2024

Solana

Frenzy

Rise

<p>The <a href="https://www.thecoinrepublic.com/price-prediction/ethereum/" rel="noopener noreferrer nofollow">Tron</a> ecosystem has been thriving amid the success of the SunPump memecoin. This development triggered a massive surge in the Tron Network activity resulting in energy shortage, noted Justin Sun.</p>
<p>Regarding this current development, Sun mentions he notified the Super Representatives who have responded positively.</p>
<p>The Tron co-founder said that they will further propose an increase in the energy limit that will help to significantly reduce the energy costs and transaction fees on the Tron Network.</p>
<p>“Tonight will be unprecedented, but the only difference is that we are ready,” said Sun while referring to the frenzy around the SunPump memecoin.</p>
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   <p lang="en" dir="ltr">Due to the recent TRON network activity surge, an energy shortage arose. I informed the Super Representatives, who responded positively. They are expected to propose raising the energy limit today, significantly reducing energy cost and fees.</p>— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1826197694995746950?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 21, 2024</a>
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<h2 class="wp-block-heading" id="h-sunpump-rise-triggers-12-surge-for-tron-s-trx"><strong>SunPump Rise Triggers 12% Surge for Tron’s TRX</strong></h2>
<p>Justin Sun’s memecoin Sundog has gained massive attention hitting a market value of over $200 million indicating a massive early success. The launch of the Sundog memecoin on the SunPump platform has led to a huge surge in the Tron Network activity.</p>
<p>In the last 24 hours, the Sundog price is up by a staggering 42% trading at $0.2323 with a market cap of $232 million. This memecoin is already up by 256% in less than a week of launch.</p>
<p>Tron’s native cryptocurrency TRX is also reaping the benefits of the SunPump frenzy, surging by 12% in the last 24 hours shooting all the way to $0.1644. The daily trading volume of TRX has also surged by a massive 140% as of press time. As per the data from LookonChain, the Tron Network daily revenue has hit a new all-time high of $3.84 million amid the SunPump frenzy.</p>
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   <p lang="en" dir="ltr">After the launch of <a href="https://twitter.com/hashtag/SunPump?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SunPump</a>, the 24-hour revenue on <a href="https://twitter.com/hashtag/TronNetwork?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#TronNetwork</a> hit a new all-time high of $3.84M! <a href="https://t.co/IXs0fIhndV" rel="noopener noreferrer nofollow">pic.twitter.com/IXs0fIhndV</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1826205688785510532?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 21, 2024</a>
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<p>On the other hand, within just 11 days of launch, the SunPump platform has already clocked more than $1.1 million in revenue. On Tuesday, August 20, the memecoin platform generated revenue of 2.78 million TRX worth roughly $400,000, with the creation of more than 6000 memecoins.</p>
<h2 class="wp-block-heading" id="h-will-tron-eat-into-solana-s-memecoin-market-share"><strong>Will Tron Eat Into Solana’s Memecoin Market Share?</strong></h2>
<p>The year 2024 has been very fruitful for the entire memecoin industry with Solana-based memecoins leading the show. Thus, the launch of the SunPump platform on Tron comes just at the right time capitalizing on this momentum.</p>
<p>However, it seems that Tron is gearing up to eat into Solana’s market share, exactly what Solana did with Ethereum.</p>
<p>While the Tron-based SUNDOG memecoin made rapid advancements, the Solana-based memecoins like Dogwifhat (WIF) and BONK have come under strong selling pressure. On the weekly charts, both WIF and BONK are down by 8-9%.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/21/trons-justin-sun-proposes-boosting-energy-limit-amid-sunpump-frenzy/" rel="noopener noreferrer nofollow">Tron’s Justin Sun Proposes Boosting Energy Limit Amid SunPump Frenzy</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Tron’s Justin Sun Proposes Boosting Energy Limit Amid SunPump Frenzy

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