After Billionaire Justin Sun Debuts SunPump, TRON Soars—Could This Be the Beginning of a Meme Coin Rally?
Justin Sun, the silver-tongued millionaire who launched SunPump on #TRON , is now pumping Sundog. Will a fresh meme coin surge soon be here?
It is well known that the introduction of Solana's Pump.Fun has revolutionized the cryptocurrency industry by making it easier for new meme coins to be deployed and by channeling large amounts of newly onboarded funds into the hands of questionable anonymous developers.
Justin Sun, the silver-tongued charlatan everyone loves, has apparently joined the fray with the introduction of SunPump, a TRON counterpart that is completely selfless.
And the Pump as well.Fun clone is quickly becoming popular, and Justin has his sights set on SunDog, a new meme currency.
Sundog has been causing a stir since its premiere on August 15. Its present market valuation ranges from $120 million to $150 million.
The market price of Sundog is $0.1764 right now as it keeps pumping upwards.
This is in response to Justin's encouragement, who has been trying to position SunPump for a stellar launch by using his wealth and influence to drive the remarkable and persistent upward trend.
With a market valuation of $178 million, about 66% of all transactions in the last six hours have been purchases. Buying pressure is still high.
As long as investors have their sights set on breaking out of consolidation and crushing the upward barrier at $0.20, the bullish trajectory should persist.
However, Sundog's liquidity pool only accounts for 0.013 percent of the current market size, which is a reason for worry for some investors.
In addition, the relative strength index (RSI) is showing a severe overbought signal (68.99), suggesting that the price could be about to go lower—though it's worth noting that the RSI can remain overbought for quite some time.
