Sundog, a meme cryptocurrency on the Tron network, has experienced a significant price surge after a whale purchased $2 million worth of the token.
As reported by Lookonchain, on September 12, a whale liquidated their Tron (TRX) holdings and reinvested the proceeds into the rapidly increasing meme coin. The analytics platform noted that the whale withdrew 13.07 million TRX, totaling $2 million from Binance, and subsequently acquired 3.52 million Sundog (SUNDOG) in a single transaction.
SUNDOG price experiences a sharp rise
The price of the SUNDOG token soared following the whale’s transaction, climbing significantly from lows of $0.30 to $0.35. At the time of writing, the token had recorded a remarkable 24-hour gain of 25%. Its price neared a new all-time high as it began to skyrocket.
In conjunction with the price increase, the market capitalization of the meme coin surged past $350 million, while daily trading volume rose by 32%, exceeding $198 million.
Currently, SUNDOG holds the title of Tron’s leading meme coin by market cap. It was launched less than a month ago, on August 15, and has shown explosive growth of 770% from its low of $0.039 on August 16.
Exchanges begin to list SUNDOG
The momentum for Sundog can be attributed to Justin Sun and SunPump’s launch, which generated considerable excitement for the meme coin launchpad.
Sundog has been actively listed on prominent exchanges, such as MEXC, Bybit, Gate.io, and KuCoin. In the last 24 hours, SUNDOG has also been added to Coins.ph, the Philippines’ largest cryptocurrency exchange, along with HTX and the trading app RabbitX.
