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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 X that the TRON community’s proposal No. 92 has now taken effect, raising the energy limit to 120 billion. With the increased energy cap, TRX stakers will be able to conduct more transactions, reduce gas fees, and enhance network activity.
Proposal No. 92 of the TRON community is now in effect, raising the energy cap to 120 billion. This means more transactions for TRX stakers, lower Gas Fees, and increased network activity. I’m impressed by the TRON community’s execution. https://t.co/RbwJvQ75Ds
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 25, 2024
TRON Price To Breach Its Current Resistance
In the last week, the TRON price has been on an upward trend, rising through an ascending channel pattern in the last 4 days as the bulls struggled to overcome the $0.175 resistance, according to data from GeckoTerminal.
TRX now trades above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart, affirming the current bullish stance.
Additionally, the Relative Strength Index (RSI) is trading up towards the 70-overbought region, currently at 62, as buying pressure 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 that 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.
However, in an inverse scenario, if the bears take control of the price at this level, TRX could plunge. The 50 SMA at $0.15 could then act as the immediate support zone.
Meanwhile, investors are buying the new Olympic-themed meme coin, The Meme Games ($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 offers crypto enthusiasts 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.
CRYPTO BREAKING NEWS
The Meme Games raises over $100K on opening day of presale. The Meme Games presale raises over $100K in its first 24 hours, capturing attention in the booming memecoin sector. #partnercontent check us out @ https://t.co/8dh137buUp pic.twitter.com/YwzyP2glE4— InnovatekMobile (@Neome_com) July 17, 2024
Here, investors support a meme character of their choice, which acts as an athlete competing in the blockchain version of the Olympics. Should they win, their backers will earn a 25% bonus.
As a token holder, you can earn passively through the project’s staking mechanism as well. 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, you will want to buy soon to lock in the best deal.
To join the presale, buy $MGMES from the official website using ETH, BNB, USDT, or a bank card. Buy now to win a 25% bonus on your investment.
Purchase and stake $MGMES here for the 489% APY before its price increases.
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