thecryptobasic.com
The market cap of TRON’s meme coins has climbed to $594 million, marking a 17.3% rise within just 24 hours.
Notably, this growth follows a recent announcement by TRON founder Justin Sun, who hinted that the market might continue its upward trajectory. TRON community members are closely watching for signs of further growth following Sun’s comments, which suggest that TRON’s meme market could reach $1 billion.
I heard that Tron meme is going to reach $1 billion.
— H.E. Justin Sun🌞(hiring) (@justinsuntron) September 12, 2024
The idea has been met with enthusiasm, and many community members are now speculating on which meme coins will be responsible for driving this surge.
In an earlier statement, Sun shared that community-driven efforts are the backbone of meme coin success. According to him, strong, loyal communities behind meme coins play a critical role in fostering their growth and value.
He also pointed out that these projects offer fairness and decentralization, creating opportunities for wider participation in cryptocurrency gains.
This positive sentiment is mirrored by notable whale activity on the platform. For instance, Lookonchain data indicates that a whale recently withdrew over 13 million TRX from Binance and used it to purchase 3.52 million SUNDOG tokens in a single transaction.
This move has further heightened attention on TRON’s meme coins, with open interest in SUNDOG increasing by 50%, according to on-chain analytics firm Coinglass.
Investors Show Increased Interest
Further, investor interest in TRON-based meme coins has increased significantly, with key tokens experiencing substantial gains. In the past week alone, TRON Bull recorded a 117.8% jump, with SUNDOG following closely behind with a 58.7% increase.
Additionally, MUNCAT and SUNCAT also showed strong performance, rising by 65.6% and 33.6%, respectively. These figures indicate that confidence in TRON’s meme coin ecosystem is growing rapidly, attracting both retail investors and major players.
SunPump, a platform dedicated to launching meme coins on TRON, has been instrumental in driving this surge. Per a late August report, since its launch on August 9, SunPump had generated over $1.2 million in revenue.
The platform’s impact has been widely felt, especially with a peak of $2.76 million in daily revenue recorded on August 20. The influx of new meme coins on TRON, supported by SunPump, has further fueled market activity.