Why This Altcoin Outperforming Dogecoin and Shiba Inu With 100X Gains?

Leaving aside Bitcoin, Ethereum, and even popular meme coins like Dogecoin and Shiba Inu, this one has shocked netizens after becoming the altcoin with 100X gains. It becomes more significant when the entire crypto market is struggling due to investors’ feared sentiments. At a time when the Bitcoin price is struggling to reach $60K and many cryptos with the same challenges, the best altcoins like SUNDOG, PEPE, and XRP are booming. This SUNDOG has been among the most profitable cryptos since its launch.

New Altcoin SUNDOG Uproars The Market With 100X Gains

SUNDOG is in hype due to the rising demand for the TRON-themed coins. This demand grew after investors began to grab heavy profits on the newly launched tokens, especially on Justin Sun’s SunPump platform. One such TRON trader made $7.5 Million from less than $300, shocking the investors.

Such incidents have created the hype of these newly launched meme cryptos, including SUNDOG. At the time of writing, the SUNDOG price is at $0.3395 after a 420% surge in the last 30 days.  Even on the weekly and daily charts, its performance has not deteriorated, maintaining the increase of 62% and 11%.

Not only this, it has also become the 209th top cryptocurrency in the market, with a market capitalization of $344,759,215 per CoinmarketCap. Moreover, the 23% surge in its trading volume of $198,191,791 indicates rising demand for the token among investors.

This heavy surge in the SUNDOG price is due to these investors’ attention to the token. Just yesterday, a crypto whale bought 3.52M SUNDOG after spending 13.07M TRX($2M). Such huge whale buying often attracts other investors to do the same. Moreover, the growing development of the Sunpump platform is aiding in the same, where recently it has launched the SUNBOT, a trading bot to buy TRON meme coins on Telegram.

Not to forget, SUN has also allocated $10 billion to the meme ecosystem boost incentive program, fueling this altcoin price.

Dogecoin And Shiba Inu Price Struggles Despite Heavy Demand

Dogecoin (DOGE) is known as the king of meme-based cryptocurrencies, and Shiba Inu (SHIB) is its biggest competitor. These two have the biggest share of the meme market and have a history of heavy gains, leading to this high demand. However, despite that, these two are not the most profitable assets in the current market situation.

But that also does not mean that these two are at a complete loss, as the years-long dominancy has equipped them with multiple support systems, including their community. The DOGE price is presently at $0.1051 after an almost 4% surge today. At the same time, the SHIB is at $ 0.00001357 after a 2.25% surge today and 5% over the week. Moreover, Krao analysts have forecasted the Shiba Inu to Break $0.001 in the future.

However, despite that, both Dogecoin and Shiba Inu are way from their all-time highs of $0.7376 and $0.00008845. Moreover, their recent gains are nothing compared to their best-performing days and investors’ expectations. As a result, many investors have shifted their funds from these assets to newly launched ones like the altcoin with 100x mentioned above.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.