1500 Still a Good Buy for a Potential 10X Return?

Join our free newsletter for daily crypto updates!