Boost

Memecoin

SUNDOG

TRON

dogwifhat

A crypto trader on the TRON network, <a href="https://x.com/arkhamintel/status/1826009580486447408?s=46&amp;t=aw6ZR-6aD050XLPVXY8AQA" rel="nofollow" target="_blank">TT4S5</a>, has made $20 million in unrealized profits within six days after his early purchase of the SUNDOG meme coin. The trader spent $1,690 to buy 104.33 million tokens, now worth $20.6 million. So far, they have sold $1.08 million worth of SUNDOG but still hold $19.52 million tokens across seven addresses. 
The massive profits highlight how traders are capitalizing on the emerging meme coin market on the TRON network since the launch of meme coin deployer, SunPump. While SUNDOG is leading the trend, several other meme coins are surfacing on the network and gaining momentum. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-sundog-crosses-250-million-in-market-cap-span">SUNDOG crosses $250 million in market cap</h3> 
SUNDOG has been the biggest beneficiary of the meme coin mania on the TRON network. The token has seen its market cap go from less than $2 million a few days ago to $250 million. This is thanks to its price increasing more than 100 times within that period. 
According to CoinMarketCap, SUNDOG has increased by more than 60% in the last 24 hours and trades at $0.2573. Its massive rise in value contradicts the general market trend, which has seen most cryptocurrencies fall in value over the last 24 hours. 
Its growth has earned it comparison with the popular Solana meme coin dogwifhat (WIF), which had a similar run, culminating in its market cap reaching $4.5 billion. However, WIF price is down more than 50% in the last three months, and the market cap is at $1.5 billion. 
Meanwhile, more meme coins are surfacing on TRON and looking to replicate the success of SUNDOG. Popular ones include Sun Token, Coconut Chicken, Suncat, Meow, and Sunpepe. So far, 20,152 meme coins have been created on SunPump, and more will likely emerge in the coming weeks. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-tron-aims-to-dethrone-solana-as-the-meme-coin-network-span">TRON aims to dethrone Solana as the meme coin network</h3> 
The growth of SUNDOG has led many users to speculate that TRON will become the network for meme coins as users rotate liquidity out of Solana. While this is not likely to happen soon, SunPump is already taking part in Solana-based Pump.fun’s market share. 
SunPump has <a href="https://dune.com/hashed_official/sunpumpmeme" rel="nofollow noopener" target="_blank">generated</a> 8.2 million TRX worth $1.3 million in revenue in less than two weeks of launch. Its revenue has also been growing steadily, having its best day on August 20 when it pulled in around 2.78 million TRX worth $400,000. 
<figure id="attachment_571724" aria-describedby="caption-attachment-571724" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-571724" src="https://www.cryptopolitan.com/wp-content/uploads/2024/08/Screenshot-2024-08-21-122826.png" alt="Tron Memecoin" width="619" height="373" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/08/Screenshot-2024-08-21-122826.png 619w, https://www.cryptopolitan.com/wp-content/uploads/2024/08/Screenshot-2024-08-21-122826-300x181.png 300w" sizes="(max-width: 619px) 100vw, 619px">
 <figcaption id="caption-attachment-571724" class="wp-caption-text">
 Tron Memecoin Data (Source: Dune Analytics)
 </figcaption>
</figure> 
While these figures are all-time high numbers for SunPump, it is still a fair distance away from the volume on Pump.fun. 
The Solana-based token deployer has <a href="https://dune.com/jhackworth/pumpfun" rel="nofollow noopener" target="_blank">generated</a> over 1.7 million tokens since its launch and has made 644,765 SOL ($99.7 million) in fees. Nevertheless, SunPump enjoys the backing of TRON founder Justin Sun, and the network is also <a href="https://x.com/sunpumpmeme/status/1824037165061357585" rel="nofollow" target="_blank">supporting</a> meme coins with a $10 million Meme Ecosystem Boost Incentive Program allocation. 
This will likely further boost meme coin activity on the network, a goal Sun is clearly interested in. He has spoken glowingly about meme coins on X. According to him, even the smallest growth of a meme token can bring joy to everyone “because, with community and decentralization, you have everything.”

TRON meme coin trader makes $20M profits in 6 days

Table of Contents

Cryptopolitan_News

Other articles published on Aug 21, 2024

Animoca Brands’ gaming platform GAMEE secures funding from Pantera Capital

Analyst Predicts Significant Rise for Low Market Cap Altcoin

Shiba Inu (SHIB) Makes 1 Trillion Comeback

New Cryptocurrency Releases, Listings, & Presales Today – WEEX Token, Pepe Unchained, Chain-key USDT

Major Fund Managers Weigh in on the Ethereum Price Reaching $166K, RCOF and AAVE Would Benefit

What is the Recent Paradigm-Funded Reddio Network?

Join our free newsletter for daily crypto updates!