Breaking news
The fair no longer too long within the past launched Tron-based mostly Sundog (SUNDOG) meme coin has garnered massive attention from crypto enthusiasts and is poised for a vital designate rally, doubtlessly attributable to rising ardour from whales. On September 14, 2024, the on-chain analytic firm Lookonchain made a submit on X (Previously Twitter) that a crypto whale spent $500,000 fee of Tron (TRX) to aquire 1.16 million SUNDOG tokens.
Whale Ardour in SUNDOG
This big aquire comes after the crypto whale had bought $2 million fee of SUNDOG two days prior, as reported by CoinPedia.
Despite the extensive aquire, SUNDOG stays accurate and has no longer skilled a designate surge the same to the one on September 12, 2024, when it surged extra than 25%. At press time, it is trading approach $0.34 and has skilled a designate decline of over 2.75% within the closing 24 hours. Within the direction of the same length, its trading volume dropped by 11%.
This descend in trading volume is doubtlessly attributable to the sleek market correction following a at ease designate surge across the cryptocurrency market.
SUNDOG Model Prediction
In step with knowledgeable technical evaluation, SUNDOG is experiencing a designate correction and might maybe presumably also stay bearish for a immediate length because it has skilled a designate surge of over 85% within the previous week. Basically based on SUNDOG’s sleek designate momentum, if it closes a day-to-day candle under the $0.331 stage, there might be a accurate possibility it might well maybe presumably tumble by 15% to the $0.288 stage within the arrival days.
Bullish On-chain Metrics
Whereas, accurate give a enhance to from whales and investors might maybe presumably alternate SUNDOG’s bearish sentiment. In step with the on-chain analytic firm Coinglass, its future open ardour is incessantly rising indicating traders and investors are on a buying spree.
Furthermore, SUNDOG’s Lengthy/Immediate ratio at the moment stands at 1.029, indicating bullish market sentiment among traders. At sleek, 50.64% of high SUNDOG traders build long positions, while 49.36% build immediate positions, suggesting that bulls are dominating the asset.
