TRON’s meme coin market cap has surged to $594 million, up 17.3% in just 24 hours.
The growth comes on the heels of a recent announcement from TRON founder Justin Sun, who suggested that the market could continue its upward trajectory. TRON community members are closely monitoring signs of further growth following Sun’s comments, which suggest that the TRON meme market could reach $1 billion.
I heard the Tron meme is going to hit $1 billion.
— HE Justin Sun🌞(hiring) (@justinsuntron) September 12, 2024
The idea was met with enthusiasm and many members of the community are now speculating about what meme coins will be responsible for this increase.
In an earlier statement, Sun said community efforts are the backbone of meme coins’ success. Strong and loyal communities are behind meme coins, he said. play a vital role in promoting their growth and value.
He also highlighted that these projects offer fairness and decentralization, creating opportunities for broader participation in cryptocurrency earnings.
This positive sentiment is reflected in the notable activity of whales on the platform. For example, Lookonchain data reports 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.
The move further increased attention on TRON’s meme coins, with open interest in SUNDOG increasing by 50%, according to on-chain analytics firm Coin glass.
Investors are showing increased interest
Additionally, investor interest in TRON-based meme coins has increased significantly, with key tokens seeing substantial gains. In the past week alone, TRON Bull has seen a 117.8% surge, closely followed by SUNDOG with a 58.7% increase.
In addition, MUNCAT and SUNCAT also showed strong performance, increasing by 65.6% and 33.6% respectively. These figures indicate that trust 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 played a key role in this surge, according to a report from late August reportSince its launch on August 9, SunPump has generated more than $1.2 million in revenue.
The platform’s impact was widely felt, with a peak of $2.76 million in daily revenue recorded on August 20. The influx of new meme coins on TRON, backed by SunPump, further fueled market activity.
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