Tron-based memecoins experienced a significant rally on March 19, with their collective market cap rising nearly 20% in just 24 hours. This surge stands in stark contrast to the broader meme coin market, which saw a 2.8% decline over the same period.
According to CoinGecko data, Sundog (SUNDOG), the largest memecoin on the Tron blockchain, saw a price jump of 10.3%, bringing its market cap to over $61 million. Other major memecoins, including TBULL, BULL, and SUNCAT, also experienced substantial gains, rising by 55%, 43%, and 32.5%, respectively.
Low-cap memecoins such as SUNWUKONG, FOFAR, Dragon Sun (DRGN), and Banana (N) outperformed their larger counterparts, boasting gains between 85% and 200%. As a result, the total market capitalization of Tron memecoins surged to nearly $97 million.
Justin Sun’s Incentive Program Drives Memecoin Trading Activity
The driving force behind this surge appears to be Tron founder Justin Sun’s recent efforts to boost meme coin trading on the Tron network. On March 19, Sun announced a major incentive program on the HTX crypto exchange, offering zero transaction fees for SunPump meme tokens. This initiative, which began on March 19 at 5:30 UTC, will run until April 19, 2025, and is expected to continue to fuel activity in the meme coin market.
The current list of eligible SunPump tokens for fee-free trading on HTX includes SUNWUKONG, TBULL, SUNDOG, FOFAR, SUNCAT, TRONBULL, and MUNCAT, which can be swapped against USDT without incurring any fees.
Additionally, HTX has launched a listing fast-track for high-ranking SunPump meme tokens. Any meme coin that gains significant traction, in terms of ranking and trading volume, on SunPump will be fast-tracked for listing on HTX, along with one month of fee-free trading once listed.
Some of the top-performing tokens on SunPump currently include szn, Darkness, and Dragon Sun, all of which have posted notable gains and trading volumes. These tokens could be strong contenders for an upcoming HTX listing.
Additional Support for Tron Memecoin Ecosystem
Justin Sun has also pledged further measures to strengthen the Tron memecoin ecosystem. In addition to the zero-fee trading initiative on HTX, Tron will cover energy costs for memecoin transactions, making trading completely free for the next six months.
Sun has committed up to $1 million in funding to incentivize memecoin developers to build on the Tron blockchain, offering financial support and prioritized exchange listings on platforms such as HTX and Poloniex.
Notably, Sun emphasized that he would not personally profit from memecoins launched on Tron. Instead, he pledged to donate any proceeds from these tokens while covering any potential losses himself.
This combination of financial backing, exchange incentives, and fee waivers is designed to foster growth within the Tron memecoin ecosystem, positioning it as a strong competitor in the broader crypto market.
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