The interest rate cuts by the Federal Reserve and the People's Bank of China have injected new impetus into the global financial market, driving a strong rebound in the stock and bond markets in the United States and China. This positive signal of monetary policy has not only boosted the traditional financial market, but also triggered a chain reaction in the crypto market. In September, the total market value of the global crypto market rose by 8%, among which the performance of the meme sector was particularly eye-catching, with the highest market value increase exceeding 52%. In this meme boom, SunDog, a star project of the TRON ecosystem, has become the focus of global investors with its strong market performance and unique application scenarios, and has quickly become one of the top projects in the meme track.
As a representative meme project in the TRON ecosystem, SunDog has extremely high market potential. Since its launch, SunDog has shown strong growth in terms of market performance, community size, on-chain liquidity, and the distribution of coin holding addresses. Especially in the context of meme assets being highly dependent on community consensus and market popularity, SunDog's community support and practical application scenarios have brought it unique advantages.
In order to better analyze SunDog's potential and competitive advantages in this round of meme craze, we compared SunDog with meme projects recently launched on major exchanges such as Binance and OKX from the following key dimensions.
In the meme market, trading volume is an important indicator to measure the popularity of a project. According to Coingecko data, by comparing the meme coins recently launched on Binance and OKX, we can see that SunDog's trading volume has exceeded most of its competitors before it was launched on these platforms. Even during the fierce competition of meme coins, SunDog still maintained a trading activity far exceeding other currencies.
(Note: Since listing on OKX or Binance will have a significant impact on trading volume, some currencies use the trading volume of the first 30 days of listing)
Without considering the impact of listing on OKX or Binance, SunDog's trading volume is much higher than other tokens under the same conditions. If we look at the highest daily trading volume, the results are as follows.
(Ranking of the highest single-day trading volume in the past 30 days)
SunDog ranks third with the highest single-day trading volume, not far behind the first place, but the average trading volume data will be more convincing. SunDog is currently listed on 17 exchanges, and its trading volume performance is very good without relying on the influence of OKX and Binance.
Community size comparison: Sundog shows strong community foundation
The power of community is at the heart of a meme's success, and SunDog isn't far behind on this front. According to social media data, SunDog's official account on Twitter has 125,000 followers. Although Slerf has more followers, SunDog's number of followers is growing faster.
In addition to Twitter’s social media presence, SunDog’s activity in the Telegram community has also increased significantly. Its Telegram main group has more than 17,000 members and more than 2,500 daily active users, demonstrating strong community cohesion and user participation.
(SunDog’s official account ranks second with 125,000 followers, and Slerf, which ranks first, was founded five months earlier than Sundog.)
(Although SunDog ranks 4th, the top 3 were established earlier than SunDog, and WIF will not be established until 2023.)
SunDog not only performs well in terms of trading volume and community size, but also has healthy liquidity and coin distribution. The liquidity value of the largest liquidity pool TRX/SUNDOG on DEX remains at US$5 million, which gives SunDog a more stable market foundation and better price stability on the chain.
By comparing the number of addresses holding coins, it is not difficult to see that SunDog has a broad user base. Although the number of SunDog coins held is not the highest, it is second only to DEGEN. Compared with other popular meme coins, SunDog's coin distribution is healthier, the project is more resilient, can withstand more risks, and the entire market state is more dynamic. A dynamic market can attract more traffic and funds to join.
Unlike traditional meme projects that rely solely on market hype and social media popularity, SunDog has added actual application scenarios on this basis. SunDog launched its native trading robot, SunBot, only 7 days after its launch. SunBot can generate about $100,000 in transaction fees per day, and the official promise is to use all revenue to repurchase and destroy SunDog tokens. This not only increases the market demand for tokens, but also brings substantial benefits to holders. On the other hand, projects such as Slerf, Neiro, and Moodeng in the same track are only meme coins used for community and entertainment, and have no actual project application scenarios. In this regard, SunDog has left them far behind.
In addition, SunBot has repurchased and destroyed all SunDog tokens with its September earnings, and the repurchase and destruction in October are still ongoing. SunDog's move clearly conveys to the market the project's firm determination and confidence in the development of the project, and will create more value and development opportunities for investors and users.
SunDog's market popularity not only comes from the inherent strength of its project, but also from the celebrity effect, which brings it more exposure and attention. Just a few days ago, Trump posted a message to interact with SunDog, which brought it super high exposure and topic discussion.
On October 8, Ty Dolla $ign (@tydollasign), a famous American rapper, completed a highly watched transaction on SunSwap V3. He exchanged more than 3.2 million TRX worth $500,000 for more than 1.66 million SunDogs, and posted a message to support SunDog and expressed his appreciation for its development potential.
Unexpectedly, Ty Dolla $ign mistakenly sent all these tokens to the wrong contract address and destroyed them all. In response, Justin Sun quickly responded and posted a message saying that he would support Ty Dolla $ign's mistake. He gave Ty Dolla $ign TRX worth $500,000 and encouraged him to continue to buy SunDog. At present, Ty Dolla $ign has used this TRX to repurchase SunDog.
SunDog is rapidly emerging as a leader in the meme track with its outstanding market performance, balanced distribution of holdings and practical application scenarios. Relying on the strong support of the TRON ecosystem, SunDog not only has a deep community foundation, but also, as its market influence continues to increase, SunDog is expected to become a meme project target that top trading platforms focus on.
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