Is SunPump Losing Steam? Onchain Metrics Shows Major Drop

The excitement surrounding Tron blockchain’s meme coin launchpad, SunPump, seems to be waning after weeks of mainstream attention, despite ongoing efforts from Tron founder Justin Sun.

SunPump’s debut marked the start of market competition with Solana blockchain’s Pump.fun, as both platforms aim to dominate the meme coin launchpad space.

SunPump Platform’s Glory Days Fade

After making headlines throughout August with key milestones, developments, and token launches, SunPump’s momentum appears to be fading. Dune Analytics data shows that Solana’s Pump.fun has deployed more than six times the number of tokens compared to SunPump in the last 24 hours.

Additionally, Pump.fun’s revenue is nearly eight times higher than SunPump’s during the same period. Solana’s launchpad also outperformed in terms of new and active addresses, with 29,873 and 59,331, respectively, compared to SunPump’s 2,134 and 6,538. These figures suggest Pump.fun is regaining its dominance as the hype around SunPump diminishes.

Read more: What Is TRON (TRX) and How Does It Work?

BeInCrypto reported several key achievements for SunPump, including fee cuts and Tron’s implementation of a 100% buyback and burn process. These milestones, supported by Justin Sun’s bullish commentary, kept the platform in the spotlight among meme coin traders and enthusiasts.

However, the outlook is shifting. Santiment data shows a significant decline in Tron’s (TRX) metrics, with a 70% drop in TRX social dominance and an 83% drop in TRX social volume since August 21, indicating waning interest in the platform.

In a recent development, Sun hinted at a potential collaboration with Australian rapper Iggy Azalea. The speculation followed a post by BullBnB, which encouraged a partnership between the two.

“I think Iggy Azalea and Justin Sun should join forces. She is the only celeb working hard for her meme. Dedicated and persistent. MOTHER is the only token I keep buying on dips. After all whatever doesn’t kill you only makes you stronger,” BullBnB wrote.

In response, Iggy Azalea called on Sun for ideas. Meanwhile, the rapper has independently launched her own meme coin, Mother Iggy (MOTHER), with plans to build trust and integrity in the space.

Read more: Crypto Scam Projects: How To Spot Fake Tokens

A collaboration between Justin Sun and Iggy Azalea could certainly generate buzz, though it remains uncertain whether it will materialize. One user has already proposed a MOTHER NFT project on the Tron blockchain, envisioning a unique fan experience.

“MOTHER NFT Project on TRON for each concert venue/location/country you at. Users get to use the NFT for entry to the concert. The more expensive the NFT the higher the level of access in seating or VIP areas will be. Just some ideas to start your TRON journey with Justin,” the user wrote.

Justin Sun also hinted at bringing celebrity meme coins to the Tron blockchain, with Iggy Azalea likely to be the first candidate. This potential move could mark the beginning of a new trend for celebrity-driven meme coins on the platform.