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The Sun Token price (SUN) dropped more than 8% in the last 24 hours after Tron founder Justin Sun announced a 100% on-chain buyback and burns program for meme coin launchpad SunPump. Following the steep price drop, SUN traded at $0.03121 as of 8:40 a.m. EST. Despite the pullback, the crypto is still in the green by more than 291% on the monthly time frame, according to CoinMarketCap data . Justin Sun Announces Buyback And Burn Initiative For SunPump Sun announced that the Tron meme coin community has decided to implement a 100% buyback and burn program for SunPump . This decision follows a discussion within the community that moved away from initial intentions to burn tokens from liquidity pools, according to the Tron founder. Regarding the issue of revenue buyback and burning for @sunpumpmeme , the community previously suggested burning liquidity LP tokens because this approach is used by mainstream meme tokens like SHIB. Burning LP tokens has several advantages, including incr...

The Sun price surged 40% in the last 24 hours to trade at $0.02412 as of 3 a.m. EST on trading volume that skyrocketed 59% to $413.2 million. The token saw a 160% surge in the last seven days as the Tron network’s SunPump meme coin launchpad exploded. SunPump outpaced Solana’s Pump.fun platform in activity and revenue over the past 24 hours. Sun Price Prediction The SUN price surge has seemingly reached its limit earlier today after the token hit the resistance at $0.025. It has made several attempts to breach this barrier in the last 24 hours, only for each of them to end up being unsuccessful, and result in a price rejection. Right now, the token is seeing a correction that has taken its price to $0.02412, and for the moment, it continues to drop. However, the project’s Bollinger bands have started widening again, which is a bullish signal, especially when combined with its RSI. The RSI, or Relative Strength Index, is a metric that shows whe...

A decentralized finance protocol by the name of Sun.io, which is linked to Tron founder Justin Sun, has launched a Tron meme coin creation platform called SunPump. The platform will allow users to create meme coins on the Tron blockchain, which will put it in direct competition with the Solana meme coin launchpad Pump.fun . SunPump To Address Rug Pull Concerns Although meme coins are often launched as a joke, there are multiple examples of these light-hearted projects climbing the crypto ranks to establish a name for themselves in the nascent crypto space. Altcoins such as Shiba Inu (SHIB), Pepe (PEPE) and Dogwifhat (WIF) have all risen on the charts after building a loyal following. Platforms such as Pump.fun have made it relatively simple and cheap for anyone to create their own meme coin. This has subsequently made it a lot easier for bad actors to enter the market and rug pull tokens after investors have bought into the cryptos. The Sun.io team aims to address this, and said ...