The memecoin market is experiencing renewed interest as projects seek to build stronger communities and innovative utilities.
Sundog, a dog-themed memecoin on the Tron blockchain, is one such project aiming to grow its ecosystem and expand its user base. With over 500,000 holders and features like a deflationary model and the Sunbot Telegram trading tool, Sundog is positioning itself for further growth.
In this interview, Alex, the developer of the Sundog memecoin, discusses the memecoin’s rapid rise, its picking up Tron as the primary network, and the strategies behind its ambitious goal of reaching a $5 billion market cap. They also explore how partnerships, community engagement and new technologies are shaping Sundog’s future in the memecoin space.
Cointelegraph: What factors do you believe are driving the current resurgence of memecoins, and how does Sundog fit into this trend?
Alex: Memes, unlike non-fungible tokens (NFTs), are able to cut across both Web2 and Web3. They are a social currency — a way for friends and communities to come together and have fun, discover and (hopefully) make gains. Many in the Sundog community have made profits, and this is important to us.
We have also shown great price resilience, even when Bitcoin (BTC) has fallen. This resilience is because of our team’s commitment to community and building a meme that can carry the weight of the Tron ecosystem on its back, a meme that can reach a $5 billion market cap. Our community has grown significantly, with hundreds of thousands of onchain holders, showcasing the widespread adoption and trust in Sundog.
CT: Why did you choose the Tron ecosystem to launch Sundog, and what unique advantages does it offer over other blockchain platforms?
Alex: Tron appealed because of a few factors. Where Solana was a crowded marketplace that was hard to stand out in, Tron was a blue sky and we felt that we wanted to be in an ecosystem where we could make a difference and put in the work and creativity to launch a chain-leading meme.
In addition, we felt that the chain had users and its founder, Justin Sun, could go to great lengths to build and support the ecosystem. We were proven right, and the support from Sun Pump and the ecosystem has been amazing. We find the teams fast-moving, quick to listen to community suggestions and keen to evolve and push the meme ecosystem to new heights. This strategy has paid off, as evidenced by our highest spot trading volume reaching an impressive $231 million.
CT: Can you explain how the Sunbot trading app and other technical innovations support Sundog’s deflationary model?
Alex: When we launched Sunbot, we aimed to create the infrastructure to allow Telegram users to trade Tron memecoins easily. We then decided to use all profits for 30 days to buy SUNDOG tokens from the market and burn them, thus lowering supply and creating a deflationary meme model — something that has been really well received by the community. This innovative approach, combined with our commitment to allocate 50% of net revenue for SUNDOG buybacks and burns, ensures a continuous deflationary pressure on the token supply.
CT: What were the key drivers behind Sundog's rapid rise to a $300 million market cap, and what strategies are you employing to reach your $5 billion target?
Alex: We believe this is a realistic goal from the current market cap. Our price has risen rapidly because we managed to tap into the untapped Tron community and persuade a lot of other memecoin holders from Solana to migrate to SUNDOG. The trust was built, and it showed.
We also showed a lot of price resilience, and I think people noticed that, which has persuaded new entrants to come into our project at every level of our growth. We also did a significant airdrop of $2 million SUNDOG to the Tron community.
We are expanding our real life marketing efforts, building more value through our community-focused approach and exploring other ways to bring use cases and utility to our holders. One such utility is the AI companion app that we are launching with a company called Nextmate.ai. This will allow our community the ability to interact and have fun getting to know our SUNDOG. Our global reach is evident from trending on Twitter in multiple countries, including the United Kingdom, Germany, Brazil and the United States.
CT: How does Sundog plan to enhance its role within the Tron ecosystem and foster further growth through partnerships or collaborations?
Alex: We take our responsibility to lead the Tron ecosystem very seriously. This can be seen by our partnerships with SUNCAT and MUNCAT, which are great community-led projects in the Tron ecosystem. We want to do more of these and explore how we can keep building exciting partnerships and collaborations to allow our community to feel part of something that continues to grow, develop and rewards them.
Our partnerships extend beyond the Tron ecosystem, including collaborations with Zebec (Mastercard partnership), Fox Wallet, OKX Web3 Wallet and even influential supporters like Hasbulla, who is planning an airdrop for his NFT holders. We have some exciting partnerships that will be announced soon.
CT: How do you see the memecoin landscape evolving in 2024, and what steps is Sundog taking to stay ahead in this competitive market?
Alex: Memes are here to stay. They have proven themselves to be the key driver of retail interest in this market cycle, and they are the distillation of people coming together to have fun and speculate together.
Social finance is memes and I think a lot of people are waking up to this, the likes of Robinhood and eToro have listed memes and their audience is conventional retail, which shows the appeal beyond just Web3, and we believe this will only increase over time.
We are busy making our token as reachable as possible for different users and audiences and build on a strong start to create the right partnerships to unlock value for our holders and attract new holders into a meme, which we are full committed to building into a leading meme in the space with a market cap over $5 billion.
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