On April 9, 2025, Sun Pump – Justin Sun's memecoin launch platform – continued to disappoint with only 9 tokens launched that day, despite a previous massive marketing campaign. While competitor Pump Fun still leads with over 30,000 tokens launched the same day, can Sun Pump recover, or is this a sign that the memecoin wave is gradually fading?


Sun Pump: From Peak to Decline

#SunPump , the memecoin launch platform on the Tron blockchain founded by Justin Sun, once caused a sensation when it launched in August 2024 with thousands of tokens released daily, peaking at 7,500 tokens/day. However, starting from September 2024, the number of tokens launched daily began to drop sharply, reaching alarming lows – just over 10 tokens/day for the next 6 months. By April 8, 2025, Sun Pump only recorded 9 tokens launched, according to data from Dune Analytics (@hashed_official).


To reverse this trend, Justin Sun launched a marketing campaign in March 2025, declaring this to be 'Tron meme szn 👀' (the memecoin season of Tron). This campaign was temporarily effective, with the number of tokens launched increasing to nearly 1,000 on March 19, 2025. However, the growth could not be sustained: by April 8, 2025, the number dropped back below 10 tokens/day, indicating that Sun's efforts could not revive Sun Pump.


Pump Fun Still Leads, But Also Declines

While Sun Pump struggles, their biggest competitor – Pump Fun (system $SOL ) – maintains its leading position. On April 8, 2025, Pump Fun recorded over 30,000 tokens launched, far surpassing Sun Pump. However, Pump Fun is also not immune to the general declining trend in the memecoin market. According to @maditim and @adam_tehc, the daily number of tokens launched by Pump Fun has sharply decreased compared to its peak in November 2024 and January 2025 (around 95,578 tokens/day, according to information from the MELANIA memecoin article).


In terms of revenue, Sun Pump only earned $1,200 on April 8, 2025, while Pump Fun achieved $1.3 million – more than 1,000 times. Since its launch, Sun Pump has earned $5.9 million, while Pump Fun has reached $627 million, showing a significant disparity in operational performance between the two platforms.


Market Context: Memecoins Losing Appeal

The memecoin wave exploded in 2024, with a series of projects like MELANIA (linked to Melania Trump) and LIBRA (related to Argentine President Javier Milei). However, by 2025, most memecoins had sharply decreased in value, influenced by the economic downturn due to the tariffs imposed by President $TRUMP . Tariffs of 10-20% on goods from China (effective from April 2, 2025) have created a cautious sentiment, reducing capital inflows into risky assets like memecoins.


The crypto market in general is also under pressure: market capitalization fell by 11.65% ($2.88 trillion) in Q1/2025, Bitcoin dropped 12% ($84,900, according to previous information), and Ethereum fell 45% ($1,830). Memecoins, which rely on speculative sentiment, are suffering even more. For example, MELANIA memecoin has dropped 96% from its peak of $13 to $0.52 (according to previous articles), reflecting the general depreciation of this type of asset.


Reasons for the Failure of Sun Pump

The decline of Sun Pump can be attributed to several factors:



  • Intense competition: Pump Fun, with its strong Solana ecosystem (DEX volume of $70 billion in Q1/2025), has attracted a large number of investors and memecoin projects thanks to high transaction speed (65,000 TPS) and low fees ($0.00025/transaction). Meanwhile, Tron – despite having low fees – cannot compete in terms of community size and features.


  • Loss of trust in memecoins: After a series of 'pump-dump' incidents (like MELANIA and LIBRA), investors are increasingly wary of memecoins, especially on platforms like Sun Pump, which lacks stringent control mechanisms.


  • Limited marketing effectiveness: Despite Justin Sun – a marketing 'mogul' in the crypto industry – trying to stir up interest with the 'Tron meme szn' campaign, the rapid decline following it shows that investors are no longer interested in memecoins on $TRX .

Impact on the Crypto Market



  • Declining memecoin: The failure of Sun Pump and the downward trend of Pump Fun (even though it still leads) indicate that the memecoin wave is losing its appeal. This may reduce activity on blockchains like Tron and Solana, which rely heavily on memecoins to attract users.


  • Market sentiment: The revenue disparity between Sun Pump ($1,200) and Pump Fun ($1.3 million) reflects an imbalance in the memecoin ecosystem, which could increase pessimistic sentiment in the crypto community.


  • Opportunities for other assets: As memecoins decline, capital may shift towards more stable assets like Bitcoin and Ethereum, or DeFi projects (TVL increased by 50% in 2024, according to DefiLlama).



Conclusion: Has the Memecoin Wave Come to an End?

Justin Sun's Sun Pump, once causing a stir with 7,500 tokens launched daily, has now become a shadow of its former self with only 9 tokens/day on April 8, 2025. The marketing campaign 'Tron meme szn' cannot salvage the situation, while Pump Fun still leads despite also declining. With the memecoin market depreciating sharply and investor sentiment cautious, it seems the memecoin wave is gradually fading, making way for more stable assets. Can Justin Sun find a way to revive Sun Pump, or is this the end of his ambitions in the memecoin space? The answer remains uncertain.


Risk Warning: Investing in memecoins carries extremely high risks due to price volatility and the potential for manipulation. Please consider carefully before participating.