Tokens in the SunPump ecosystem have experienced a notable decline, mirroring a similar downturn in the Pump.fun ecosystem.

On Aug. 22, the Sundog token dropped by over 7%, reducing its market cap to $215 million. Other tokens in the ecosystem faced steeper declines, with FoFar, Suncat, and several others plunging by over 40% during the same period. These declines occurred as the total market cap of all tokens in the SunPump ecosystem reached $268 million, just a week after its launch.

According to data, the total value locked in the SunPump ecosystem has climbed to $1.3 million, with the annualized fee income rising to $4.12 million. Token generation platforms have proven to be highly profitable this year. Despite the sharp drops in most Pump.fun tokens, the ecosystem has generated nearly $100 million in fees over the past eight months. These platforms earn fees by charging for token launches and transactions.

SunPump tokens declined even after the network announced a partnership with CoinMarketCap. This collaboration will introduce a new dedicated express support channel for Tron memes. CoinGecko, CoinMarketCap’s closest competitor, has already launched a dedicated page for these memes.

🚀 Exciting news! #SunPump and @CoinMarketCap are teaming up in an Ecosystem Partnership! 🎉 With this collaboration, CMC will offer a dedicated express support channel for #TRON memes 🥳 Get ready for more visibility and support for your memes! 🌟

Justin Sun, the founder of Tron, hopes that the meme coins within the ecosystem will boost Tron’s network similarly to how they have energized the Solana blockchain. Meme coins have helped turn Solana into the second-biggest blockchain for Decentralized Exchanges after Ethereum. It has a market dominance of 22.2% while Tron has 0.86%.

There are signs that this growth is working as the volume handled in Sun DEX has risen by 332% in the past 7 days to over $543 million. These tokens could benefit if there is a new crypto bull run, which will only happen if Bitcoin rises above the all-time high of $73,800.

For more updates and news on the cryptocurrency market, visit Global Crypto News.

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