Sundog (SUNDOG) has become one of the most popular trending cryptocurrencies that attract traders and investors who are in search of the next best thing to invest in within the sphere of cryptocurrencies. This token is relatively new in the market and has received a lot of attention in a very short span of time, which is indicative of the cryptocurrency market and the continuous search for new projects.
Currently trading at $0. 2134, Sundog has a very small decrease of 0 percent from its previous level. 4% in the last one hour and a bigger fall of 3 percent. 8% of the last twenty four hours. These short-term volatile are typical for this market as well as for new and not very popular tokens. But, still, the more alarming is the trend of 13. 7% over the past week, this may make some investors to think twice before investing in it.
The appeal of Sundog, therefore, is based on the proposition of the company in the cryptocurrency industry. There is no precise information about the project’s objectives and the technology used in the pursuit of these goals in the search results but it is evident that Sundog has gained the attention of the crypto audience.
This could be as a result of a variety of factors such as new features, good marketing strategies or just being in the right place at the right time in the context of the investors looking for other better performing coins than the traditional ones.
Like with any other recently popular trending cryptocurrency, it is important to look at Sundog objectively. The ability of such products to quickly gain popularity can trigger the image of the bandwagon effect, with price manipulation and consequent emergence of steep prices. Any investor interested in investing in Sundog or any other emerging crypto asset should not be carried away by FOMO and should do his/her research well before investing.
Cryptocurrencies are generally considered to be quite sensitive to fluctuations, especially those which are relatively fresh to the market like Sundog. What is more, the probability of high returns is accompanied by high probability of substantial losses at the same time. A lot of emphasis should be put on the basic inputs of the project, the sustainability of the project and the general environment when making any investment.
In the course of its continued popularity, it will be exciting to see how it evolves and whether or not it will sustain the pace in a very crowded cryptocurrency market. It will only be time that will tell whether Sundog is going to be one of the many digital asset players that are into the market at the moment or whether it will remain relevant like many other tokens out there.
