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Cryptocurrency News Articles

Justin Sun Predicts an Astonishing $20 Price Target for TRX, Set to Explode After Seven Years of Compression

Nov 18, 2024 at 10:30 pm

Justin Sun, the founder of the Tron blockchain, predicts an astonishing $20 price target for TRX. Sun shared this bold outlook on Twitter

Justin Sun Predicts an Astonishing $20 Price Target for TRX, Set to Explode After Seven Years of Compression

Justin Sun, Tron founder, predicts TRX will reach an astonishing $20 as part of an anticipated breakout.

Justin Sun, the founder of the Tron blockchain, has reacted to an analyst's prediction for TRX's potential in the current bull market with an astonishing outlook. The Tron founder predicts that TRX will be valued at an impressive $20 once the projected breakout occurs.

Sun's bold price target for TRX is in response to an analyst's prediction that seven years of price compression during the bear super cycle on Tron could culminate in an explosive breakout. The analyst suggests that the breakout could propel TRX to over $20 as early as this year.

It's 20 $, not 20 cents https://t.co/0JxtKiAxzE

Tron (TRX) set to explode after seven years of compression

According to X, analyst Intuit Trading cautioned crypto market participants not to be surprised if seven years of price compression during the bear supercycle on TRON ends with explosive upside momentum — possibly driving TRX to over $20 as early as this year.

It is noteworthy that TRX has been trading below its all-time high of $0.30004 for seven years. The asset failed to reach a new peak in 2021 despite the bull momentum sparked by Bitcoin’s ($BTC) $69K peak. However, the analyst believes that TRX could set a new all-time high in this cycle. Currently, TRX is trading just 31% below its seven-year-old all-time high.

Tron founder Justin Sun shares the belief that TRX could reach $20 once the breakout occurs.

At its current price of $0.2048, reaching $20 would require a 97-fold increase or a 9,665% gain. With a circulating supply of 86.38 billion TRX, a $20 price tag would elevate the asset’s market capitalization to over $1.7 trillion — turning it into a trillion-dollar asset.

$20 just the beginning

In a follow-up comment, Intuit Trading suggested that $20 may only be the beginning for TRX. The analyst believes that with the dollar’s ongoing collapse and rising inflation over the next few decades, Tron’s value could continue to rise much higher.

According to the analyst, the real question is not whether TRX will reach $200 or $2,000, but when — and that moment may arrive sooner than most expect.

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News source:coinedition.com

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Other articles published on Nov 19, 2024