Sun Pump, a memecoin generator based on Tron, launched less than two weeks ago and already overtook Pump Fun. So, how did this happen?

What is Sun Pump

Introduced in mid-August by Justin Sun, the well-known founder of Tron, Sun Pump is a token generator branding itself as the “first meme fair launch platform” on the Tron network. It stands in direct opposition to Pump Fun. The team markets Sun Pump as a platform with “no rug pulls and no team allocation.”

“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,” said Justin Sun.

But how is it different to Pump Fun?

Sun Pump vs Pump Fun

After debuting on Solana in January, Pump Fun has allowed users to create and launch their own meme coins without technical skills, using a bonding curve pricing model that adjusts token prices based on supply and demand. Originally exclusive to Solana, Pump Fun has expanded to Base and Blast, removed user token deployment costs, and rewards creators with 0.5 SOL when their tokens exceed the bonding curve.

Sun Pump, on the other hand, is not just an alternative platform on a different chain for issuing tokens. The platform boasts a higher rate of token success, with nearly 2% of its tokens transitioning to the Tron’s decentralized exchange, Sunswap, after reaching sufficient trading volumes. In comparison, Pump Fun sees only 1.26% of its tokens move to the Solana exchange, Raydium. This difference suggests that Sun Pump might be more effective at ensuring a higher proportion of tokens achieve long-term value, which is crucial for maintaining trader interest.

According to Dune Analytics, Sun Pump has launched 7,351 tokens and generated $585,000 in revenue on August 21st, while Pump Fun saw 6,701 new tokens created and $366,000 in revenue during the same period.

Sun Pump Ecosystem

Now, let’s take a look at some of the tokens:

🐶 SUNDOG: Currently one of the standout tokens on Sun Pump, SUNDOG has emerged as the de facto mascot of the platform. At the time of writing, it boasts a significant market cap of $191 million, reflecting its prominence and the strong community support it has garnered.

🐷 FoFar: Drawing inspiration from Matt Furie’s Boys’ Club, which includes the iconic Pepe character, FoFar features a distinctive red pig design. Despite its more niche appeal, FoFar has made an impression with a market cap of $16.7 million, showcasing its unique place within the ecosystem.

🐱 SUNCAT: Where there’s a SUNDOG, you’ll find a SUNCAT! Launched just a week ago, this token has quickly made its mark with a market cap of over $7 million, adding its own touch of excitement to the Sun Pump lineup.

However, the most captivating token to date is SunWukong.

SunWukong

An anonymous trader on the Tron network invested $1,000 to buy 43.8 million SunWukong tokens. The token’s value surged dramatically after Tron founder Justin Sun updated his profile picture to Sun Wukong, a character from the newly released game Black Myth: Wukong, which drew inspiration from the classic Journey To The West. This surge pushed the trader’s investment to over $750,000.

The market cap of SunWukong jumped from around $3,000 to $17 million in less than 12 hours. Although the value has since dropped, the token still holds a market cap of $9.4 million. As of now, the trader hasn’t sold any of their SunWukong tokens, and their holdings are currently worth about $329,000.

Summary

Sun Pump, a memecoin generator on the Tron network, has rapidly gained popularity since its launch, quickly surpassing Pump Fun. In just under two weeks, Sun Pump has significantly boosted activity on Tron, with active wallets on the network rising to over 2.35 million addresses. While critics argue that memecoins are detrimental to the crypto space, there is significant enthusiasm surrounding them, and they can bring substantial interest and engagement to the market.

The upcoming weeks will be crucial in determining whether Sun Pump can maintain its momentum or if Pump Fun will reclaim its leading position. As always, investors should approach this highly speculative market with caution and conduct thorough research before engaging with these volatile assets.