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Justin Sun’s Tron Price Prediction As Community Hikes Network Energy Cap To 120 Billion, But Traders Shift Focus To This 100X Crypto

InsidebitcoinInsidebitcoin2024/08/26 11:43
By:Insidebitcoin

The TRON price jumped 4% in the last 24 hours to trade at $0.1665 as of 03:37 a.m. EST on trading volume that soared 41% to $1.1 billion.

This comes after Justin Sun announced on his social media platform that the TRON community’s proposal No. 92 has now taken effect, raising the energy limit to 120 billion. The energy cap will allow TRX stakes to conduct more transactions, reduce gas fees, and enhance network activity.

TRON Price To Breach Its Current Resistance

In the last week, the TRON price has been on an upward trend, rising through a rising channel pattern in the last 4 days, as the bulls struggled to overcome the $0.175 resistance, data from GeckoTerminal shows.

TRX now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the current bullish stance.

Additionally, the Relative Strength Index (RSI) is trading up towards the 70-overbought region, currently at 62, as the buying intensifies.

The Moving Average Convergence Divergence (MACD) is soaring over the neutral zone, a signal that the asset is currently on an uptrend. Moreover, the blue MACD line is trading above the orange signal line, forming a bullish crossover, which could prompt a bullish rally.

Based on the TRON price analysis on the TRX/USD 4-hour chart, the main indicators show that TRX could sustain its current bullish run, as the bulls target $0.19.

TRXUSD Chart Analysis Source: GeckoTerminal.com

However, in an inverse scenario, if the bulls take control of the price at this level, TRX could plunge, with the 50-day SMA at $0.15 acting as the immediate support zone.

Meanwhile, investors are buying the new Olympics-themed meme token, The Meme Games (MGMES) , which has already amassed over $396K in its presale.

According to Jacob Bury, a popular crypto analyst on YouTube, $MGMES has the potential to surge 10X after its launch.

 

The Meme Games Presale Amasses Over $396K – Best Meme Coin To Buy Now?

The Meme Games is an innovative project blending the thrill of the Olympics with the playful world of meme coins. It provides crypto enthusiasts with a competitive and entertaining presale event where participants can earn significant token bonuses.

The concept revolves around popular meme characters competing for gold, capturing the excitement of the recent 2024 Olympics.

Here, investors support a meme character of their choice, which acts as athletes competing in the blockchain version of the Olympics, and their wins will earn their backers a 25% bonus.

As a token holder, you can earn passively through the project’s staking mechanism. All you have to do is buy and stake $MGMES for an annual percentage yield (APY) of 489%.

You can buy $MGMES tokens now for $0.00935 each. With a price hike coming in less than five days, buy soon to lock in the best deal.

To join the presale, buy $MGMES from the official website here using ETH, BNB, USDT, or a bank card. Buy now to win a 25% bonus on your investment.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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