Token

Long

Flow

SUNDOG

Sun Token (SUN), the cryptocurrency from the TRON network, has seen an impressive surge of over 176% in less than a week. On August 13, TRON founder Justin Sun’s tweet on the launch of SunPump sparked this dramatic price increase, with SUN reaching a high of $0.02600. 
Originally launched over four years ago, SUN Token was initially intended to mimic Bitcoin as a store of value. However, after a crash in 2021 due to supply hyperinflation, the token shifted its focus to decentralized finance (DeFi) on the Justwap and Justlend platforms. Now, with renewed utility, SUN is aiming for a $1 billion market cap. 
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 <img loading="lazy" decoding="async" width="1004" height="455" src="https://www.cryptotimes.io/wp-content/uploads/2024/08/Sun-Token-SUN-Surges-176-in-Just-7-Days.png" alt="Sun Token (SUN) Surges 176% in Just 7 Days" class="wp-image-197456" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/08/Sun-Token-SUN-Surges-176-in-Just-7-Days.png 1004w, https://www.cryptotimes.io/wp-content/uploads/2024/08/Sun-Token-SUN-Surges-176-in-Just-7-Days-800x363.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/08/Sun-Token-SUN-Surges-176-in-Just-7-Days-768x348.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/08/Sun-Token-SUN-Surges-176-in-Just-7-Days-860x390.png 860w" sizes="(max-width: 1004px) 100vw, 1004px">
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 SUN Price Chart | Source:&nbsp;<a href="https://coinmarketcap.com/currencies/sun-token/" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
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Justin Sun’s strategy to boost the network’s revenue, which he predicts will surpass $4 billion next year, includes leveraging meme coins and adjusting network fees. His platform’s SunPump feature has quickly <a href="https://www.cryptotimes.io/2024/08/22/sunpumps-rapid-rise-overtakes-pump-fun-in-memecoins/" target="_blank" rel="noreferrer noopener">overshadowed its Solana-based competitor, Pump.fun</a>, in both tokens launched and daily revenue. 
SUN’s recent price action has broken out of a consolidation phase and is trending upwards, supported by rising EMA lines. However, recent large bullish candlesticks suggest a potential pause or correction might be near. 
Data from <a href="https://www.coinglass.com/pro/i/VisualScreener" target="_blank" rel="noreferrer noopener nofollow">Coinglass</a> shows that while traders are still opening Long positions, the volume has only increased by 31% over the last 24 hours, indicating possible buyer exhaustion. 
Despite the recent surge, analysts suggest a price retracement could be on the horizon. The Sun Token price recently broke out of a long consolidation phase, but signs of buyer exhaustion are beginning to appear.&nbsp; 
Indicators like the Chaikin Money Flow (CMF) and the Coppock Curve suggest that the token might be entering an overbought condition, potentially leading to a pullback. 
If the price of SUN dips to around $0.01800, it could present a buying opportunity before another upward move. However, failure to hold this support level might lead to a bearish trend, pushing the price down to around $0.01314. If the current momentum holds, the token could rise to $0.03500. 
Sun Token’s recent surge reflects strong market interest and renewed utility, signaling a promising future for its DeFi-focused strategy. The dramatic price spike highlights the potential for substantial gains in the evolving crypto market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/08/22/trons-sundog-meme-coin-surges-100x-to-0-20/" target="_blank" rel="noreferrer noopener">Tron’s SUNDOG Meme Coin Surges 100x to $0.20</a> 
</blockquote>

Sun Token Price Surges 176% After Justin Sun’s X Post

The Crypto Times

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