The newly introduced SunPump, a meme coin deployer on the Tron network, is seeing significant adoption in the industry. Following the launch of the meme coin deployer, Tron (TRX) has risen to the top of trending cryptocurrency assets, triggering a wave of engagement and interest within the Tron ecosystem, as cited by Santiment, a leading market intelligence platform. This rising interest demonstrates the network’s flexibility and persistent importance in the dynamic world of digital assets.
Tron (TRX) Sees Historic Levels Of Traders Interest
SunPump’s debut on August 12, marked a historic moment for the Tron ecosystem, drawing in notable investors’ interest toward the network and the TRX token. According to Santiment, the new meme coin deployer has put TRX in the spotlight as its market value has reached a high of about $0.165, attracting an increase of over 22% in the past day.
Analyzing the data, Santiment revealed that the deployer’s performance has generated long-term optimism, which suggests a strong possibility for both short-term volatility and mid-term bullish price momentum for TRX. Due to this, the platform has pointed out several aspects of the network to look out for as SunPump continues to capture investors.
The first area highlighted by the platform is an increase in Tron’s network activity. Santiment noted that since SunPump’s debut, the network’s activity has substantially risen, especially with regard to meme coin launches on the deployer. As a result, there has been a spike in TRX burns, which suggests that there is a rising demand and a falling supply for the digital asset.
Another aspect to look out for is meme coin popularity. Thus far, meme coins have taken center stage on the network, where tokens like SUNDOG are becoming quite popular. Currently, meme coin trading is rife in the community, akin to meme seasons that resulted in a remarkable price upswing in the past.
Santiment also considers development and partnerships as a crucial aspect of the advancement of the network. This is because the continuing alliances and initiatives within its ecosystem, such as joint ventures with hedge funds and other projects are anticipated to trigger heightened engagement and investment, thereby impacting the price of TRX.
Lastly, Santiment points to the network’s founder, Justin Sun‘s influence, whose involvement and reputation could offer additional credibility to the project. “Investors are optimistic about his ability to navigate challenges and drive Tron’s growth,” Santiment added.
SunPump Surpasses Major Meme Coin Deployer
As meme coins continue to capture the investors’ attention, the Tron-based SunPump has surpassed major meme coin deployers like its Solana-based counterpart Pump Fun, positioning it as a key player in the cutthroat industry.
Market expert Adam revealed that SunPump, in the last 24 hours, tipped over Pump Fun in both issued tokens and fees. Data shared by the expert showed that SunPump saw over 7,531 issued tokens, attracting about $585,437 in fees, while Pump Fun witnessed 6,701 issued tokens and $366,481 in expenses.
Featured image from Unsplash, chart from Tradingview.com
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