Apart from Ethereum, Bitcoin, and even well-known joke currencies like Dogecoin and Shiba Inu, one cryptocurrency has taken the internet by surprise by gaining 100X in value. When investors' fear-based sentiments are hurting the whole cryptocurrency market, it becomes increasingly important. While many cryptocurrencies are facing similar difficulties and the price of Bitcoin is battling to reach $60K, top altcoins like SUNDOG, PEPE, and XRP are experiencing significant growth. Since its introduction, this SUNDOG has been one of the most lucrative cryptocurrencies.
With 100X Gains, the New Altcoin SUNDOG Rocks the Market
Because of the increased interest in the TRON-themed coins, SUNDOG is a hot topic.
After investors started making large gains on the recently released tokens, particularly on Justin Sun's SunPump platform, this demand increased. Investors were shocked when one such TRON trader won $7.5 million from less than $300.
These occurrences are what gave rise to the buzz around the recently released meme cryptos, such as SUNDOG. As of this writing, the price of SUNDOG has increased by 420% over the previous 30 days to $0.3395. Its performance has not declined, sustaining the 62% and 11% increases on the weekly and daily charts.
Furthermore, according to CoinmarketCap, it now ranks as the 209th most valuable cryptocurrency on the market with a planet valuation of $344,759,215.
Furthermore, a 23% increase in its trading volume to $198,191,791 suggests that investors are becoming more interested in the coin.
These investors' interest in the token is what's causing the significant increase in the price of SUNDOG. A crypto whale just purchased 3.52 million SUNDOG for $1.07 million TRX, or $2 million. Such massive whale purchases frequently entice more investors to follow suit. Additionally, the Sunpump platform's ongoing development is helping with this; most recently, it introduced the SUNBOT trading bot, which allows users to purchase TRON meme currencies on Telegram.
Not to mention, $10 billion has been given by SUN to the meme ecosystem boost incentive scheme, which is driving up the price of altcoins.
Price Battles For Shiba Inus And Dogecoin In spite of High Demand
The largest rival to Dogecoin (DOGE), the king of meme-based cryptocurrencies, is Shiba Inu (SHIB). This strong demand is a result of these two having the largest market shares for memes and a track record of significant increases. Still, given the state of the market, these two are not the most lucrative assets.
However, that does not imply that these two are completely lost because their community and other support networks have been there for them during the years of their dominance. The DOGE price is currently at $0.1051, up over 4% from earlier today.
Simultaneously, the SHIB has surged by 2.25% today and 5% this week, landing at $ 0.00001357. Furthermore, according to Krao experts, the Shiba Inu will eventually break $0.001.
Even said, Dogecoin and Shiba Inu have significantly depreciated from their respective all-time highs of $0.7376 and $0.00008845. Furthermore, their recent gains pale in comparison to their periods of greatest performance and market expectations. Consequently, a lot of investors have moved their money from these assets to recently released ones, such as the cryptocurrency with 100x described previously.