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The Sundog price soared 61% in the last 24 hours to trade at $0.2564 as of 5.10 a.m. EST on trading volume that surged 20% to $66.6 million.
In the past four days, the token has skyrocketed 295%, hitting an ATH when it climbed to $0.2706.
As the Tron network’s first meme coin, Sundog has attracted massive amounts of attention and capital.
The project’s community has been extremely excited and supportive, with many demonstrating a positive outlook on the token’s value in the short and long term.
All the excitement has enabled SUNDOG to surge even as the majority of the market trades in the red.
I’m just gonna put this here and let ya decide wassup with this.
Study the patterns, @justinsuntron and @SUNDOG_TRX will be holding both my hands towards vahalla.
Sun is the limit, see you @ my beach house. pic.twitter.com/hveuFriYMA
— Kuromi (@0xkuromi) August 21, 2024
The bullish outlook even allowed TRON’s native cryptocurrency, TRX, to re-enter the list of the top 10 largest cryptos by market cap.
In the past 24 hours, the coin has been putting more and more distance between its own market cap and that of Cardano, the former 10th largest coin, which has slipped to the 11th spot — all thanks to Sundog and the attention it brought to the TRON network.
Sundog Price Prediction
The Sundog price has seen a major surge in the last day, but its price seemingly encountered strong resistance at $0.28. This barrier stopped the token’s progression and caused a slight correction as of the time of writing.
Now, technical indicators such as Bollinger bands suggest that the token may join the rest of the market and fall under the influence of a bearish wave.
The bands have started narrowing, only slightly for the time being, but the price is no longer stuck to the upper band. Instead, it is currently in the middle, between the two, which is still not an extremely bearish sign, but it suggests that the hype may be over.
This conclusion is backed by the token’s Relative Strength Index (RSI) value, which also dropped from the overbought area and is currently approaching the neutral zone.
This suggests that the buyers have started selling the accumulated tokens, likely to take profit while the price is high, and avoid suffering losses by holding on to the token whose price is about to spiral down.
Sundog could still see a new surge, of course, especially if the traders move in to buy the dip. However, given that the overall market sentiment is currently bearish, it is more likely that the token’s price will fall in line with the rest of them, rather than see a rally of its own.
Promising Alternatives to Sundog
While Sundog has been an excellent opportunity for early investors, its recent struggles may be a signal that the project has reached its limit for the time being.
However, this is not the only opportunity worth considering now. Another meme coin that’s attracting attention is a recently launched ICO known as The Meme Games (MGMES).
It went live shortly before the start of the 2024 Olympics. Known as the Olympic token, the project is not specifically dedicated to this year’s Olympic Games, but rather, to its own version of the ancient event.
Simply put, The Meme Games introduces its own meme Olympics, where five major meme coin entities — Dogecoin, Brett, Pepe, Dogwifhat, and Turbo — are the competing athletes.
Users who join the ICO get to select which of the five they wish to back, and if their chosen athlete wins one of the disciplines, they get a reward for picking the winner that amounts to 25% of their original token purchase.
Users can also change which athlete they support by rejoining the ICO and buying more of the MGMES tokens.
Crypto YouTuber ClayBro, with more than 130k subscribers, recently speculated that it could be a 100x gem.
The ICO has raised over $376k and sells for $0.0093. It can be bought with ETH, BNB, USDT, or credit/debit cards.
Keep in mind that the MGMES token will see a price increase in under four days, and its ICO will end on September 10. Time to invest is running out.
Visit MGMES on the official website here.
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