Tron-Based Meme Coin SUNDOG (SUNDOG) Attracts Whales, Resulting in a Significant Price Rally

The recently launched Tron-based SUNDOG (SUNDOG) has started attracting big whales, resulting in a significant price rally.

A Tron-based meme coin called SUNDOGE (SUNDOGE) has recently garnered attention from crypto whales, leading to a substantial price rally. Following the opening bell of the U.S. stock market on August 20, a crypto whale withdrew 13.07 million TRX tokens, valued at $2 million, from Binance, and used a portion of it to purchase 3.52 million SUNDOGE meme coin in a single transaction, according to the on-chain analytic firm Lookonchain.

A whale withdrew 13.07M $TRX($2M) from #Binance and bought 3.52M $SUNDOG in one transaction just now!https://t.co/XP5whshQPU pic.twitter.com/WggzVWxDz9

This large-scale SUNDOGE purchase resulted in a 27% increase in the meme coin’s price, rising from $0.305 to $0.373. At press time, SUNDOGE is trading around the $0.362 level, showing a price surge of over 20% in the last 24 hours. Its trading volume has also seen a significant increase of 60% during the same period, indicating higher participation from traders and investors.

With its impressive performance, SUNDOGE's market cap now stands at $360 million. Considering the continuous investment from whales and other investors, it could easily reach a market cap of $1 billion. Moreover, it has become Tron's biggest flagship meme coin in terms of market capitalization.

Interest in SUNDOGE from investors and traders has skyrocketed, which is evident from the on-chain metrics. According to the on-chain analytic firm Coinglass, SUNDOGE’s open interest has increased by 50% in the last 24 hours and 15.6% in the last four hours. Notably, its open interest has been gradually increasing since its launch, suggesting a bullish signal.

SUNDOGE is currently available on major cryptocurrency exchanges such as Bybit, KuCoin, MEXC, HTX, and Gate.io. Additionally, the Philippines-based exchange Coins.ph has also listed the meme coin.

Previously, on August 19, 2024, a crypto whale had also invested a massive $450,000 in SUNDOGE, showcasing the potential of this meme coin in the coming days.

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