{"id":1220,"date":"2024-08-27T04:16:04","date_gmt":"2024-08-27T04:16:04","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=1220"},"modified":"2024-08-27T04:16:04","modified_gmt":"2024-08-27T04:16:04","slug":"big-win-for-tron-investors-as-trx-price-tapped-39-month-high-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=1220","title":{"rendered":"Big Win for TRON Investors as TRX Price Tapped 39-Month High: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

TRX has surged over 30% in the past two weeks, now trading near $0.17, and has entered the top 10 cryptocurrencies by market cap, surpassing $14.5 billion.
\nCurrently, all of the asset\u2019s holders are sitting on some paper profits.<\/p>\n

<\/a><\/span><\/h2>\n

TRX\u2019s Solid Performance<\/h2>\n

TRX<\/span> \u2013 <\/span>the native token of Tron<\/span> \u2013 <\/span>has<\/span> been among the best performers in the entire cryptocurrency market in the past few weeks. Its price is up over 30% on a 14-day scale, currently trading at almost $0.17 (per <\/span>CoinGecko\u2019s<\/span> data).
\n<\/span><\/p>\n

<\/a>TRX Price, Source: CoinGecko<\/p>\n

What\u2019s more, TRX recently became one of the top 10 biggest cryptocurrencies after its market capitalization surged above $14.5 billion. The 11th spot belongs to Toncoin (TON), whose price <\/span>plummeted<\/span><\/a> over the weekend following the arrest of Telegram\u2019s founder and CEO \u2013 Pavel Durov.<\/span><\/p>\n

TRX\u2019s substantial price increase has benefited those invested in the token. I<\/span>ntoTheBlock data currently shows<\/a> that 100% of the HODLers are sitting on some paper profits.<\/span>
\n<\/span><\/p>\n

It is worth noting that <\/span>the majority of<\/span> TRX investors (62%) <\/span>have<\/span> entered the ecosystem over a year ago.<\/span> 33% have done so in the past 12 months, while only 5% have jumped on the bandwagon in the last 30 days.\u00a0<\/span><\/p>\n

Despite being on the crest of a wave, some indicators signal that <\/span>TRX\u2019s valuation might be headed<\/span> for a correction. <\/span>One example is the Relative Strength Index (RSI) which gauges the speed and change of price movements of <\/span>the<\/span> asset and shows whether it <\/span>is<\/span> overbought or oversold.<\/span><\/p>\n

The momentum oscillator varies from 0 to 100 as a ratio above 70 signals that TRX is <\/span>in<\/span> overbought territory, meaning a pullback could be an option. Currently, the RSI is <\/span>hovering<\/span><\/a> around that zone.<\/span><\/p>\n

TRON\u2019s Memes Took Central Stage<\/span><\/h2>\n

TRON\u2019s ecosystem has recently experienced a general resurgence, with thousands of meme coins launched<\/a> on SunPump (a platform associated with Justin Sun that allows users to create meme coins in minutes).<\/span><\/p>\n

The largest token of that type is Sundog (SUNDOG), which began trading on August 16. As of now, its price is around $0.30, representing a whopping 300% increase on a weekly scale, while its market capitalization exceeds $300 million.<\/span><\/p>\n

The meme coin\u2019s rally caught the eye of numerous industry participants, some of whom assumed this was just the beginning of a <\/span>major<\/span> bull run. One X user <\/span>claimed<\/span><\/a> that SUNDOG has been on an accumulation pattern that could be followed by a price explosion to as high as $1 \u201creally soon.\u201d<\/span><\/p>\n

Other TRON-based meme coins that have <\/span>seen the light of day recently<\/span> and performed quite well include Suncat (SUNCAT), Dragon Sun (DRGN), FoFar (FOFAR), and many more.<\/span><\/p>\n

The post Big Win for TRON Investors as TRX Price Tapped 39-Month High: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR TRX has surged over 30% in the past two weeks, now trading near $0.17, and has entered the top 10 cryptocurrencies by market cap, surpassing $14.5 billion. Currently, all of the asset\u2019s holders are sitting on some paper profits. TRX\u2019s Solid Performance TRX \u2013 the native token of Tron \u2013 has been among the […]<\/p>\n","protected":false},"author":0,"featured_media":1221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1220"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1220"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/1221"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}