Big Bet on SUNDOG, Whale Invests $2 Million – Price Rally Coming?

Published by

Zameer Attar

September 13, 2024

The recently launched Tron-based SUNDOG (SUNDOG) has started attracting big whales, resulting in a significant price rally. Following the opening bell of the U.S. stock market a crypto whale withdrew a significant 13.07 million TRX tokens, worth $2 million from Binance and purchased a massive 3.52 million SUNDOGE meme coin in a single transaction, as reported by the on-chain analytic firm Lookonchain.

SUNDOG Price Skyrockets Following Whale $2M Investment

Following this notable investment, the meme coin’s price soared by 27%, from $0.305 to $0.373. At press time, SUNDOG is trading near the $0.362 level and has experienced a price surge of over 20% in the last 24 hours. Meanwhile, its trading volume has skyrocketed by 60% during the same period, indicating higher participation from traders and investors as whale interest in this meme coin grows.

With its impressive performance, SUNDOG’s market cap has increased to $360 million. With continued investment from whales and other investors, it could easily reach a market cap of $1 billion. Additionally, it has become Tron’s biggest flagship meme coin in terms of market capitalization.

SUNDOG’s Bullish On-chain Metrics

On-chain metrics suggest that interest in SUNDOG from investors and traders has skyrocketed. According to the on-chain analytic firm Coinglass, its open interest has increased by 50% in the last 24 hours and 15.6% in the last four hours. Additionally, its open interest has been gradually increasing since its launch, indicating a bullish signal.

As of now, SUNDOGE is available on major cryptocurrency exchanges, including Bybit, KuCoin, MEXC, HTX, and Gate.io. Whereas, Philippines-based Coins.ph also listed the meme coin.

Besides the whale’s recent investment, earlier on August 19, 2024, a crypto whale had invested a massive $450,000 into SUNDOGE. This highlights the potential of SUNDOGE in the coming days.

Also Check Out: Crypto Price Predictions for Q4 2024: Bitcoin and Altcoins Set for a Market Shift?

Zameer Attar

Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

Published by

Zameer Attar