TRON Price Prediction: TRX Surges 11% To Become Top 10 Crypto As This 2.0 PEPE Raises $700k In 4 Days
Release: 2024/08/21 15:39 Reading: 737
TRON Price Surges 11% on Influential Partnerships
The price of TRON (TRX) soared 11% in the past 24 hours, reaching $0.1602 as of 00:37 a.m. EST. Trading volume skyrocketed by 111% to an impressive $1.9 billion.
This upward trend coincides with TRON's rise into the top 10 cryptocurrencies by market capitalization, surpassing Cardano (ADA). The recent announcement by TRON founder Justin Sun that influential meme coin community leaders have expressed interest in integrating into the TRON ecosystem has further fueled this momentum.
SunPump Platform Catalyzes Meme Coin Activity
To facilitate this integration, the TRON network has launched the SunPump platform, an innovative initiative dedicated to the launch and trading of meme coins. This platform has significantly boosted on-chain activity within the TRON blockchain.
Technical Analysis Points to Continued Surge
According to data from GeckoTerminal, the TRON price experienced a slight dip from the $0.14 resistance before finding support around $0.12. TRX bulls leveraged this support to push the price back up to the resistance zone, forming a rounding bottom pattern.
Bulls subsequently capitalized on this pattern to propel the price to the $0.17 resistance. Technical indicators, such as the 50-day and 200-day Simple Moving Averages, support a bullish stance, indicating that the token is positioned for further upside potential.
Pepe Unchained's Arrival on the Scene
Amidst these developments, investors are eagerly buying a new Pepe alternative, Pepe Unchained (PEPU). YouTube channel 99Bitcoins, with over 706k subscribers, has endorsed PEPU's 100x potential post-launch.
Conclusion
The TRON price analysis suggests that the token could continue its upward trajectory, with bulls targeting a $0.18 price point. However, investors should note that overvaluation could lead to a temporary retracement.
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