Dumb Money: Tron Meme Coin SUNDOG Skyrockets 100X, Challenging Solana’s Dominance
SUNDOG, a meme coin on the Tron blockchain, surged 100x from $0.002 to $0.20 in days, fueled by Justin Sun's backing. Its market cap jumped from $2 million to $200 million, overshadowing Solana's meme coins.
Justin Sun's SunPump launch has boosted SUNDOG's popularity, with the token possibly becoming the first billion-dollar Tron meme coin. SUNDOG’s price recently hit $0.20, a 131% increase in 24 hours. Some believe it could replicate the success of dogwifhat (WIF) if liquidity shifts from Solana to Tron.
However, SUNDOG is now overbought, with indicators suggesting a potential pullback to $0.17 or $0.14. Yet, increased buying pressure could see it retest $0.22.
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