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As the price approaches a key resistance level, whales have accumulated 350 million USD worth of SUNDOG.
- SUNDOG surges 32% as whales withdraw 350 million USD and trading volume increases by 204%.
- On-chain activity and indicators confirm bullish tendency, with price expected to break through $0.079.
Whale users actively increase SUNDOG [SUNDOG] holdings, withdrawing over 69 million tokens from Bybit, valued at $3.56 million. This withdrawal involves two new wallets and two potentially associated wallets.
The surge in whale activity coincides with a continuous 32.73% daily price increase. At the time of writing, the token was trading at $0.06909.
When price and accumulation rise together, it typically signals a stronger rebound.
Therefore, continued accumulation may validate bullish expectations, laying the groundwork for increased speculative activity and short-term token appreciation.
Are Traders Making Big Bets?
SUNDOG's derivatives indicators show a sharp rise in speculative interest.
Derivatives trading volume surged 204.89% to $29.66 million, while open interest grew 43.82% to $15.07 million. These figures indicate growing trader demand for leverage.
Moreover, the increase in volume and open interest reflects strong confidence in recent price momentum. The rise in trading activity suggests market optimism about continued price appreciation.
The OKX liquidation heatmap confirms massive sell-side liquidations around $0.07. As the price breaks through this area, liquidations triggered an aggressive short squeeze.
This move forced many traders to exit, accelerating upward pressure.
Interestingly, another liquidation cluster exists around $0.075. Thus, if bulls continue to apply pressure, new liquidations could accumulate, further accelerating the upward momentum.
Can Bulls Break Through? Future Targets at $0.079 and $0.12
At the time of writing, SUNDOG's price is approaching a key resistance level near $0.079. If this area is confirmed broken, it could potentially move towards $0.12.
Technically, the MACD indicator shows a bullish crossover, indicating strengthening momentum. Additionally, the 9-day moving average has crossed above the 21-day moving average, confirming a bullish moving average crossover.
These two signals collectively suggest an improving trend structure. However, failure to reclaim and hold above $0.079 could trigger a short-term pullback.
Nevertheless, if trading volume remains stable, indicators currently favor continued bullish momentum.
Address Activity Indicates Growing Interest
On-chain activity suggests overall increasing user engagement. New address count jumped 171.43%, while active addresses rose 76.19% over 7 days.
Zero-balance wallet count also increased by 123.81%, indicating new wallet generation and enhanced activity. Increased participation fundamentally supports price movement.
If this trend continues, it could strengthen bullish confidence.
Volatility has cooled down.
SUNDOG's 30-day volatility dropped to 116.68%, the lowest in a month.
This indicates the price trend will tend to stabilize. In an upward trend, low volatility typically supports clearer breakouts.
Therefore, the current landscape favors trend development. This calm background provides a launch platform for stronger movements.
However, a sudden drop in trading volume could weaken momentum.
Can SUNDOG Maintain Its Bullish Trajectory Above $0.07?
Momentum, whale accumulation, and on-chain growth support SUNDOG's recent surge. If the price breaks through $0.079 with increased volume, $0.12 becomes realistic. However, failure to maintain current levels could trigger consolidation.
Nevertheless, with traders and whales aligned, market dynamics favor bulls. As long as address activity and derivatives trading volume remain high, SUNDOG could potentially continue its upward trend in the coming trading days.
