On March 19, memecoins based on the Tron network were experiencing a notable surge, with their total market capitalization increasing by nearly 20% within a single day.
Data indicates that Sundog (SUNDOG), the prominent memecoin on the Tron blockchain, saw a rise of 10.3% in the past 24 hours, pushing its market cap to over $61 million. Other significant meme tokens, including TBULL, BULL, and SUNCAT, registered impressive gains of 55%, 43%, and 32.5% respectively.
In contrast, lower-cap memecoins like SUNWUKONG, FOFAR, Dragon Sun (DRGN), and Banana (N) achieved even more remarkable profits, ranging between 85% and 200%.
The overall market cap for Tron memecoins climbed approximately 20% to nearly $97 million, a striking increase particularly when considering that the broader meme coin market fell by 2.8% during the same timeframe.
The primary driver behind these impressive gains appears to be recent initiatives from Tron founder Justin Sun aimed at invigorating meme coin trading on the platform.
On March 19, Sun announced a significant incentive program via a post, promoting zero transaction fees for SunPump meme tokens on the HTX exchange. This promotion began at 5:30 UTC on March 19 and will extend until 15:59 UTC on April 19, 2025.
The current list features established tokens such as SUNWUKONG, TBULL, SUNDOG, FOFAR, SUNCAT, TRONBULL, and MUNCAT, which can be traded against USDT on HTX without any fees.
HTX is also implementing a fast-track listing process for top-ranking SunPump meme tokens. Any meme coin that gains popularity on SunPump through its ranking and trading volume will receive immediate listing privileges on HTX, along with a month of trading without fees upon being listed.
Some of the high-performing tokens on SunPump at present include szn, Darkness, and Dragon Sun, all of which showcased substantial gains and trading volumes, making them potential front-runners for an HTX listing.
Enhancing Tron’s memecoin ecosystem
As previously noted, Sun has promised further support initiatives to bolster TRON’s memecoin ecosystem. In addition to the trading fee exemptions on HTX, TRON will fully cover energy costs related to memecoin transactions, effectively making them free for the next six months.
Additionally, Sun has committed up to $1 million in funding to encourage memecoin developers to create on TRON, providing financial support and priority listings on exchanges such as HTX and Poloniex. He has pledged that he will not personally gain from any memecoins launched on TRON; rather, he intends to donate any profits while assuming responsibility for any potential losses.