Tron (TRX) Memecoins May Be Primed for a Second Wave of Growth

Tron (TRX) is showing strong signs of growth, driven by impressive address profitability and active community support. As highlighted by H.E. Justin Sun

Cryptocurrency price movements in the last 24 hours have largely been positive, with many coins showing gains. Among the top performers are TRX, which rose by 1.85%, and BNB, which saw a 2.04% increase.

However, some coins, such as GMT and APE, experienced slight losses, impacting their overall price trajectories.

Here's a snapshot of the price movements for some of the major cryptocurrencies, as reported by CoinEdition at the time of writing.

TRX Surges: Tron Memecoins Anticipate a Second Growth Wave

Tron (TRX) is showing strong signs of growth, driven by impressive address profitability and active community support.

As highlighted by H.E. Justin Sun, founder of TRON, with TRX’s price on an upward trend, investors are watching for a potential surge in Tron-related memecoins.

“I believe Tron memecoins are about to experience a second wave of growth.

With continuous building and community development, Tron has been steadily progressing.

Once TRX breaks its previous high, the FOMO for Tron memecoins won’t be far behind.”

This growth phase differs from previous rallies, which featured more widespread market attention and trends like the Tron meme season.

Currently, Tron’s growth is more subdued, presenting a unique opportunity for those closely following market trends.

High Profitability Signals Strong Investor Confidence

One sign of TRX’s strength is the high profitability of its addresses. This is further corroborated by Satoshi Club noting that 99.8% of TRX addresses, totaling about 153.24 million, are currently profitable.

This profitability level shows a strong level of investor confidence in TRX, with the majority of holders seeing gains even amid broader market fluctuations.

This high profitability often signals positive market sentiment, which could lead to further price increases.

Key Support and Resistance Levels for TRX

TRX’s technical chart shows important support and resistance levels. A key support level is around $0.1636, where the price recently found support.

This level has previously cushioned declines, marking it as an important area for traders if the price experiences a pullback.

On the upside, the resistance stands at $0.167, which has acted as a ceiling. TRX has touched this level but has not yet broken through.

This resistance, if broken, could pave the way for a bullish breakout, pushing TRX toward the next psychological level of $0.17, which may attract further buyer interest and signal stronger upward momentum.

Increased Volume Supports Bullish Trend

Moreover, the 24-hour trading volume for TRX is $372.20 million, marking a 4.67% rise. This increase in volume often supports a bullish trend as higher trading activity typically accompanies positive price action.

In the last day, TRX has gained 1.85%, moving upward from its recent lows. This trend signals potential for more upward momentum, particularly if TRX successfully breaches its resistance level.

If TRX can overcome the $0.167 resistance, it may move towards $0.17 and potentially higher.

However, if it fails to break through, it may experience a temporary pullback to the $0.1636 support level.

The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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