TRON (TRX) price has shown a notable uptrend recently, rising over 20% in the past week. TRX price is currently riding a wave of positive momentum, mirroring gains in global markets. This uptrend seems poised for further upside. Signs are increasingly pointing to a sustained bullish move in the market.
TRON price overtakes Solana in meme coin trading
The TRON price has recently overtaken Solana to become the most important network for trading meme coins. This development comes after TRON launched its meme coin platform Sunpump, which has gained more traction than Solana’s counterpart Pump. Fun.
📊 Memcoins on #Tron Against #Sunshine
As we can see, Tron is just at the beginning of its journey to build a network for gaming addicts and Shield holders.
🔼 Bluechip$SunDog has an FDV of only $189 million, which is not much for one of the most important shields in the network. pic.twitter.com/7Zzw8AsWev
— Stay up to date with the latest developments (@CatchTheLatest) 24 August 2024
Compare Meme Coin The activity on both networks highlights Tron’s growing dominance. This surge in popularity could appeal to those interested in risky investments and trading meme coins.
Popular meme coin Bluechip$SunDog currently has a fully diluted valuation (FDV) of $189 million, a valuation that makes it a significant asset within the Tron network, although it remains modest in the broader cryptocurrency market.
Accordingly Coin jarTotal trading volume fell significantly by 30.06% to $498.46 million.
However, open interest has turned positive, increasing by 3.93% to $191.85 million. This shift indicates a growing interest in maintaining positions despite the decline in trading activity and potentially signals greater market confidence for the coming period.
TRON Price Prediction: Can the Uptrend Push TRX to $0.3?
TRON price has seen a significant increase in value, gaining 5% in the last 24 hours. The cryptocurrency traded within a range, reaching a high of $0.163 and falling to a low of $0.154 during this period. This movement indicates a volatile but positive trend for the digital currency in the short term.
At the time of writing these lines TRX Price fluctuated at $0.1615. This price point was observed in the early hours of the European market session and marked a slight improvement towards the upper end of its daily trading range.
TRON price is rising, indicating a possible bullish trend in the market. If this bullish momentum continues, TRON price could rise to $0.2. It could reach a new high at $0.3. With increased bullish activity, TRX could rise to $0.05 in the upcoming rally.
The 4-hour technical indicators for the TRX price mark a period of moderate volatility and trading interest. The Moving Average Convergence Divergence (MACD) is showing a bullish crossover, indicating possible upside momentum as the gap between the MACD line and the Signal line is widening. Furthermore, the Relative Strength Index (RSI) is at 63, approaching the overbought zone but still indicating strong buying interest in the market.
Conversely, a downturn in market conditions could stabilize the TRON price at around $0.16. A sustained decline could push it to $0.15, signaling a bearish phase. Further pressure could push the TRON Price Prediction to the support level of $0.13.
Frequently Asked Questions (FAQs)
TRON could reach $0.2 or even $0.3 if the uptrend continues.
Bluechip$SunDog is a major meme coin on the TRON network with an FDV of $189 million.
Indicators point to strong buying interest and potential for further gains.
Coingape Staff
CoinGape is comprised of an experienced team of homegrown content writers and editors who work around the clock to cover news around the world and present it as facts, not opinions. CoinGape writers and reporters contributed to this article.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Conduct market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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