TRON’s Meme Market Struggles to Compete with Ethereum and Solana

• TRON’s meme token market struggles to compete with Ethereum and Solana, as it fails to attract developer interest and suffers from low liquidity.
• TRON’s Sun Pump platform, intended to drive meme token adoption, has seen limited success, with major exchanges showing little interest in TRON-based tokens.

Despite the buying frenzy on Ethereum and Solana, TRON (TRX) has lagged in the meme token space, unable to attract the same level of developer interest. As predicted in a recent CNF post, TRON’s Meme Strategy might Propel TRX to $0.30. Currently, the launch of the Sun Pump platform aimed to capitalize on this trend, but it fell short, failing to entice developers and users.

In contrast, platforms like Pump.fun have seen daily all-time high token launches, while TRON’s meme token market remains sluggish. Valued at only $350M, TRON-based meme tokens pale in comparison to their counterparts on other chains, such as Solana, where newly launched tokens quickly gain higher market capitalizations.

Previously, CNF also  reported the launch of the JUST Foundation on TRON’s oracle service platform, JustLink, to compete with Chainlink (LINK). This hints at TRON’s attempts to emulate successful models from other chains, though they have been hampered by liquidity already locked elsewhere, making TRON-based tokens too risky for many traders. It remains an ongoing investigation as TRON’s meme market struggles to compete with Ethereum and Solana.

While Sun Pump saw some success with 90K launches, its growth was very modest, and existing tokens on the platform are now struggling with low turnover and little interest from major exchanges like Binance.

TRON’s Future Bet on Meme Tokens

TRON has historically tried to keep pace with trends in the crypto space, adopting games, NFTs, DeFi, and meme tokens, all closely tied to Justin Sun’s promotion. However, these associations have raised doubts about the organic growth potential of the TRON ecosystem.

The Sun Pump platform, intended to drive adoption, has seen limited success, with only SunDog achieving a valuation over $100M, far below the meteoric rise of tokens on other platforms. According to CoinMarketCap data, TRON (TRX) is currently trading at $0.159, with a decrease of 0.76% in the past day and 0.25% in the past week.