Justin Sun-Backed Memecoin Rallies Among Dogecoin, Shiba Inu Slump — What You Need To Know
Portfolio Pulse from Aniket Verma
SUNDOG, a memecoin on the Tron blockchain, surged over 6% despite a broader memecoin slump, contrasting with declines in Dogecoin, Shiba Inu, and Pepe. Backed by Tron founder Justin Sun, SUNDOG has risen 289% since its launch on August 15.
September 02, 2024 | 4:12 am
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NEUTRAL IMPACT
Tron's native token TRX saw a slight decline of 0.12% despite the success of SUNDOG, a memecoin on its blockchain, which surged over 6%.
While SUNDOG's success highlights activity on the Tron blockchain, TRX's slight decline suggests the broader market conditions are more influential on its price. The memecoin's rally may not significantly impact TRX in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70