As a seasoned researcher with years of experience tracking digital assets, I must admit that the recent surge in Sundog (SUNDOG) is nothing short of intriguing. The whale’s strategic move to exchange $2 million worth of Tron (TRX) for SUNDOG, as seen on Lookonchain, has undeniably sparked a fire under this meme coin.
As an analyst, I’ve noticed an intriguing surge in the value of Sundog, a meme coin on the Tron network. This sudden rise can be attributed to a significant purchase made by a ‘whale’, who snapped up approximately $2 million worth of this token.
Based on Lookonchain’s report, on September 12th, a significant investor (often referred to as a “whale”) sold their Tron (TRX) tokens and used the resulting $2 million to purchase the rapidly increasing meme coin, Sundog (SUNDOG). This information was gathered from the analytics platform. Specifically, the whale withdrew 13.07 million TRX from Binance and, in a single transaction, obtained 3.52 million SUNDOG.
Just a moment ago, a whale transferred approximately 13.07 million dollars worth of SCRT (around 2 million units) out of Binance and immediately purchased around 3.52 million Sundog tokens in a single transaction!
— Lookonchain (@lookonchain) September 12, 2024
SUNDOG price spikes sharply
As an analyst, I observed a significant increase in the value of the SUNDOG token post a specific transaction. The token’s price escalated from $0.30 to $0.35, representing a 25% growth over the previous 24 hours. At the time of my analysis, the token was hovering just beneath its recently established all-time high, with its value experiencing a notable spike.
In the midst of rising prices, the market value of this meme coin soared beyond $350 million. At the same time, its daily trading volume jumped by 32%, reaching an impressive $198 million.
As an analyst, I’m currently observing that SUNDOG is leading the meme coin category in Tron’s market by capitalization. This coin just made its debut less than a month ago, specifically on August 15, and has experienced remarkable growth of approximately 770% since it hit an all-time low of $0.039 on August 16.
Exchanges list SUNDOG
The successful launch of Justin Sun and SunPump, along with the excitement generated by the meme coin launchpad’s debut, significantly contributed to Sundog gaining popularity.
Additionally, Sundog has been prominently featured on significant trading platforms such as MEXC, Bybit, Gate.io, and KuCoin. In recent times, it’s also been made available on the Philippines’ leading crypto exchange, Coins.ph, as well as HTX and RabbitX, a popular trading app.
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2024-09-12 21:16