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The Tron price dropped 6% in the last 24 hours to trade at $0.1564 as of 6.15 a.m. EST on trading volume that dropped 18% to $1.5 billion.
The Tron price has dropped even as CEO Justin Sun predicts that the project’s revenue could hit $4 billion in the next 12 months.
He said that the revenue will be driven by its new meme coin strategy for the Tron network, with the TRX price potentially rising to $0.30.
Conservatively, in the next 12 months, TRON’s total revenue could hit $3 billion, with $1 billion burned and $2 billion given as rewards to stakers and for transaction subsidies. If the meme strategy succeeds, it could reach $4 billion. https://t.co/huuInHuMaN
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 21, 2024
However, while TRX did rise to $0.1651, hitting this level only yesterday, its price has corrected to $0.15 since.
Right now, the wider crypto market is experiencing another bullish trend, but many cryptos, including TRX itself, are seeing price fluctuations.
After yesterday’s surge, TRX corrected, only to start recovering again, as traders react to the price movements and buy and sell based on technical indicators.
Another reason for the recovery was Sun’s recent announcement that a new version of the SunPump meme will be launched today, August 22, which will significantly improve stability, according to his post.
Tomorrow, a new version of @sunpumpmeme will be launched, significantly improving stability. The data discrepancies and K-line issues that everyone reported will also be fully resolved. TO THE SUN 🌞
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 21, 2024
This is, presumably, the next step in the project’s meme strategy, which will resolve recent issues that many have been reporting.
Tron Price Prediction
Tron’s price has seen quite a bit of volatility in the last few days. Initially surging from $0.1317 to $0.1656, the coin corrected to $0.1484 in the last 24 hours.
From there, it started another recovery which took it to $0.1564, but technical indicators suggest that another correction might start soon.
Tron’s Bollinger bands remain fairly wide for now, and the price is still pushing the upper band, although it is starting to show signs that its momentum is weakening.
As a result, it could soon drop back down to the middle point between the two bands, or spiral down to the lower band, as it did several times earlier this week.
On the other hand, the coin’s Relative Strength Index (RSI) value has reached the overbought area once again, which could signal another drop.
The RSI previously dropped to the oversold zone last night, which caused traders to start buying the dip. This pushed the price into a recovery, which, in turn, brought in more buyers.
However, now that the RSI value has entered the overbought zone, traders might move in to take profit and start another correction.
Promising Alternatives to Tron
There are several worthy alternatives to Tron that investors can consider. One analyst favorite is The Meme Games (MGMES), a project that launched in honor of the 2024 Olympics by announcing its own meme Olympics
In other words, the project introduced five athletes, each of which is an iconic personality from the meme coin sector.
They are Dogecoin, Pepe, Dogwifhat, Brett, and Turbo. By joining its ICO, investors can select one to be their champion. The five athletes will then compete in various Olympic disciplines, and the one that wins will secure rewards for investors who chose them.
The only thing to note is that you must join the ICO in order to pick a competitor, and if you ever decide that you wish to switch to another one, all you need to do is make another MGMES token purchase.
However, the ICO will not last for much longer, as The Meme Games’ team recently announced that the presale will be concluded on September 10.
Wondering why you can't see your $MGMES tokens? 🧐
They won’t appear in your wallet until after the presale ends on September 10th, when you'll be able to claim them from our website. ⚡️
To check your purchased tokens before then, simply connect your wallet to the purchase…
— The Meme Games (@MemeGames2024) August 13, 2024
There is still enough time to join and thoroughly research the project, but the clock is ticking, and the MGMES price continues to rise as the presale progresses through different phases.
So far, the ICO raised over $378.9k, while its token currently sells for $0.0093. With a price hike due in less than 3 days, interested investors should buy soon to secure the best deal.
YouTuber ClayBro, with more than 130k subscribers, says MGMES is a hidden gem with 100x potential.
Visit the official MGMES website here.
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