SUNDOG Memecoin Skyrockets 100X, SunPump Also Rises!

Bittime - SUNDOG has made another surprise in the crypto market. Memecoins on the Tron network have skyrocketed 100 times. What really happened? Let's discuss it in this article.

In just a few days, SUNDOG's market value skyrocketed from $2 million (Rp. 31 billion) to $200 million (Rp. 3.1 trillion). This drastic surge cannot be separated from the vocal support of Justin Sun, the founder of Tron who is known as one of the influential figures in the blockchain industry.

The Beginning of SUNDOG's Success

SUNDOG's success began after Justin Sun announced the launch of the SunPump platform. The platform is a direct competitor to pump.fun, a popular token generator on the Solana network. Even though many initially doubted it, SunPump actually succeeded in capturing a significant market share from its competitors.

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Based on CoinGecko data, the price of SUNDOG currently stands at $0.2459 (around IDR 3,800), a 48% jump in the last 24 hours. Even though a few days ago the price was still $0.0020 (Rp. 31). This means that the value of this coin has increased 100 times in a short time.

Many observers compare the SUNDOG phenomenon with the success of dogwifhat (WIF), Solana's meme coin which managed to reach a market capitalization of $1 billion (around IDR 15.5 trillion). SUNDOG supporters are optimistic that this Tron coin can repeat similar achievements.

"Speculation that Tron would be better than Avalanche at sucking up liquidity proved to be true. TRX recorded a new record high, and market sentiment has never been better this year," wrote anonymous trader ANBESSA on the X platform.

SunPump Token Also Rises

SUNDOG's success also sparked a surge in the number of new tokens on SunPump. On August 18, less than 6,000 meme coins were listed on the Tron network. Now the number has jumped to 13,815 based on Dune Analytics data.

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If this trend continues, it is possible that liquidity will shift from Solana to Tron. This could trigger an increase in demand for TRX (Tron's native token) and SUNDOG.

However, analysts warn that SUNDOG is now overbought. The one-hour chart shows that SUNDOG price has fallen from its peak of $0.22 (around Rp. 3,410). Technical indicators such as Bollinger Bands and Relative Strength Index (RSI) show correction signals.

If profit-taking increases, the price of SUNDOG could fall to $0.17 (around IDR 2,635) or even $0.14 (around IDR 2,170). However, if buying interest remains strong, the price has the opportunity to test the $0.22 level (around Rp. 3,410) again.

However, investors need to be careful considering the high volatility of meme coins. Always conduct in-depth research and consider the risks before investing in digital assets.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.