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As we approach September 2024, the crypto market continues to experience volatility. Many are eagerly awaiting a new narrative to drive the market into a renewed frenzy, and this time, the focus is on Memecoins. Following the explosive popularity of DOGE, SHIB, and other Memes in the last bull market, the first half of 2024 saw the rise of new competitors in the sector like BOME and SLERF on the Solana blockchain, continuing the Meme legacy.
Recently, Memecoins in the TON and TRON ecosystems have once again stirred the market, attracting widespread attention. This article will explore the hot Memes that have emerged recently and analyze the market trends behind them.
The Rise of TRON: SunPump Leading a New Trend
Compared to established Meme ecosystems like Ethereum and Solana, the Meme market on TRON has emerged as a dark horse this summer. In August 2024, the SunPump platform, launched by TRON’s decentralized exchange SUN.IO, officially went live, becoming the first Memecoin fair launch platform within the TRON ecosystem.
Since its launch, the platform has quickly amassed a large user base and significant liquidity. Notably, SUNDOG achieved a market capitalization of over $1 billion within just three days, with a thousands-fold increase in value, making it an undisputed star project.
The rise of SunPump is not accidental. The platform significantly lowered the entry barrier for launching Memecoins through its one-click issuance feature, while also adopting a bonding curve pricing model to ensure fairness and transparency in token prices. Justin Sun stated that SunPump aims to provide users with a fair, safe, and low-cost Memecoin launch and trading experience, which has been a key factor in TRON’s prominence in the Meme market.
Moreover, TRON’s stablecoin market has provided a solid foundation for the circulation of Memecoins. To date, the issuance of stablecoins on the TRON blockchain has exceeded $60 billion, making it one of the largest stablecoin networks globally. This advantage gives Memecoins on TRON high liquidity and market recognition, drawing the attention of numerous investors.
Memes on TON: Airdrop Frenzy
Currently, the TON ecosystem is experiencing a surge in popularity. Following the breakout success of zero-cost mining project Notcoin, many “click-to-earn” mini-games have emerged within the TON ecosystem, allowing users to earn points and receive airdrops by simply clicking their mouse, attracting a large amount of traffic and generating high expectations for future airdrops.
Recently, the Meme project DOGS within the TON ecosystem announced an airdrop open to all Telegram users, with the number of points earned based on account registration duration and activity level. After the airdrop eligibility was announced, users could continue to earn points by checking in and completing tasks, with points corresponding to the number of airdrops received.
In the coming days, DOGS will be listed on multiple major CEXs, with all platforms focusing on acquiring new users and driving traffic.
As the second Meme project on TON to get listed, this marks another celebration of the Meme culture.
A New Phase for the Memecoin Market: From Frenzy to Rationality
Compared to previous years, the Memecoin market in 2024 has entered a new phase. Although many new projects have emerged, not all can succeed. Public blockchains such as Solana, TON, and TRON, with their technological innovations and ecosystem support, have enabled Memecoin projects within their ecosystems to stand out in a highly competitive market.
However, as the market matures, investors are also demanding higher standards of quality and sustainability from projects. In the future, the Memecoin market may further diverge, with projects that have long-term development potential gaining a firm foothold, while those of lower quality may gradually be eliminated by the market.
In the 2024 crypto market, Memecoins are undoubtedly one of the most significant narratives. As the market continues to mature and new innovations emerge, the future Memecoin market will become more diverse and regulated. In this new wealth-building opportunity, those who can seize the moment may become the creators of the next “thousand-fold Meme”.
Note: This article does not constitute investment advice.
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