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SUNDOG, a dog-themed coin on the Tron (CRYPTO: TRX) blockchain, overcame the broader memecoin slump to post healthy gains on Sunday.
What happened: The meme cryptocurrency jumped more than 6% over the last 24 hours to $0.2371, taking its market capitalization past $238 million.
The rally was in sharp contrast to the price action of more established tokens like Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe (CRYPTO: PEPE), all of which recorded steep declines in excess of 3%.
SUNDOG was launched on SunPump, a memecoin launching pad on the TRON blockchain, akin to Pump.fun on the Solana (CRYPTO: SOL) network.
The coin's price has skyrocketed 289% since its launch on Aug. 15. Tron founder Justin Sun has backed the token, referring to it as “fly dog” and “dope doggie."
Why It Matters: SUNDOG has become the face of the meme frenzy on the Tron network, with degens creating an avalanche of tokens for money-minting prospects.
The total market cap of Tron-based meme coins has swelled past $456 million as of this writing, according to CoinGecko.
The broader cryptocurrency market tanked Sunday, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) enduring significant losses.
Price Action: At the time of writing, TRX, Tron’s native token, was trading at $0.1558, down 0.12% in the last 24 hours, according to data from Benzinga Pro.
Photo by Avi Rozen on Shutterstock
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