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The Sundog price dropped 13% in the last 24 hours to trade at $0.2323 as of 4.40 a.m. EST on trading volume that surged 18% to $80.4 million.
On a weekly basis, however, the TRON network’s meme coin is still up by around 256%, despite the recent correction.
SUNDOG’s price skyrocketed post-launch, eventually reaching an ATH at $0.2706 on August 21. This was followed by a correction that brought the token to a support at $0.18 late last night, only for the token to then see a strong recovery as the new bullish wave took hold of the market.
While the price is in the middle of a recovery right now, it still has some way to go to make up for yesterday’s losses.
But the fact that Bitpanda added the token to its listing countdown certainly helped to bring the hype back up, and so did the recent launch of the project’s trading bot.
Many in the Sundog community now believe that the surge since launch is only the beginning and that the numbers could explode in coming days and weeks.
Insane update
Basically $150k – $200k TWAP daily for $SUNDOG
and that’s just revenue & profits from day 1 of launch of the trading bot
Over next few days & weeks these numbers could explode https://t.co/6qCPRVGRyg
— Johnny (@CryptoGodJohn) August 21, 2024
Sundog Price Prediction
The SUNDOG price started seeing a strong recovery in the past several hours, but after it started nearing the resistance at $0.25, the token suddenly lost its momentum, and its price started dropping once again.
Sundog’s Bollinger bands have seen a major widening thanks to the surge, and have yet to respond to a sudden shift in its price performance. So far, the price was pushing the upper band further up, but this stopped recently and the price is now rapidly dropping toward the middle point between the upper and lower band.
It remains to be seen whether it will manage to stabilize between the two, or if it will continue spiraling down and start pushing the lower band further down.
The project’s Relative Strength Index (RSI) chart shows that the price rejection happened around the same time when the RSI value entered the overbought zone. In other words, the drop likely came when the traders took the RSI’s performance as the signal that it was time to take profit.
This also suggests that the SUNDOG rally is driven not by hype and fundamental factors, but by technical analysis of day traders, which could also mean that similar technical indicators could be used to predict the token’s short-term performance.
For the moment, SUNDOG is seeing a sharp drop, but it could potentially stabilize once the RSI value drops to the neutral zone, after which it could potentially start seeing a new surge if traders move in to buy the dip.
Alternatively, the price could continue to sink deeper until the RSI hits the oversold area, which would likely bring the token’s price down to the previous support at $0.18.
Promising Alternatives to Sundog
While Sundog is trying to return to its former parabolic trajectory, some may believe that it is already too late to get in on this meme coin.
Fortunately, there are other opportunities available that could match Sundog’s stratospheric rise, and some analysts say that PlayDoge (PLAY) is one of them.
PLAY is a mix between a meme coin and a GameFi/P2E project. Its presale is set to end in less than 4 days, and its developer is offering investors a last chance to buy.
Given the popularity of its presale, which has raised over $6.15 million, the PLAY token could skyrocket like Sundog.
The project is based on a Tamagotchi-style game that will let you have your own 2D Doge pet that you can play with, train, feed, and participate in mini-games, all while earning PLAY tokens for how well you perform the tasks.
Experts like popular YouTuber ClayBro, with more than 130k subscribers, believe PLAY might 10x after launch.
Right now, the PLAY token sells for only $0.00531, and you can buy it with ETH, USDT, BNB, or credit/debit cards. Do so before the imminent end of its presale.
Related Article:
- PlayDoge Announces ICO End With Over $6 Million
- How to Buy PlayDoge – $PLAY Presale Review
- Meme Coins Soar As PlayDoge ICO Zooms Past $5.7M
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