tl;dr
Solana-based meme coin factory Pump.fun has regained a lead over SunPump in daily token creation. SunPump's token creation and daily active swappers have significantly decreased, while Pump.fun's output has also declined but not as sharply. Tron founder Justin Sun hinted at a "celebrity season" for ...
Pump.fun has regained the lead over SunPump in daily token creation, with SunPump experiencing a significant decline in both token creation and daily active swappers. Tron founder Justin Sun hinted at an upcoming "celebrity season" on the network, with crypto promoter Sahil Arora's involvement with celebrity meme coins and Tron's "celebrity season" plans.
SunPump's token creation and daily active swappers have decreased, while Pump.fun's output has also declined but not as sharply. Tron founder Justin Sun hinted at a "celebrity season" for the network, with Pump.fun having previously launched celebrity meme coins, some by crypto promoter Sahil Arora. Arora has claimed involvement with Tron's past celebrity promotions and highlighted the appeal of celebrities in attracting attention and volume. There were also claims regarding undisclosed paid promotions by celebrities for Tron.
Two weeks after SunPump's dominance, Pump.fun has retaken the lead in daily created coins. SunPump created just 1,258 tokens, falling 83% from 7,531 tokens created two weeks prior. The Tron launchpad's daily active swappers fell from 29,099 on Aug 21 to 6,816 as of Wednesday—a 76.5% decrease. Pump.fun also saw a decline but not as steep as SunPump's. During SunPump's peak, Pump.fun launched 6,941 tokens, while it created 5,824 tokens as SunPump's metrics slipped to statistical lows not seen since the first week of the protocol.
Tron founder Justin Sun posted a tweet hinting at an approaching "celebrity season" on the network, which he claimed would be grander than the Meta Gala. Previously, a number of celebrity meme coins were launched on Pump.fun, including tokens for Caitlyn Jenner, R&B singer Jason Derulo, and rapper Lil Pump, among others, promoted by crypto promoter Sahil Arora. Arora claimed to have worked with Tron in the past, enlisting celebrities such as Lindsay Lohan, R&B singer NeYo, and internet star Jake Paul to promote Tron on social media in 2021.
Arora emphasized the appeal of celebrities in attracting volume and attention, stating that founders often flock towards celebrities for this reason. He emphasized the significant audience appeal and rapid increase in numbers when celebrities are involved. However, he also acknowledged the element of manipulation and the game of timing involved. Celebrities such as tech YouTuber Marques Brownlee, who revealed the paid promotion scheme in a YouTube video, were allegedly involved in undisclosed paid promotions, as noted by both Brownlee and later the SEC.
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Technical Analysis: Unraveling Market Trends
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