Tron (TRX) Price Signals Imminent Bullish Breakout Fueled by Its Meme Coin Mania

TRX price has been forming a macro bullish pattern amid the rising adoption of the Tron chain.

The Tron ecosystem has more daily active addresses and revenue collected than the Ethereum network.

he recent past.

From a technical analysis point of view, TRX price in the weekly time frame has been forming a macro ascending symmetrical triangle for the past six years.

With TRX price having underperformed in the 2021 crypto bull run, compared to most of the altcoins, the core team led by Justin Sun has made significant progress to ensure a difference this time.

Why Tron Network Standouts in the Blockchain Space

The Tron network has grown into a major web3 ecosystem in the recent past, only second after Ethereum . According to the latest market data, the Tron network had a total value locked (TVL) of over $7.4 billion and a stablecoins market cap of more than $60 billion as of this writing.

On the other hand, the Ethereum network had a TVL of about $48 billion and a stablecoins market cap of over $84 billion. The Tron network, however, outpaced the Ethereum network in fees colle

On October 15 this year, #TronNetwork’s revenue was $7.28M, compared to $2.69M last year, a 170% increase year-over-year.https://t.co/Q3YRJa7JuB pic.twitter.com/C7YnCayAbd

— Lookonchain (@lookonchain) October 16, 2024

On October 15 this year, ‘s revenue was $7.28M, compared to $2.69M last year, a 170% increase year-over-year.

— Lookonchain (@lookonchain)

he notable rise in Tron’s popularity can majorly be attributed to its rising meme coin ecosystem. As of this writing, Tron’s meme coins had a market cap of over $373 million and a daily average traded volume of over $97 million.