South Korean cryptocurrency exchange Bithumb has decided to delist SUNDOG. The exchange will completely halt SUNDOG trading on October 6.
Users will have one additional month to withdraw their assets. According to Bithumb’s announcement, withdrawal support for SUNDOG will end on November 6.
The decision comes roughly two weeks after SUNDOG was placed on Bithumb’s investment warning list. The exchange had pointed to concerns over the project’s disclosures and the progress of its activities.
When will Bithumb stop SUNDOG trading?
According to Bithumb’s September 4 announcement, trading support for SUNDOG will end on October 6 at 3:00 p.m. The stated time is based on South Korean local time.
Once the delisting takes effect, API trading support for SUNDOG will also be disabled. All open buy and sell orders at that time will be automatically canceled.
The exchange will not immediately suspend withdrawals. SUNDOG holders will be able to transfer their tokens to another supported platform or a compatible wallet until November 6 at 3:00 p.m.
Bithumb also advised users not to wait until the final deadline. Address verification and transfer procedures may take additional time, especially for users moving assets to another exchange or a personal wallet.
Why is Bithumb delisting SUNDOG?
The decision is linked to concerns over the project’s disclosure practices and the progress of its operations.
Bithumb reviewed whether major developments had been disclosed in a timely manner. The exchange also examined the transparency and reasonableness of significant changes, along with the overall progress of the project’s activities.
Following the review, Bithumb concluded that SUNDOG no longer met the criteria required to maintain trading support. The exchange therefore decided to delist the token.
The process had actually started on August 21. At the time, Bithumb added SUNDOG to its investment warning list alongside MANTRA, BounceBit and GALA.
The reason given for SUNDOG differed from those of the other projects. Bithumb said the project had failed to sufficiently disclose developments that could materially affect the token’s value.
The exchange also stated that it had identified shortcomings when reviewing the actual progress of the project’s activities. SUNDOG deposits were suspended as of August 21.
How did the SUNDOG price react?
Selling pressure has emerged in SUNDOG following the delisting decision. According to CoinGecko data, the token was trading at around $0.0036 at the time of writing.
SUNDOG has lost around 4.8% over the past 24 hours. The project’s market capitalization stands at roughly $3.6 million.
However, the entire daily price move cannot be attributed to Bithumb’s decision. Delisting announcements can increase volatility, particularly among low-cap altcoins, making SUNDOG’s price action on Bithumb worth watching in the coming days.
What is SUNDOG?
SUNDOG is a meme coin project launched through SunPump on the TRON network. The project debuted in August 2024 and became one of the more prominent dog-themed meme coins within the TRON ecosystem.
According to Bithumb’s asset description for SUNDOG, the token is used as an ecosystem asset within the project’s community. The project also operates Sunbot, a service that allows TRON-based tokens to be traded through Telegram.
Bithumb’s delisting does not mean that SUNDOG will stop trading entirely. The token continues to be available on several international cryptocurrency exchanges.
Still, the loss of trading support in the South Korean market represents a significant development for SUNDOG. Bithumb users in particular should keep track of the October 6 trading deadline and the November 6 withdrawal deadline.
