TRON price under pressure as whale dumps TRX for SUNDOG
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Tron (TRX) is facing downward pressure amid significant whale activity in the TRX market.
A large investor recently offloaded a substantial amount of TRX to acquire SUNDOG, a Tron-based meme coin that’s gaining fresh traction.
While TRON remains a top altcoin, currently ranked 10th with a market cap of over $23 billion, what does the whale’s behaviour suggest about TRX’s short-term price trajectory?
TRX’s latest price action
At the time of writing on April 25, 2025, Tron (TRX) traded at $0.24.
According to CoinMarketCap, the altcoin’s price has fallen by 0.6% over the past 24 hours.
TRX was also down in the weekly timeframe, with its 24-hour trading volume of $532 million nearly 18% down.
Despite its solid ranking as the 10th-largest cryptocurrency, TRX has struggled to maintain upward momentum.
TRON’s price action aligns with broader market volatility.
However, there’s notable downward pressure that might push the Tron DAO token to key support levels.
Whale sells TRX for SUNDOG
The past few days have seen a notable whale transaction catch the TRX market’s attention.
According to Lookonchain, a whale has spent 1.73 million TRX, equivalent to $425,000, over the past three days to purchase 8.04 million SUNDOG tokens.
This includes a recent transaction on April 25, where the whale swapped 536,000 TRX worth about $132,000 for 2.55 million SUNDOG.
Earlier, on April 23, the same whale exchanged 930,600 TRX valued at $228,600 for 4.33 million SUNDOG.
Interest in SUNDOG suggests growing confidence in the memecoin’s potential.
Possibly, this is down to the whale’s outlook for the memecoin, with capital influx into the sector likely after a broader sell-off.
The whale’s actions have contributed to increased selling pressure on TRX, as the market absorbs the offloaded tokens.
Meanwhile, memecoin SUNDOG price has jumped more than 9% in the past 24 hours, changing hands near $0.056.
TRON price outlook
Market sentiment around TRX appears mixed. On one hand, the whale’s pivot to SUNDOG has fueled bearish sentiment for TRX, with some traders anticipating further downside.
A user on X, TaxaTrader, commented on April 25, “Whales are stacking $SUNDOG while the small fish wait to FOMO in. It’s about to get ugly.”
This hints at potential panic buying among retail investors, which could see the Sundog price go parabolic.
On the other hand, TRX may also gain amid ecosystem momentum.
The project, which has strong fundamentals as a decentralized blockchain platform, recently hit a major milestone with a total supply of native USDT reaching $70 billion.
In terms of price, TRX is near a key support level of $0.24. However, a dip would mean primary support near $0.20.
The post TRON price under pressure as whale dumps TRX for SUNDOG appeared first on Invezz
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