Justin Sun, the founder and CEO of Tron, is currently fueling the rise of a new cryptocurrency known as Sundog ($SUNDOG), a project that aspires to be the top meme coin on the TRON network. In the past 24 hours, Sundog experienced a 15% surge, reaching its current price of $0.3425. This impressive climb translates to a remarkable 57.5% increase over the past week, with a market cap exceeding a third of a billion dollars, a commendable feat for a cryptocurrency that has not even completed a month in circulation.
As a result, Sundog currently holds the position of the thirteenth most significant meme coin by market capitalization and stands as the leading meme coin on the TRON platform. In comparison, established meme coins such as Dogecoin ($Doge) and shiba Inu ($SHIB) recorded more modest gains this week, with Dogecoin rising by 4% in a day and 9% over the week, settling at $0.1062. shiba Inu saw a 2.2% increase overnight and a 3.3% climb over the week to trade at $0.00001366. pepe ($pepe), the largest non-Doge meme coin, grew by 1.8% overnight and 5.3% within seven days, trading at $0.0000074579.
However, Tron's native token $TRX did not exhibit the same level of performance, with a 2% drop overnight but a 1% increase from last week, currently priced at $0.1511. The recent surge of Sundog can be attributed to the introduction of TRON's new meme coin launchpad Sunpump, which facilitated its rapid growth within the genre of meme coins launched in a day, aided by the active promotion on social media by Justin Sun.
Justin Sun Pumps Sundog: Price Analysis
Analysis of Sundog's pricing reveals a steady increase in resistance levels over the past month, rising from $0.27 to approximately $0.37. Within a week of its launch, Sundog found strong support around $0.20. The price chart indicates a stable and healthy Relative Strength Index (RSI) of 51, with a downward trend, suggesting potential for further growth. However, profit-taking activity may slow down the upward momentum by the beginning of the upcoming week.
Looking ahead, the TRON network aims to leverage meme coins to gain an edge over ethereum, following a similar strategy to Solana. Despite the speculative and volatile nature of meme coins, the growth of meme coin culture within the crypto sector suggests potential longevity. Projects like Memebet, the first online casino that operates with meme coins, offer new opportunities for engagement and investment in the sector.
TRON coins And Meme Casinos: What’s Next For The Sector?
With the online gambling industry projected to expand significantly in the coming years, protocols like Memebet present innovative solutions by integrating meme coins into the gaming experience. The recent launch of Memebet's presale witnessed substantial investments, with over $200,000 raised in just two days for its native $MEMEBET token.
$MEMEBET token holders can access various benefits, including airdrop rewards, VIP bonuses, and exclusive access to Memebet Casino Lootboxes offering real-world prizes and bonuses. The project also initiated a 400 million $MEMEBET airdrop, providing participants with the opportunity to earn rewards through gaming and betting on the platform.
For those intrigued by the evolving landscape of meme coins and meme casinos, Memebet offers a unique avenue for engagement and potential returns, setting a distinct path from traditional meme coin ventures like Sundog. Stay informed about the latest updates and developments from Memebet on their official channels.
