Price Analysis

TRX Price Analysis: Tron CEO’s Announcement Stunt Fails; Impact is Likely on Tron Coin

eToro
  • Justin’s alleged childish Warren Buffet Lunch Stunt is likely to bring slowness for Tron.
  • The price of TRON coin may reach up to 0.055 USD by the end of 2019.

For the last few days, Tron (TRX) has been trending in the crypto world as its CEO tweeted about launching something big. The anticipation of great news helped the coin to inflate by 20% in just 1 day. The announcement by Justin Sun also helped the coin to add 600 million USD worth of market cap. But when it comes to revealing the news, it was not that great after all. As per the confirmation, Justin Sun is the mystery bidder who won a charity lunch auction to dine with Warren Buffet on the 20th anniversary of Buffett’s annual charity “power lunch” auction. Justin got this after spending $4.5 million. This seems to have acted negatively for Tron (TRX). Justin’s alleged childish behavior made the coin lose 3% in hours after the announcement. However, the fall is not likely to last for a long period. The value will rise and likely to reach 0.055 USD by the end of 2019. Let us look at the current figures of the coin.

Tron Price Current Statistics-

Tron price chart - June 4

eToro Crypto
Tron (TRX) 04th June 01:43 UTC
Rank 12th
ROI (Return on Investment) 1,534.07%
Circulation 66,682,072,191 TRX
Market Cap 2,257,850,895 USD
Value in USD 0.03312248 USD
Value in BTC 0.00000422 BTC
24h Volume 1,506,171,669 USD

TRX Price Comparison-

Tron (TRX) started the year with a very low price at 0.019 USD. However, it soon started gaining by a huge margin right after the start. But contrary to the investors’ wait, the hike was not a long-standing one. Another low point of the coin was on 11th March at 0.022 USD, and from there it gained 35.71% of its value in just 28 days. The market cap on the 4th May was 1,556,108,960 USD, and the value of each coin was 0.02407790 USD. The current market cap and the value of each coin are respectively 45.09% and 37.56% more than the figures for last month.

TRX Price Predictions-

Tron’s growth has been promising in the market. The resistance points upcoming for the coin is likely to be at 0.038 USD and 0.042 USD. By the end of 2019, the coin’s value may reach as high as 0.055 USD to 0.06 USD level.

Conclusion-

As the coin may go to a price correction phase, jumping to buy fresh coins is not a good idea. New investors should wait for the lowest price point. Long-term holding is the key here.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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