Sundog, a meme coin on Tron, has seen its price spike sharply after a whale scooped up $2 million worth of the token.

According to Lookonchain, on Sept. 12, a whale sold the native Tron (TRX) token and used the funds to buy the surging meme coin. Per the analytics platform, the whale withdrew 13.07 million TRX worth $2 million from Binance and, in one swoop, acquired 3.52 million Sundog (SUNDOG).

SUNDOG price spikes sharply

The price of the SUNDOG token surged following the transaction, rising sharply from lows of $0.30 to $0.35. Overall 24-hour gains for the token stood at 25% at the time of writing. The token was just below its new all-time high as its price exploded.

Amid the price surge, the meme coin’s market cap increased to more than $350 million. Meanwhile, daily volume was up 32%, surpassing $198 million.

SUNDOG is currently Tron’s top meme coin by market capitalization. It launched less than a month ago—on Aug. 15—and has seen staggering gains of 770% from lows of $0.039 on Aug. 16.

Exchanges list SUNDOG

Justin Sun and SunPump’s launch and the hype that followed the meme coin launchpad’s unveiling is key to Sundog’s traction.

Sundog has also been aggressively listed on major exchanges, including MEXC, Bybit, Gate.io, and KuCoin. In the past 24 hours, SUNDOG was also added to the Philippines’ largest crypto exchange Coins.ph, as well as HTX and trading app RabbitX.