Telegram Meme Coins Threaten to Break Ton Network

Telegram meme coins have been in the spotlight for a while due to the overly successful mini-Apps technology on the messaging platform.

Telegram meme coins have been grabbing the attention of traders for a while now, thanks to the wildly successful mini-Apps technology on the messaging platform. In recent days, Tron (TRX) and Ton (TON) have been sharing the spotlight with their meme coins—Sun Token (SUN), Dogs (DOGS), and Notcoin (NOT)—while the Solana hype has been drastically reduced as volume shifted to these two chains. However, Solana may have found robust support and could rebound soon.

Telegram Meme Coins Threaten to Break Ton Network

On Aug. 26, a Telegram mini-app coin, known as DOGS, launched on the Ton blockchain. While the launch was successful, it left the network in tatters as congestion caused transactions to get stuck.

According to Ton Stat, the image on the left shows a normal day on the Ton blockchain, while the one on the right is during the launch of DOGS. The white vertical lines here indicate all the issues and delays (latency) experienced while using TON-related services during the launch.

Eventually, the Ton Foundation had to ask validators to restart their nodes with certain flags to re-establish consensus and temporarily suspend deposits and withdrawals to and from crypto exchanges.

In related news, the launch of Notcoin in May led to a more than 40% increase in the price of TON, although in terms of network congestion, NOT was relatively easy on the main chain.

Following the launch, the price of DOGS stagnated as the market awaited news on the release of Telegram founder Pavel Durov, who was detained in France.

On Aug. 28, the price of DOGS experienced a slight spike after reports of Durov’s release surfaced in the crypto X space. However, once it became clear that he would face official charges, DOGS entered a consolidation phase, fluctuating between $0.0016 and $0.0014.

The price of NOT has taken a beating over the last few months. After launch, the airdrop claimers cashed out heavily, decreasing the token price. However, a marketing stunt by the team caused the token to surge in price, peaking at $0.0233. Since then, NOT has been dropping and is down 62%.

SUN Price Overshadows Pump.Fun From Solana

Apart from the Telegram meme coins, SUN from SunPump, the Tron version of Solana’s Pump.fun, also stole the show from Solana. According to data from Dune Analytics, SunPump briefly overtook Pump.fun on Aug. 21, generating $585,000 in revenue compared to Pump.fun’s $366,000.

Solana, however, remained the top destination chain for meme coins since Aug. 29, generating $458,000 in revenue from 7,860 new tokens created on the platform. In comparison, SunPump saw 4,562 tokens launched, constituting $295,000 in revenue during the same duration.

The price of SUN began to surge on Aug. 14 after Tron founder Justin Sun posted it on his X account, showing support for it. Over the next seven days, SUN skyrocketed by over 170%, peaking at $0.043 before starting to correct.

The price of SUN is currently trading at $0.03118, up 4% in the last 24 hours, and has also found strong support around this price.

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