SunPump: The First-Ever Meme Fair Launch Platform on #TRON, Is Now LIVE in Beta

Justin Sun has announced via the X platform that the Tron Network will welcome a new memecoin season through SunPump. Sunpump is a meme fair

Justin Sun has announced the arrival of a new memecoin season on the Tron Network via the launch of SunPump.

SunPump is a meme fair launch platform on the Tron network, powered by SUN.io decentralized exchange (DEX). Currently in its beta phase, users will be able to enjoy up to 99% reduction in gas fees.

The platform has also outlined several rules to ensure fair play and prevent predatory trading practices. According to the official blog post, “All token contracts are secure and verifiable, with no pre-sales or team allocations.”

This new project is expected to be a major boost to the Tron Ecosystem, and will also play a role in accelerating the TRX burn rate.

According to SunPump, meme coin projects that reach a market cap of $69,420 will be required to burn $12,000 worth of TRX via the platform.

This mechanism will not only help reduce the circulating supply of TRX, but will also add an element of scarcity, which will drive its demand and the token’s value over time.

SunPump is set to boost on-chain activity in a big way on the Tron network.

It is worth noting that the Tron network has had a remarkably positive first half-year. As CNF reported earlier, the Tron network experienced a surge in Onchain activity.

Moreover, daily new addresses grew by 12%, from 177,200 to 198,000, for three consecutive quarters, starting Q4 last year.

With the addition of SunPump, the Tron network is going beast mode.

TRX Price Analysis

At the time of writing, TRX, Tron’s native token, is trading at $0.1272, and has seen a 0.08% decrease in the last 24 hours.

Meanwhile, the token has surged 3.42% over the past week, and now has a market cap of around $11.0 billion.

Taking a look at Tron’s technical analysis, TRX’s price has shown a strong correlation with major cryptocurrencies such as the King of Crypto, Bitcoin, and Ethereum in recent times.

Further indicators have pointed towards an oncoming bullish sentiment, and precisely last week TRX closed on a dragonfly Doji candlestick, which indicates that bullish sentiment is on the rise.

If TRX is able to break through the current resistance level of $0.13, the altcoin could be poised to retest its all-time high in the near term.

Following the success of Solana memecoins, the launch of SunPump will mark a pivotal moment for Tron as it looks to cement its place as a leading future of agreements blockchain.