Is this why Tron (TRX) took advantage of the 3-year peak above $0.165?

Tron is currently seeing historic levels of trader interest against the backdrop of a recently launched meme coin deployer and a price bomb.

According to Santiment, TRX has become the main trending asset in the crypto market, driven by the debut of – SunPump – on August 12th.

Tron’s Meme Coin Boom

Since launch, more than 7,000 new coins have been created, helping to fuel interest in the blockchain-native token. As a result, TRX’s market price soared 22%, briefly approaching $0.17. This increase has fueled long-term optimism, with analysts predicting bullish momentum in the medium term despite short-term volatility, according to Santiment’s latest analysis.

Increased activity on the Tron network, especially in meme coin launches, has led to an increase in TRX burns, reflecting increased demand and reduced supply. The platform’s growing status as a hub for meme coins, exemplified by the popularity of tokens like SUNDOG, has drawn parallels with past meme seasons that saw massive price increases.

In addition, ongoing developments and partnerships, including collaborations with hedge funds, are expected to increase the visibility and trading volume of Tron-based tokens. Santiment also noted that Tron founder Justin Sun’s influence and reputation further boost investor confidence, boosting the project’s growth potential.

SunPump’s growth trajectory

Data compiled by Dune Analytics revealed that SunPump has generated more than $1.14 million in revenue since its launch. On August 20, Sun shared on X that the platform went offline due to overwhelming traffic, prompting developers to ramp up operations to quickly restore service. The rig was back online within an hour.

That same day, SunPump recorded its highest earnings to date, earning almost 2.78 million TRX.

Despite the backlash from this year’s resurgence of meme coins and subsequent scams and scams, Sun remains bullish on meme coins, saying he believes the success of these tokens is “not a fluke.”

“When every developer can build a community through a fair launch, get everyone’s support, and foster enthusiasm and loyalty, the community can share in the success of cryptocurrency. Who would still pay for tokens with absurd valuations inflated by VCs in billions of dollars? Even the smallest growth of a meme token brings joy and satisfaction to everyone because, with a community and decentralization, you have it all.”

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