TRX, the native token of the <a href="https://www.cryptoknowmics.com/news/brian-armstrong-weighs-in-on-deadlift-etf-twitter-chat/" target="_blank" rel="noopener">TRON</a> blockchain, experienced a remarkable 12% surge, making it the top-performing cryptocurrency of the day. The token reached a high of $0.1594 on August 21, marking its strongest performance since April 2021. This price surge was accompanied by a 121% increase in daily trading volume, which soared to approximately $1.92 trillion.
<h3>Memecoin Mania Fuels TRON’s Growth</h3>
[embed]https://twitter.com/justinsuntron/status/1825614186363367805[/embed]

The recent price hike appears to be driven by the launch of SunPump, a TRON initiative aimed at capitalizing on the memecoin trend. Since its introduction, SunPump has generated significant revenue, with over 18,000 memecoins on the platform amassing 7,080,777 TRX (about $1.12 million) as of the latest reports. This surge in activity is also reflected in the TRON network’s transaction volume, which has increased by over 1045% since the beta launch of SunPump on August 13.
<h2>Justin Sun’s Vision for TRON</h2>
Justin Sun, the founder of TRON, has been actively engaging with the community, revealing that major memecoin community leaders are showing interest in transitioning to the TRON ecosystem. Sun’s recent discussions with these leaders suggest a potential influx of millions of users to TRON, which could further boost the network’s transaction volume and overall activity.
<h3>Technical Indicators and Cautionary Signals</h3>
While the price of TRX continues to climb, technical indicators suggest caution. The token’s price is currently trading above the upper Bollinger Band at $0.1532, indicating it may be overbought. Additionally, the Relative Strength Index (RSI) stands at 79.09, above the 70 threshold, signaling strong upward momentum but also the potential for a market reversal or consolidation.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

TRON Surges 12% as SunPump Launch Fuels Memecoin Hype

TRX jumps 12% amid memecoin hype and rising community interest, reaching highs not seen since April 2021.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

TRON Surges 12% as SunPump Launch Fuels Memecoin Hype

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