The Tron meme coin SUNDOG has seen a massive surge, increasing 100x in value from $0.002 to $0.20 within just a few days. This growth has been fueled by significant investments and strong support from Tron founder Justin Sun, positioning SUNDOG as a challenger to Solana's dominance in the meme coin market. The coin's market cap has soared from $2 million to $200 million recently, drawing widespread attention.
Justin Sun's involvement has played a key role in SUNDOG's rise, particularly with the launch of SunPump, a platform that has started to capture market share from Solana's similar token generator, pump.fun. Despite initial concerns that the hype might fade quickly, SUNDOG's momentum has continued, with some speculating it could become the first billion-dollar Tron meme coin.
Currently priced at $0.20, SUNDOG has seen a 131% increase in the last 24 hours alone. This rapid rise has led to comparisons with other successful meme coins like WIF. Some traders believe SUNDOG could reach a billion-dollar market cap, especially if liquidity shifts from Solana's meme coins to Tron.
However, there are signs that SUNDOG might be overbought, as indicated by technical indicators like the Bollinger Bands and Relative Strength Index (RSI). The coin's price has recently pulled back from its peak of $0.22, suggesting a possible correction. If profit-taking occurs, the price could drop to $0.17 or $0.14, though renewed buying pressure might push it back up, potentially testing $0.22 again.
