Sundog, a meme coin on the Tron blockchain, has experienced a significant price increase after a whale purchased $2 million worth of the token.

According to Lookonchain, on September 12, a whale sold the native Tron token (TRX) and used the funds to buy the rapidly increasing meme coin. The analytics platform reported that the whale withdrew 13.07 million TRX, worth $2 million, from Binance and acquired 3.52 million Sundog tokens in a single transaction.

A whale withdrew 13.07M $TRX ($2M) from Binance and bought 3.52M $SUNDOG in one transaction just now!

The price of the SUNDOG token surged following this transaction, rising sharply from $0.30 to $0.35. The token saw a 25% gain over a 24-hour period, just below its new all-time high. Amid this price surge, the meme coin’s market cap increased to over $350 million, while daily trading volume rose by 32%, surpassing $198 million.

SUNDOG is currently Tron’s top meme coin by market capitalization. Launched less than a month ago on August 15, it has recorded impressive gains of 770% from its initial price of $0.039 on August 16.

Key to Sundog’s traction is the hype generated by its launch and subsequent aggressive listings on major exchanges such as MEXC, Bybit, Gate.io, and KuCoin. In the past 24 hours, SUNDOG was also added to the Philippines’ largest crypto exchange, Coins.ph, as well as HTX and the trading app RabbitX.

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