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The Sundog price jumped 11% in the last 24 hours to trade at $0.05639 as of 6:15 p.m. EST on a 57% surge in trading volume to $35 million
This rise in price comes as Sun.io, a DeFi protocol connected to Tron founder Justin Sun, introduces SunPump, which is a platform enabling users to create meme coins on the Tron blockchain. The new platform aims to compete with the popular Solana equivalent, pump.fun, where transaction fees recently hit a record high of $5.3 million in just 24 hours.
Sundog Price Analysis: Bulls Hold Strong At The Lower Trendline Of A Bearish Pennant
The price movement of the SUNDOG/USD pair on the 30-minute timeframe is confined within a bullish channel, suggesting an upward trend. According to GeckoTerminal data, the price is near this support level at $0.04794, which might be a possible buying opportunity if the price rebounds.
SUNDOG/USD Analysis Source: Dextools.io
The Simple Moving Averages (SMAs) provide further insights. The price is below the 50 SMA, an early signal of short-term bearish momentum. Additionally, the price is near the 200 MA, a critical level often seen as support or resistance. Being below this level generally points to a bearish trend.
Moreover, The Relative Strength Index (RSI) is at 40.55, below the midpoint of 50. This indicates slightly bearish momentum, although it’s not in the oversold territory, suggesting there could still be room for further downward movement. However there is a slight indication that the RSI could rebound and break past the 50 midline level to the overbought zone of 70.
The MACD adds to the bearish sentiment, with the MACD average line crossing below the orange signal line. The red histogram bars are also increasing. This combination suggests short-term bearish pressure.
Sundog Price Prediction
The SUNDOG/USD analysis suggests two possible short-term scenarios: a rebound or a bearish reversal. Traders might consider buying near the current support with a tight stop loss or shorting if the price breaks below the support level. Monitoring these levels is crucial as a breakout could signal a trend change. Currently near the lower boundary of a bullish channel, the price may rebound if support holds, potentially rising to $0.11032.
On the flip side, the key indicators show slight bearish momentum with room for further downward movement before a potential rebound. The RSI is below 50 but above 30, and the MACD shows a bearish crossover. If the price breaks below the support level, the bears could push the price further down to the $0.03930 support or lower.
Final Call: Buy PlayDoge Now Before Its Presale Ends
While excitement around a potential bull rally for SUNDOG builds, investors are turning their attention to Playdoge (PLAY), which has already raised over $6 million in its presale.
This is your last chance to get involved before the presale concludes on Monday, Aug. 26, at 10:00 a.m. UTC. The team has decided to end the fundraising early as they prepare to launch their mobile P2E game ahead of schedule, thanks to faster-than-expected progress in game development.
Analysts and popular YouTuber ClayBro is excited about PlayDoge given its meme coin nature and its inclusion of tokenization. He predicts huge gains after its launch.
The Tamagotchi devices were a huge success, selling tens of millions of units worldwide In the 90s. However, gameplay was limited, often resulting in the digital pets eventually dying and forcing players to restart the game.
🚨 Important Announcement 🚨
PlayDoge’s highly anticipated #Presale ends on Monday, August 26th at 10am UTC! ⏳
Buy $PLAY in final stages now! 💰
👉 https://t.co/JT0VEofqf2 pic.twitter.com/aWQCHxox0H— PlayDoge (@PlayDogeGame) August 16, 2024
The PLAY team plans to modernize the popular Tamagotchi game from the 90s by integrating contemporary blockchain and crypto technology. This updated version will allow players to earn cryptocurrency rewards simply by caring for their virtual pets and ensuring they get enough food, love, and sleep.
After purchasing tokens, investors can lock up their PLAY through the staking page on the project’s website to unlock up to 76% in staking rewards.
You can join the project early by purchasing the token using the buy widget embedded on the project’s website with ETH, BNB, USDT, or a bank card for $0.0053. However, you need to hurry, because the price of PLAY will increase in a little more than a day.
Buy PLAY here to lock in the best deal before its presale ends.
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