Is It the Right Time to Invest in Tron (TRX) and SUNDOG (SUNDOG) Crypto Tokens?

The Tron Network has gained significant attention within the crypto space over the past few days. This has resulted in it outperforming all the top tokens within a shorter time frame. Notably, with a market capitalization of $12.776 Billion, it has secured the title of the 10th largest cryptocurrency.

The Tron (TRX) Network has attracted immense attention in the crypto space recently, outperforming all the top tokens in a shorter time frame. It has now secured the title of the 10th largest cryptocurrency with a market capitalization of $12.776 Billion.

In line with this Tron (TRX) price action, TRX-based altcoins have also recorded a similar price action with a significant surge in their respective portfolios over the past few days. Considering the present market sentiments, is this the right time to invest in the Tron ecosystem?

Continue reading as, in this article, we have covered the market sentiments, price action, and possible short-lived price targets of the Tron (TRX) and SUNDOG crypto tokens.

Tron (TRX) Price Action

The TRX price has displayed a bullish price action by adding 6.83% to its portfolio in the past day with a trading volume of $778.23 Million. It has jumped approximately 16% in the past week and has recorded a YTD return of 36.43%.

The EMA 50-day acts as a support to the Tron price chart, indicating a strong bullish sentiment for the altcoin in the cryptocurrency space.

A closer look at the TRX price chart in the 1D time frame on TradingView reveals that the Relative Strength Index (RSI) has breached its overbought range, highlighting an increase in the buying-over-selling pressure in the crypto space. Moreover, the average trendline records a bullish curve, suggesting that the altcoin will continue gaining value this week.

If the market holds the TRX price above its support level of $0.1450, the bulls will prepare to test its upper resistance level of $0.160 during the upcoming weeks. Conversely, a bearish reversal could pull the altcoin toward its lower support level of $0.1275 this month.

SUNDOG (SUNDOG) Price Action

Built on the Tron chain, this meme coin made its first appearance in the crypto market on 15th August through the Bitget cryptocurrency exchange. Following the release, this meme coin instantly gained steam from investors, resulting in it recording a massive price surge.

The meme coin has surged 121.36% in the past day with a trading volume of $59.942 Million, a change of +59.62%. It recorded an All-time Low (ATL) of $0.04197 on 18th August (2 days ago) and has surged over 290% since then.

Today's @sunpumpmeme traffic is 100% higher than yesterday, but we are fully prepared and confident that we can resolve any issues. There won't be any problems with our service today. If you encounter any issues, feel free to report them here at any time! TO THE SUN! ?

On the other hand, the founder of Tron Network, Justin Sun, has been constantly mentioning the fundamentals and activity of the SunPump memecoin since yesterday. This highlights a strong bullish sentiment and a positive outlook for this crypto token in the coming time.

With a trading price of $0.1665 and a circulating supply of 1 Billion SUNDOG tokens, this meme coin has secured the 243rd position in the global crypto list with a market capitalization of $165.332 Million.

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