Tron (TRX), the native token of the Tron blockchain, has soared into the top 10 cryptocurrencies by market capitalization. It now holds the 10th position with a market cap of $12.49 billion, surpassing major players like Cardano, Avalanche, and others.
Meme Communities Eye Tron Ecosystem
Tron’s recent climb in the rankings coincides with a significant announcement from its founder, Justin Sun. Sun revealed that several prominent leaders from meme communities have expressed strong interest in joining the Tron ecosystem. These leaders are eager to bring millions of users to Tron, signalling the platform’s growing appeal.
Why Meme Communities Are Attracted to Tron?
The potential influx of meme coin fans onto the Tron blockchain could lead to increased network activity and higher value. Tron’s appeal lies in its high-speed transactions, low fees, and robust infrastructure. Additionally, Tron offers perks like native MEV protection, making it an attractive option for meme communities looking to expand their reach.
Tron’s Technical Strengths
Tron’s ability to handle 2,000 transactions per second positions it strongly to attract the next wave of crypto users. Justin Sun also emphasized that Tron’s greatest strength is its $60 billion in TRON USDT liquidity pool—a figure unmatched by any other blockchain protocol.
TRX Price Analysis: A Bullish Trend?
The technical analysis of TRX’s price chart shows several positive indicators, suggesting a possible bullish trend. On the 4-hour chart, TRX is trading above the 100-day Simple Moving Average (SMA), which indicates growing market confidence.
Recently, TRX formed a bullish trend line with support at $0.1430 on the hourly chart. If this trend continues, TRX could aim for $0.1480 and potentially reach $0.1520. Breaking above the $0.157 resistance level might push the price toward its all-time high of $0.1804.
Current TRX Market Status
TRX is trading at $0.144, marking a 6.4% increase in the last 24 hours. Its market capitalization is $12.49 billion, with a daily trading volume of nearly $733 million.
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