The meme coin market experienced a downturn today, with the overall market capitalization dropping by 2.5% to $38.3 billion. Most meme coins are in the red, with notable losses including LandWolf (WOLF) and PUPS, which fell by 17.8% and 16.6%, respectively. However, a few coins showed gains, with YAWN leading the pack, soaring 114% to $0.003556.
In contrast, Justin Sun’s newly launched SunPump platform has seen significant activity. The DeFi platform on the Tron blockchain, launched on August 13, allows users to create meme coins without coding. Since its launch, nearly 8,000 meme coins have been created, with users spending over 2.7 million TRX (approximately $376,523) to create and trade these tokens. The platform’s busiest day was August 16, when it recorded over 1 million TRX in transactions.
Meanwhile, some major meme coins like Dogecoin (DOGE) and Bonk (BONK) have faced declines, while others, such as TokenFi (TOKEN) and Floki Inu (FLOKI), have shown modest gains. Despite these mixed results, SunPump’s rapid growth signals a growing interest in meme coins on the Tron network, even as the broader market faces challenges.
In related news, coins linked to U.S. political figures Kamala Harris and Donald Trump are also seeing fluctuations. Kamala Horris (KAMA) is down 10.4% today, continuing a downward trend, while TRUMP has seen a slight increase, though it remains down overall for the week and month. Trump’s disclosed crypto holdings and NFT ventures have also drawn attention, with reports indicating he holds $3.6 million in crypto assets, including Ethereum and wrapped ETH.
Powered by Crypto Expert BD
Follow us on Twitter: https://x.com/CryptoExpert_BD
Join our Telegram channel: https://t.me/CryptoExpert_BD