As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself intrigued by the meteoric rise of MUNCAT, a meme coin that has managed to steal the spotlight in the crypto market. With a 70% surge over the past day and a market capitalization of over $38.3 million, it’s hard not to take notice.
In simple terms, the recently introduced meme coin called MUNCAT, built on the Tron network, saw a 70% surge within a single day, earning it the title of the biggest winner in the cryptocurrency market.
As I pen this, it appears that the value of MUNCAT is being traded at approximately $0.0402. Remarkably, the daily trade volume has surged by an impressive 737%, reaching roughly $6.98 million, according to CoinGecko’s latest data.
As reported by DEX Tools, MUNCAT’s market capitalization skyrocketed beyond $38.3 million, and its holder count soared over 8,900. The network’s overall activity leaned towards a bullish trend, as evidenced by the significant number of buy transactions that reached 993.
Recently, MUNCAT has experienced a notable rise in popularity due to its successful listing on various cryptocurrency platforms such as HTX, SunSwap v2, and Poloneix. Deposit functionality for MUNCAT was initiated on August 29th, with trading and withdrawal services becoming available the next day, on August 30th.
On the Tron blockchain’s meme coin launchpad, SunPump, a new platform named MUNCAT was unveiled. This unique meme coin has incorporated philanthropy in its functioning; it sets aside a percentage of transaction fees for supporting animal welfare organizations.
Beyond MUNCAT’s achievements, a different digital currency called ROCK has risen as one of the top-performing cryptocurrencies within the SunPump network in recent times. Fueled by rumors that Justin Sun had invested in it, ROCK experienced a significant spike of approximately 100% on August 28, peaking at $0.003375 and securing a market capitalization exceeding $3.3 million.
Currently, information provided by DeFi Llama indicates that the ‘SunPump’ ecosystem now holds a total value of approximately $1.53 million. This figure represents the amount of capital users have committed to this system. Additionally, it has been noted that the annualized fee income within SunPump has surged to an impressive $36.06 million.
This year, token creation platforms have proven to be quite lucrative. Even though many tokens from Pump.fun experienced substantial drops, the overall ecosystem has collected more than $100 million in fees during the last eight months. They make money by levying fees on new token launches and transactions.
Despite the recent partnership with CoinMarketCap, SunPump tokens have persistently fallen in value. This alliance is intended to establish an exclusive support channel specifically for Tron memes. However, CoinGecko, a major competitor of CoinMarketCap, has already introduced a designated page for such meme-based coins.
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2024-08-30 12:28