Meme coins have been scorching hot this year, and now, Tron is attempting to get in on the action. Launching its Sun Pump protocol to initial hype in August, Tron has since taken a sharp tumble. Meanwhile, Raboo ($RABT) has been going from strength to strength, topping $2.4 million in its ongoing presale. Could it reach $1 this year? Read on to find out.
Tron bills itself as “the world’s fastest-growing public chain,” sitting pretty as the 9th most valuable crypto project with a market cap of $13.1 billion. While Tron’s founder, Justin Sun, has been marred in controversy—notably, an SEC accusation of selling unregistered securities and manipulative trading—that hasn’t stopped TRX from almost topping its 2021 highs.
Jumping on the meme coin trend, Justin Sun debuted the Sun Pump protocol in August, aimed at rivaling Solana’s Pump.fun protocol. Sun Pump allows users to easily create and trade meme coins, with more than 78,000 generated since launch and at least $4.6 million in revenue earned.
However, while the initial TRX reaction was positive, rocketing from $0.126 on August 13th—the day Sun Pump was announced—to $0.167 on the 26th, the token has since dropped around 13% to a low of $0.146. This also marks a break of a key support level at $0.147.
Many point to a declining number of tokens being created as a signal that excitement is dropping off. 7,500 tokens were created on August 21st, while just 821 were generated on the 6th of September. While Justin Sun has introduced a 100% on-chain buyback and burn mechanism to stabilize TRX prices, the market’s attention now seems to be drifting toward the new Raboo presale.
While Sun Pump may be losing traction, meme coins are still as hot as ever, evidenced by the Raboo presale. Predicted to be one of the top cryptos of 2024, Raboo is highly innovative, using a proprietary AI tool to offer a new way for users to create memes.
This tool, known as Rabooscan, scours social media for trending memes, allowing users to create, share, and even earn from their meme-making efforts through regular competitions. Much to the growing community’s delight, the Raboo team recently announced they’d be moving on to the AI model development phase after a long data collection process.
Investors also love Raboo’s Post-to-Earn concept, which sees users monetizing their social media feeds alongside upcoming staking pools and an NFT project. The presale reception has been equally as enthusiastic, reaching the 5th stage after raising $2.4+ million from thousands of backers. $RABT is already up 90%, reaching $0.0057, with an expected 143% remaining before hitting the final stage.
Raboo’s focus on building one of the largest meme coin communities in Web3 and its commitment to zero buy or sell taxes have made it a very attractive option for crypto investors. With such strong momentum, experts predict there could be an explosive 100x exchange debut this year, with potential to top $1 over the coming months. Watch out for Raboo—this might just be one of this year’s top cryptos.
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