SUNDOG, the largest meme coin within the Tron ecosystem is seeing a sharp surge of 12% in the last 24 hours. This happened as Tron managed to handle some of the network congestion and high trading fee issues. Let us see what effect the same had on SUNDOG price.
SUNDOG Price Begins Fresh Rally
Ever since its launch in mid-August, the SUNDOG meme coin has been the talk of the town with 300% in the last 15 days. The meme crypto now commands a market cap of more than $250 million. As of press time, the SUNDOG price is trading at $0.2512.
Tron founder Justin Sun has been continuously promoting its meme coin ecosystem. This could emerge as a potential challenger to the Solana meme coin ecosystem. Tronâs popular meme coin platform SunPump has set an ambitious target of $100 million in revenue by the year-end. In the latest development, Tronâs SunPump platform once again knocked down Solana-based PumpFun in daily trading activity.
Apart from SUNDOG, other Tron-based memecoins are also gaining massive traction recently. The SunPump-based Tron BULL meme coin has become the second-largest on the platform with a market cap of $118 million. Reports suggest that an investor turned $1,200 investment in TRON BULL to a staggering $10 million.
Tronâs Justin Sun Addresses Trading Fee Issue
Acknowledging the surge in the trading fee on the Tron blockchain network, founder Justin Sun said that they are making all possible arrangements to cater to the energy requirements and keep the trading fee low. In a tweet on the X platform, he wrote,
âThe issue of high fees for NFT minting and trading has been noted. It will be resolved today with a significant reductionâ.
He further announced that a substantial amount of energy was released on the Tron network, which, coupled with the increased energy cap, has significantly eased the overall shortage. Sun emphasized that Tronâs global nodes will closely monitor energy supply and prices to maintain competitive gas fees within the industry.
On the other hand, Tron has recently worked with the OKX wallet which reduces the transaction fee for trading Tron meme coins by 98% using the wallet. On the other hand, Justin Sun is also pushing ahead for high-quality NFT projects in the Tron ecosystem.
Disclaimer
The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called âprice predictionâ) on this page are subject to change without notice and are not guaranteed to be accurate.
