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Tokens in the SunPump ecosystem experienced a significant decline, reflecting a similar downturn in the Pump.fun ecosystem. 
On Aug. 22, the Sundog (<a href="https://crypto.news/price/sundog-2/">SUNDOG</a>) token dropped by over 7%, reducing its market cap to $215 million. Other tokens in the ecosystem fared worse, with FoFar (<a href="https://crypto.news/price/fofar/">FOFAR</a>), Suncat (<a href="https://crypto.news/price/suncat/">SUNCAT</a>), and several others all plunging by over 40% during the same period. 
These declines occurred as the total market cap of all tokens in the SunPump ecosystem reached $268 million, just a week after its launch. 
 You might also like: <a href="https://crypto.news/trx-jumps-12-amid-sunpump-memecoin-hype/"> TRX jumps 12% amid SunPump memecoin hype </a> 
According to data from <a href="https://defillama.com/protocol/sunpump#information" target="_blank" rel="">DeFi Llama</a>, the total value locked in the SunPump ecosystem has climbed to $1.3 million, with the annualized fee income rising to $4.12 million. 
Token generation platforms have proven to be highly profitable this year. Despite the sharp drops in most Pump.fun tokens, the ecosystem has generated nearly $100 million in fees over the past eight months. These platforms earn fees by charging for token launches and transactions. 
SunPump tokens declined even after the network announced a partnership with CoinMarketCap. This collaboration will introduce a new dedicated express support channel for Tron (<a href="https://crypto.news/price/tron/" target="_blank" rel="noreferrer noopener">TRX</a>) memes. CoinGecko, CoinMarketCap’s closest competitor, has already launched a dedicated page for these memes. 
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Justin Sun, the founder of Tron, hopes that the meme coins within the ecosystem will boost Tron’s network similarly to how they have energized the Solana (<a href="https://crypto.news/price/solana/">SOL</a>) blockchain.&nbsp; 
Meme coins have helped turn Solana to the second-biggest blockchain for Decentralized Exchanges after Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>). It has a market dominance of 22.2% while Tron has 0.86%.&nbsp; 
There are signs that this growth is working as the volume handled in Sun DEX has risen by 332% in the past 7 days to <a href="https://defillama.com/dexs/chains/tron" target="_blank" rel="">over $543 million</a>.&nbsp; 
These tokens could benefit if there is a new crypto bull run, which will only happen if Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) rises above the all-time high of $73,800.&nbsp; 
 You might also like: <a href="https://crypto.news/sunpump-buoys-trons-24-hour-revenue-over-ethereum/"> SunPump buoys Tron’s 24-hour revenue over Ethereum </a>

SunPump market cap reaches $268m as Sundog, FoFar, Suncat tumble

crypto.news

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