TRON Soars Thanks to Justin Sun’s SunPump Launch – Is the Next Memcoin Rally About to Begin?
Date: 2024-08-21 Author: Henry Casey Categories: CRYPTO PAYMENTS
The launch of Solana Pump.Fun previously changed the paradigm of the crypto market by removing many barriers to creating new memecoins and attracting significant capital to anonymous developers. Now, Sun, known for his loud statements and ambitious projects, is launching a similar project on TRON called SunPump.
SunPump and Sundog: The Next Memcoin Blow
With the launch of SunPump on TRON, Justin Sun has already set his sights on promoting a new memecoin called Sundog. The token was launched on August 15th and has quickly gained popularity, reaching a market cap of between $120 million and $150 million.
SUNDOG Price Analysis: The New Memcoin With a 9 Figure Market Cap
Sundog is currently trading at $0.1764, up 120% in the last 24 hours. Justin Sun’s support and efforts to strengthen SunPump’s position in the market are contributing to this impressive growth.
Sundog’s market cap has already reached $178 million, and buying pressure remains high, accounting for about 66% of all transactions in the last six hours. This suggests that the bullish trend could continue if the token breaks the resistance at $0.20.
However, low liquidity is a concern for some investors, as Sundog’s liquid pool is only 0.013% of its current market cap. The Relative Strength Index (RSI) is also overbought (68.99), which could indicate a possible correction in the future.
Will Sundog Be the Memcoin Leader in September?
While Sundog has been performing well, its long-term sustainability remains questionable, especially with potential profit-taking by current holders. With 11.5k holders already taking profits, selling pressure could increase.
However, for those looking for new opportunities, the current market may present an opportunity to position themselves ahead of the expected memecoin rally. One such promising opportunity is the Pepe Unchained (PEPU) token pre-sale, which has already raised around $10 million.
The PEPU project aims to modernize Pepecoin and Frogcoins by offering a fast and low-cost Layer-2 solution similar to Shibarium. This could be an important innovation for PEPE, especially with the growing popularity of low-cost solutions like Pump.Fun and SunPump.
As such, the current market offers many interesting investment opportunities, and the chance to participate in the next memecoin rally should not be missed.
