The post SUN Coin Jumps 470% in a Week: Will the Price Rally Continue? appeared first on Coinpedia Fintech News

Sun Token (SUN), the cryptocurrency from the TRON network, has recently experienced an incredible surge of over 470% in just one week. Starting at $0.009, the token has jumped to $0.03735, grabbing the attention of the crypto community.

So, what’s driving this rally?

The main driver behind this dramatic price increase is a tweet from TRON founder Justin Sun. He announced the launch of SunPump, a new platform on the TRON blockchain for generating and trading memecoins. This announcement sparked the massive price rise.

SUN Coin Records 470% Surge

Launched over four years ago, SUN Token initially aimed to be a store of value like Bitcoin. However, after a supply hyperinflation crash in 2021, the token shifted its focus to decentralized finance (DeFi) on the Justwap and Justlend platforms.

With its renewed utility, SUN is now targeting a $1 billion market cap, currently standing at $377 million.

Renowned crypto analyst Captain Faibik highlights SUN’s extraordinary growth over the past week. The price, which began at $0.009, has soared to $0.03735. This remarkable 470% increase signals a strong bullish trend that investors are closely watching.

SunPump Outperforms Rivals

Justin Sun’s plan to boost TRON’s revenue—expected to exceed $4 billion next year—includes leveraging meme coins and adjusting network fees. SunPump has quickly surpassed its Solana-based competitor, Pump.fun, in terms of tokens launched and daily revenue, contributing to the recent rise in $SUN’s price.

Despite the recent surge, analysts suggest that a price pullback could be coming. Although SUN has recently broken out of a long period of stability and is trending upwards, large bullish candlesticks suggest a possible pause or correction might be near.

Signs of Buyer Fatigue?

Data from Coinglass shows that while long positions have increased by 31% in the last 24 hours, this rise in volume could indicate that buyers are starting to tire. This might lead to a potential pullback in price.

Overall, SUN Token’s recent performance is impressive, but investors should remain cautious and watch for any signs of a correction.

Also Check Out: No Altcoin Season Ahead? Lark Davis Breaks Down the Bear and Bull Cases

Are you ready to invest in the Sun Coin? Do your research and make an informed decision.

The post SUN Coin Jumps 470% in a Week: Will the Price Rally Continue? appeared first on Coinpedia.org.