Get started

Justinsun

Ethereum’s Resilience Amid Justin Sun’s $143M ETH Sell-OffEthereum ( CRYPTOCAP:ETH ), the second-largest cryptocurrency by market capitalization, faces a challenging period as Tron's Justin Sun continues his massive ETH sell-off. Despite these bearish signals, Ethereum has managed to hold a critical support zone, maintaining market confidence. Let’s delve into the technical and fundamental aspects of the current ETH landscape. Justin Sun’s ETH Selling Spree: A Bearish Catalyst Justin Sun, the founder of Tron, has been systematically reducing his Ethereum holdings. Recent blockchain analytics reveal that Sun sold 39,999 ETH (worth $143 million) via Lido Finance and EtherFi, subsequently depositing the proceeds into HTX. Since November 10, Sun has offloaded a total of 108,919 ETH, valued at $400 million, at an average price of $3,674. With 42,904 ETH ($139 million) still in the process of unstaking, more selling pressure could loom on the horizon. These actions have amplified concerns among investors, with Ethereum experiencing a 17% dip after failing to breach the $4,000 resistance level. Analysts predict further downside potential, with prices possibly dropping below $3,000 before any significant recovery. Ethereum’s Technical Outlook - Price: $3,347.81 (up 2.13% intraday) - Relative Strength Index (RSI): 40.88, indicating weak momentum but improving from a recent low of 35. - On-Balance Volume (OBV): Stable, suggesting buying pressure has not fully diminished. Ethereum is currently trading in a consolidation zone, showing resilience despite external pressures. Immediate support lies near the one-month low of $3,100, a critical level for maintaining bullish sentiment. Resistance Levels - Key Resistance: $3,700 (short-term breakout zone). - Ultimate Resistance: $4,000 (bullish threshold for a sustained rally). Breaking above $3,700 could signal a bullish reversal, while a move past $4,000 would reinforce Ethereum’s upward trajectory. Bearish Factors - Whale Activity: Continued sell-offs by major holders like Justin Sun. - Market Sentiment: Bearish outlook fueled by Ethereum’s inability to hold $3,500 support. Bullish Indicators - Resilient Buyers: Recent buyers remain in profit, offering support to the market. - Volume Analysis: Despite low weekend trading volume, the market has shown signs of consolidation. Market Sentiment and Outlook Ethereum’s price action reflects a market grappling with external pressures and internal resilience. While Sun’s sell-off has intensified bearish sentiment, Ethereum has managed to stabilize above critical support zones. Short-Term Prediction - If selling pressure persists: Ethereum may test $3,000 support. - If bullish momentum builds: Breaking $3,700 could lead to a retest of the $4,000 level. Conclusion Ethereum remains at a pivotal point. While whale sell-offs, particularly from Justin Sun, pose challenges, the technical outlook shows signs of stability and potential recovery. For traders, monitoring key levels—$3,000 for support and $3,700-$4,000 for resistance—is crucial in navigating this volatile phase. As the crypto market matures, Ethereum’s ability to weather external pressures will define its long-term value proposition. Stay informed and prepared for both opportunities and risks ahead.
BINANCE:ETHUSDLong
by DEXWireNews
TRX | TRON Goes BananasTRON Goes Full Banana Mode : Breaking Records and Throwing Peels at XRP! TRX is up 500% since our first signal , so it’s officially time to party! order some lambos buy some bananas and let’s celebrate like crypto maniacs🎉🚀🍌 Currently priced at $0.38, it’s up a whopping +70% in just 24 hours. That’s the kind of growth that makes even Bitcoin blush. Speaking of records, TRON hit an all time high of $0.43 today, December 4, 2024, but it’s cooled off a bit, sitting just 10% shy of that milestone. With a circulating supply of 86.29 billion TRX tokens (maxed out at the same number, like an all-you-can-eat buffet that’s finally closed), TRON isn’t playing around. Its 24 hour trading volume? A casual $5.50 billion, mostly on Binance, which is practically TRX’s second home. TRON now claims 0.90% of the entire crypto market, flexing a $33.60 billion market cap! After altcoins like DOGE, XRP, HBAR, and XLM strutted their stuff, TRX stormed onto the scene and stole the show. Yesterday, it rocketed from $0.23, smashed through its 2018 ATH like a Kool-Aid man, and set its sights on $0.43. This price explosion wasn’t just luck or hype. TRON’s ecosystem has been buzzing with activity. It’s dominating Tether transactions, launching flashy projects like Sun.Pump (sounds like a cryptocurrency gym), and riding on the relentless promotional energy of founder Justin Sun. He’s been spending cash like a kid in a candy store, including a hefty investment in Donald Trump’s crypto project and yeah the 6.2 million dollar BANANA was the main factor! Speaking of Sun, he stirred the pot on Twitter by cryptically declaring, “TRX = XRP.” Bold move, Justin. For context, XRP skyrocketed after Trump’s election win and SEC Chair Gary Gensler’s dramatic exit. At one point, it gained over 420% in a month. XRP also hit a multi-year high this week near $3 and climbed to become the third-largest cryptocurrency by market cap. TRX’s comparatively “modest” monthly surge of 135% isn’t as flashy, but hey, breaking an all-time high is still a flex. TRON’s market cap is about 5x smaller than XRP’s for now, but in crypto, anything can happen. With this much drama, who needs Netflix? Always take profits, enjoy your trades, and celebrate your wins
by moonypto
TRX on the RiseThe recent surge in the price of TRON ( CRYPTOCAP:TRX ) has set the digital asset space abuzz, which has now caught the market's eye more than ever following bold statements from its founder, Justin Sun. Sun's comparison of TRX to XRP, especially in the wake of XRP's significant rally, has not only sparked investor interest but also reignited discussions about TRON's potential in the altcoin market. Here, we delve into both the technical and fundamental aspects that are driving TRX's current market dynamics. Fundamental Analysis: Project Vision and Utility: TRON was conceived to revolutionize digital content ownership by empowering creators directly with blockchain technology. Since its inception in 2017, TRON has evolved from an ERC-20 token on Ethereum to its own independent network. This transition underscores its commitment to providing a platform where content creators can earn directly from consumers without intermediaries. This model of direct-to-consumer interaction could be pivotal as digital content consumption grows exponentially. Market Position: With a current market cap hovering around $20 billion, TRX ranks among the top cryptocurrencies, indicating robust investor confidence. The platform's focus on decentralized applications (dApps) and its support for smart contracts places it in competition with giants like Ethereum, yet TRON distinguishes itself by targeting the content creation sector, potentially carving out a unique niche. Leadership Influence: Justin Sun's active engagement on social platforms, where he likened TRX to XRP, plays a significant role in shaping market sentiment. His vision for TRON as the "next XRP" taps into the current narrative where XRP has shown substantial growth due to legal clarifications and market sentiment shifts. Sun's comparison might not just be about price but also about TRX's potential role in the global financial ecosystem. Technical Analysis: Price Movement: TRX has experienced a notable rally, with a 17% increase in a single day, pushing its price to $0.236. This surge has been accompanied by a dramatic rise in trading volume, up 116% to $2.49 billion, demonstrating strong market interest. Over the past week and month, TRX has shown gains of 23% and 44%, respectively, illustrating a consistent upward trajectory. Technical Indicators: Relative Strength Index (RSI): Currently at 80, the RSI suggests that TRX is in overbought territory, which might hint at an impending correction or consolidation. Investors should watch for potential pullbacks to the 38.2% Fibonacci retracement level as a buying opportunity if the selling pressure subsides. Three White Soldiers: The recent chart pattern, known as 'Three White Soldiers', indicates a strong bullish trend, where three consecutive long-bodied candlesticks signal a reversal from a downtrend to an uptrend, reinforcing the current momentum. Market Sentiment: Despite signals of potential overbuying, the market sentiment around TRX remains bullish, fueled by Justin Sun's statements and the general altcoin market dynamics. The increase in futures open interest to $184.82 million suggests that traders are betting on further price increases. Market Reaction and Future Outlook: Speculation and Hype: The market's reaction to Sun's statements has been immediate and positive, with investors jumping on the bandwagon, speculating that TRX could indeed follow XRP's path. However, the sustainability of such a surge depends on more than just hype; it requires continuous development and adoption of TRON's ecosystem. Challenges Ahead: While the comparison with XRP is compelling, TRX must navigate its challenges, including competition from other blockchain platforms, the need for more widespread adoption of its dApps, and maintaining its technological edge. Investor Strategy: Given the technical indicators, short-term traders might look for entry points during any dips or consolidation phases. For long-term holders, the focus should be on TRON's adoption rate, partnerships, and the expansion of its DeFi ecosystem as these will likely be the true drivers of sustained value growth. Conclusion: TRON's recent rally, bolstered by Justin Sun's provocative comparison to XRP, has indeed placed it under the spotlight. While the immediate future might see some volatility due to overbought conditions, the fundamental vision of TRON, coupled with its technical performance, suggests a cryptocurrency with significant growth potential. Investors and traders should keep a close eye on both the technical charts and the broader market trends, as well as TRON's strategic moves in the blockchain space, to make informed decisions. However, as always, the crypto market's unpredictability requires caution and a well-thought-out investment strategy.
BINANCE:TRXUSD.PLong
by DEXWireNews
4
TRX Surging: Sun’s $6.2M Banana Purchase Sparks Market BuzzJustin Sun Buys "Comedian" for $6.2M In a move that blends art, memes, and crypto culture, Justin Sun, the founder of TRON, has acquired Maurizio Cattelan’s iconic artwork, *Comedian*, at a Sotheby’s auction for $6.2 million. The infamous banana duct-taped to a wall has sparked debates in both the art and cryptocurrency communities. Sun described the artwork as a “cultural phenomenon” and plans to honor its quirky legacy by eating the banana 🍌 in the coming days. This purchase, according to Sun, symbolizes a bridge between traditional art and the digital revolution, showcasing TRON’s innovative spirit and cultural relevance. TRX: Riding the Momentum The news of this high-profile purchase appears to have given CRYPTOCAP:TRX a boost in the market. The token is up 2.76%, trading within a bullish channel. The technical indicators point to a strong upward momentum: - RSI: At 69, TRX is edging toward the overbought zone, signaling strong buying pressure. - Chart Pattern: A bullish engulfing pattern suggests continued upward movement. - Moving Averages: TRX is comfortably trading above key MAs, adding to the bullish sentiment. A Stable Anchor in Volatile Waters* Justin Sun’s strategic moves have helped CRYPTOCAP:TRX maintain stability amid market fluctuations. By aligning the token with headline-grabbing cultural events, Sun ensures TRON remains relevant and appealing to investors. As CRYPTOCAP:TRX continues to trade within a stabilized threshold, it seems poised to attract more attention from both crypto enthusiasts and art lovers. The innovative combination of art and blockchain could lead to more institutional interest in the token. Final Thoughts Whether it’s a $6.2M banana or blockchain innovation, Justin Sun knows how to keep the spotlight on TRON. With CRYPTOCAP:TRX maintaining a strong technical position and benefiting from renewed attention, the token could see further gains in the coming weeks. Will the banana become the spark for TRON’s next big rally? Stay tuned.
BINANCE:TRXUSD.PLong
by DEXWireNews
Justin Sun’s Vision and the Growth of Tron’s Memecoin EcosystemJustin Sun, the visionary behind Tron, is sparking fresh excitement in the memecoin arena with his strategic moves and groundbreaking developments on the network. With the recent launch of SunPump, a platform designed to bolster memecoin creation on Tron, Sun is preparing for a “second wave” of memecoin growth, backed by continuous development, strategic community involvement, and robust ethical standards. A New Era for Tron’s Memecoins Sun believes the next growth cycle for Tron’s memecoins is imminent. He’s actively promoting a community-driven approach, which he feels is key to sparking fresh investment and driving adoption. The memecoin wave aligns with the overall growth of Tron’s native token, AMEX:TRX , which experienced a 24% boost in market capitalization in Q3 2024 alone—from $11 billion to $13.5 billion. Tron’s commitment to memecoin culture is part of a larger push to position AMEX:TRX among the top 10 cryptocurrencies, where it currently stands close behind giants like XRP and Dogecoin. Technical Outlook: TRX’s Rising Deflationary Mechanism One significant factor driving TRX’s recent performance is its robust deflationary model. With a capped total supply of 100 billion tokens, TRX's circulating supply dropped from 87.2 billion to 86.62 billion in Q3, thanks to an intensified burn schedule that increased its annual deflation rate to -2.7% from -2.4%. This steady reduction in circulating supply is a powerful mechanism that can potentially support higher valuations by restricting token availability. In August alone, Tron ( AMEX:TRX ) witnessed its largest-ever single-day burn on the SunPump platform, where 270 million AMEX:TRX tokens, valued at $42 million, were removed from circulation. This burn policy has helped sustain positive price momentum for AMEX:TRX , contributing to a 1.83% increase, currently hovering at $0.17. TRX’s pairing with BTC has also gained traction, with a notable 25% increase driven by the popularity of SunPump and heightened USDT transactions on the Tron network. SunPump’s Impact on the Tron Ecosystem SunPump’s launch marks a bold step into the world of memecoins, with SunPump acting as both a “meme fair” and a streamlined platform for creating new meme tokens on Tron’s blockchain. This initiative aims to simplify the process of memecoin creation, making it accessible to developers and investors who wish to engage with this growing market sector. SunPump has already made a splash, inspiring tokens like $SUNDOG and $TRONBULL, which rapidly gained popularity and captured the attention of the wider crypto community. Ethical Guidelines for AI Memecoins In a nod to Asimov’s Three Laws of Robotics, Sun has crafted “The Asimov Three Laws of AI Meme Coin Ethics” to ensure a fair and ethical framework for AI-driven memecoin projects on Tron. These rules emphasize that AI should avoid self-serving activities, prioritize human interests, and maintain the integrity of its own projects without harming others. Sun’s adaptation of Asimov’s principles for AI highlights Tron’s dedication to responsible innovation within the memecoin space, promoting a sustainable approach for this rapidly growing digital landscape. Technical Indicators The technical analysis for AMEX:TRX shows an optimistic outlook as the token attempts to break out of a short-term falling wedge pattern, a typically bullish indicator. Currently, AMEX:TRX has an RSI of 66, which places it in a favorable position to sustain upward momentum as it consolidates at a key support level. With Total Value Locked (TVL) in Tron reaching $7.164 billion and stablecoins pegged to the Tron network boasting a market cap of $60.34 billion, the Tron ecosystem is well-capitalized and primed for future growth. Conclusion As Tron cements its role in the memecoin space with SunPump, it has positioned itself as a blockchain with both strong technical fundamentals and a vibrant community. With TRX showing consistent growth, driven by strategic deflationary measures and a surging TVL, Tron’s prospects for continued expansion in the memecoin market look bright. Sun’s ethical guidelines for AI-driven memecoins also underscore Tron’s commitment to innovation with responsibility, making Tron a pioneering force in the memecoin space poised for the next wave of growth.
Long
by DEXWireNews
SUN/USDT Breakout Alert: Ready for 200-300% Gain!!Hey everyone! If you're enjoying this analysis, please give it a thumbs up and follow! SUN is showing strong potential! It has broken out of a bull flag structure on the daily time frame and is holding above the flag, signaling a bullish move. Buy now and accumulate more on dips for maximum gains! Entry range: CMP and accumulate up to $0.0185 Target: 200-300% potential upside Stop Loss (SL): $0.0158 What do you think of SUN's current price action? Are you spotting a bullish setup? Share your thoughts and analysis in the comments below!
Long
by CoreCrypto1
1
WARNING : Wrapped Bitcoin $WBTC Will Be DEPEGGED on October 8th!**** BINANCE:WBTC WILL BE DEPEGGED ON OCTOBER 8TH **** BitGo has entered into a controversial partnership with Justin Sun. Anything Justin Sun has touched, has gone to ZERO. On October 8th, Justin Sun will have control/custody over Wrapped Bitcoin. When Justin Sun took over Huobi BTC, it depegged immediately. The same thing will happen to Wrapped Bitcoin on October 8th. If you have BINANCE:WBTC , you have a very limited time window to take a measure and protect your capital. BINANCE:WBTC will not be 1:1 backed by BTC starting October 8th.
WShort
by couldntcomeupwithone
2
TRON’s $4 Billion Ambition: Justin Sun’s Bold Bet on Meme CoinsIn a move that could redefine the trajectory of the TRON network, Justin Sun, the founder and CEO of TRON ( BINANCE:TRXUSDT ), has forecasted an ambitious revenue target of $4 billion for the coming year. This projection, if realized, would be a landmark achievement for the blockchain platform, driven by a strategic pivot towards meme coins and adjustments to network fees. The $4 Billion Revenue Peak Justin Sun’s bold prediction isn’t just a number plucked out of thin air. The $4 billion target is rooted in a comprehensive strategy that leverages TRON’s strengths while embracing the growing influence of meme coins in the cryptocurrency market. Sun anticipates that $3 billion in revenue is a conservative estimate, with the potential to exceed $4 billion through network optimizations and community-driven initiatives. Sun has laid out a plan where $1 billion of this revenue will be ‘burned’—a practice that effectively reduces the supply of CRYPTOCAP:TRX , potentially increasing its value. The remaining $2 billion is earmarked for stakers and to cover transaction fees, creating a more attractive ecosystem for users and investors alike. The Meme Strategy: A New Frontier Central to Sun’s revenue forecast is TRON’s renewed focus on meme coins—a category of cryptocurrency that has gained significant traction in recent years. Sun believes that the community-driven nature of meme coins aligns well with the decentralized ethos of TRON ( BINANCE:TRXUSDT ), making it a strategic growth area. The launch of SunPump, a meme token launchpad on the TRON network, is a testament to this strategy. Despite being just 11 days old, SunPump has already generated over $1.1 million in sales, indicating strong market interest and potential for further growth. Network Adjustments: Lower Fees, Higher Capacity To support this ambitious growth, Sun has proposed lowering transaction fees and raising the energy limit on the TRON network. These adjustments are expected to increase daily transactions to over 20 million within three months, significantly boosting TRON’s market share. By increasing the network’s energy capacity, more TRX tokens will be staked, enabling free transfers and enhancing the network’s overall profitability. These measures are designed to make TRON a more attractive platform for developers and users, fostering long-term growth. TRON’s Integration with Dex Screener In addition to its meme coin strategy, TRON ( BINANCE:TRXUSDT ) has recently achieved a significant milestone with its integration into Dex Screener, a leading decentralized exchange tracking service. This listing is expected to enhance TRON’s visibility in the decentralized finance (DeFi) space, attracting more users and liquidity to the network. The integration with Dex Screener is seen as a critical step in TRON’s broader strategy to expand its ecosystem and capitalize on the growing DeFi market. Coupled with the recent minting of one billion USDT tokens on the TRON network by Tether, TRON’s liquidity and market presence are set to strengthen further. TRX Price Forecast: Bullish Trends with Caution As of the latest market analysis, CRYPTOCAP:TRX , the native cryptocurrency of the TRON network, is trading at $0.1572 down by 2.54%. Despite a minor correction, TRX is showing signs of a bullish trend, with the potential to reach $0.20 in the near term. If this momentum continues, CRYPTOCAP:TRX could even achieve a new all-time high of $0.50. However, the market is not without risks. In a bearish scenario, TRX could stabilize around $0.14, with the possibility of further declines to approximately $0.135 if negative trends persist. Conclusion: A High-Stakes Gamble Justin Sun’s $4 billion revenue forecast and strategic pivot towards meme coins represent a high-stakes gamble for TRON. While the potential rewards are significant, the path to success is fraught with challenges. However, with Sun’s track record of bold moves and the network’s growing ecosystem, TRON could very well be on the cusp of a new era of growth and innovation. As the crypto market continues to evolve, TRON’s ability to adapt and capitalize on emerging trends will determine whether Sun’s ambitious vision becomes a reality. For now, all eyes are on TRON as it navigates this exciting yet uncertain future.
Long
by DEXWireNews
2
TRON Burns 9.9 Million TRX Tokens TRON ( CRYPTOCAP:TRX ) executed a substantial token-burning event on February 14th. The initiative saw the elimination of 9.9 million CRYPTOCAP:TRX tokens from circulation. This decision aligns with TRON’s commitment to implementing deflationary measures and fostering value growth within its ecosystem. The token burning event has already shown tremendous impacts on CRYPTOCAP:TRX price and market dynamics. Following the burn, CRYPTOCAP:TRX experienced a noticeable shift in price, reflecting investor sentiments towards the scarcity of $TRX. This move concurs TRON’s proactive approach to managing its token supply and enhancing the overall value proposition for its stakeholders. TRON’s current market data reveals its standing within the cryptocurrency landscape. At the time of analysis, CRYPTOCAP:TRX is trading at a price of $0.13131 with a market cap of $11,460,558,876. The 24-hour trading volume stands at $335,101,295, showcasing significant market activity. With a circulating supply of 88,066,863,814 CRYPTOCAP:TRX and a total supply matching that figure, TRON exhibits stability in its token distribution. TRON’s recent initiatives, particularly the token burning event, reflect a strategic approach towards managing its token economics. By reducing the circulating supply, TRON aims to create scarcity and rigorously drive up the value of $TRX. However, the long-term implications of such measures remain to be seen, as they depend on various factors including market sentiment and adoption. In terms of its position in the cryptocurrency market, TRON holds a noteworthy ranking, currently standing at number 12 in terms of market cap according to Coinmarket Cap. Technical Analysis CRYPTOCAP:TRX has been in an ascending trend. This February 2024, the asset has risen by 15%, reaching a new annual high beyond the $0.131 mark. It's currently difficult to pinpoint any resistance level capable of curtailing this robust buyer momentum. The market might first respond to sellers around the $0.133 and $0.136 levels. Nevertheless, without unexpected negative developments, these thresholds are also at risk of being swiftly surpassed, thus becoming irrelevant. Therefore, engaging in short positions for this asset is generally discouraged. If CRYPTOCAP:TRX undergoes a correction, the zones at $0.121–$0.124 and $0.117–$0.120 are seen as potential areas for buyer orders, making them suitable entry points for long positions. A shift to a downward trend could only realistically occur if Bitcoin falls below $44,500 eventually.
BINANCE:TRXUSD.PLong
by DEXWireNews
Justin Sun's $50M HT Token BurnEvery move by influential figures can send ripples through the market. Justin Sun, renowned for his strategic maneuvers, recently set tongues wagging with a bold announcement: a staggering $50 million worth of SEED_ALEXDRAYM_BIGMAC:HT tokens have been consigned to the flames in a calculated token burn. This calculated step has effectively slashed the total supply of SEED_ALEXDRAYM_BIGMAC:HT tokens, leaving a leaner 110 million in circulation. Sun's decision to wield the torch of token burn isn't merely a spur-of-the-moment gesture; it's a meticulously plotted move within his grand scheme to recalibrate the supply-demand balance of SEED_ALEXDRAYM_BIGMAC:HT tokens. With a reduced supply, Sun aims to sow the seeds of scarcity, potentially stoking the flames of SEED_ALEXDRAYM_BIGMAC:HT token value. This strategic dance aligns seamlessly with his relentless quest to optimize the performance and market standing of his cryptocurrency ventures. As one of the most influential players in the cryptocurrency arena, Sun's actions resonate far and wide, leaving an indelible mark on investor sentiment and market trends. The aftermath of this token burn is poised to trigger a whirlwind of speculation and scrutiny from investors, traders, and enthusiasts alike, all eager to decipher its implications for the SEED_ALEXDRAYM_BIGMAC:HT token ecosystem and the broader cryptocurrency landscape. In the wake of Justin Sun's incendiary move, fervent discussions have erupted within the cryptocurrency community, with analysts donning their prognosticator hats to forecast the long-term trajectory of SEED_ALEXDRAYM_BIGMAC:HT token value and utility. Many seasoned observers posit that the diminished token supply resulting from the burn could herald a new era of scarcity. With a dwindling pool of SEED_ALEXDRAYM_BIGMAC:HT tokens up for grabs, the immutable law of supply and demand suggests that the value of each token could ascend over time. This uptick in value might allure investors seeking a hedge against inflation or simply a potential windfall in the form of capital appreciation. But the ramifications of this token burn extend beyond mere price dynamics; they permeate the very fabric of SEED_ALEXDRAYM_BIGMAC:HT token utility and ecosystem. As the supply dwindles, the relative scarcity of SEED_ALEXDRAYM_BIGMAC:HT tokens could serve as a catalyst for heightened adoption and utilization, particularly within decentralized finance (DeFi) arenas or other platforms leveraging SEED_ALEXDRAYM_BIGMAC:HT tokens for a plethora of functions. Amidst the cacophony of reactions reverberating across the cryptocurrency community, a kaleidoscope of sentiments emerges. Some investors embrace an aura of optimism, viewing the reduction in SEED_ALEXDRAYM_BIGMAC:HT token supply as a harbinger of potential price appreciation in the long haul. Others tread cautiously, cognizant of the nuanced interplay between market forces and the whims of cryptocurrency moguls like Justin Sun. As the dust settles and the cryptocurrency community braces for the next chapter in Justin Sun's saga, one thing remains abundantly clear: the fervent dialogue sparked by this token burn underscores the ever-evolving nature of the cryptocurrency landscape, where every move is scrutinized, dissected, and met with a symphony of reactions. In this arena of volatility and opportunity, Justin Sun's $50 million SEED_ALEXDRAYM_BIGMAC:HT token burn stands as a testament to the enduring allure and intrigue of cryptocurrency markets.
by DEXWireNews
Could TRON #TRX 6X v #BITCOIN TRXBTC has very good market structure (higher high's , higher lows's) for the past 3 years. Overlooked , & under-appreciated it seems like, in my view on it's sentiment on Justin's success of network adoption. We can see a clear Inverse head and shoulders with a very key neckline level that if broken with strength could a indicate a run at the LOG target. A disappointing TRX may only reach the linear target and not much beyond. My TRXUSD chart which I am watching also does point to a stellar Bull market for TRX
Long
by BallaJi
Robinhood's $SHIB Purchase Send Shockwaves Through Crypto MarketPopular American exchange Robinhood has made a bold move by acquiring a staggering 202 billion Shiba Inu ( CRYPTOCAP:SHIB ) tokens in less than 24 hours. This unprecedented buying spree positions Robinhood as the fourth largest custodian of Shiba Inu, trailing behind Binance, Crypto.com, and the mysterious black hole wallet associated with the original Shiba Inu project. The move has not only caught the attention of the crypto community but has also sparked discussions about the potential implications for Shiba Inu's future and the broader cryptocurrency market. Robinhood's Growing Influence: The acquisition by Robinhood now means that the platform holds approximately 2% of SHIB's circulating supply. This significant ownership stake raises questions about Robinhood's strategic vision for Shiba Inu and its potential impact on the token's market dynamics. The move is particularly noteworthy as it comes amidst a period of price stagnation for CRYPTOCAP:SHIB , with the token slipping below 1% following a week-long correction in the overall crypto market. Vitalik Buterin's Legacy and CRYPTOCAP:SHIB 's Circulating Supply: It's crucial to revisit the project's history, especially Vitalik Buterin's use of the dead wallet address to burn $6.7 billion in Shiba Inu tokens nearly three years ago. This altruistic act, which removed approximately half of CRYPTOCAP:SHIB 's supply from circulation, still resonates on the blockchain, constituting 41.04% of the total supply. The current ownership dynamics, with Robinhood emerging as a major custodian, adds a new layer to Shiba Inu's evolving narrative. Crypto Whales in Action: The article further explores other notable transactions within the Shiba Inu ecosystem, shedding light on the actions of crypto entrepreneur Justin Sun. SpotOnChain, a blockchain whale-watching agency, reveals Sun's recent move to cash out 79.334 billion CRYPTOCAP:SHIB tokens from Binance to a decentralized wallet on-chain. This follows his substantial withdrawal of 500 billion CRYPTOCAP:SHIB coins just last month, indicating an intriguing accumulation phase for the crypto billionaire. Market Reversal and Long-Term Investment Potential: As the crypto community closely monitors these whale movements, there's a recognition that such actions often precede price trend reversals. Additionally, the article underscores the significance of these moves in assessing the long-term investment potential of Shiba Inu. While some crypto whales accumulate CRYPTOCAP:SHIB in response to positive developments like the acceptance of Bitcoin exchange-traded funds (ETFs), it's essential to note the current negative correlation between Shiba Inu and Bitcoin prices, as highlighted by blockchain data analysis platform IntoTheBlock. Conclusion: Robinhood's substantial acquisition of Shiba Inu tokens has injected fresh energy into the Shiba Inu ecosystem, prompting speculation and discussions within the crypto community. The article dives into the historical context, market dynamics, and the actions of key players like Justin Sun, providing readers with a comprehensive understanding of the current state of Shiba Inu and its potential trajectory in the ever-evolving cryptocurrency landscape.
by DEXWireNews
1
SUN/USDT 1D. Main trend. Secondary. Local. All main details.Coin Sun. This is an altcoin from the TRX ecosystem. Other coins in this ecosystem are: NFT, JST, BTTC(BTT), TRX. On the backstage of XRP rise(China money partly) TRX class of assets also look very interesting. In this idea i'll share my view on SUN from TRX group of assets. From the beginning of the trading history coin has been dumping, which is basic for almost every altcoin. After reaching certain prices trend reversed and broke the main downtrend. After that the retest followed and that was also the moment of the beginning of big diamond forming. I remind you that diamond is a reversal of the trend pattern, also consider the timeframe it's forming on(the bigger the TF the stronger the formation). This diamond is forming already for something about 400 days. Local and midterm trends are shown on the chart. Also consider the volume spring shown, which means that there's a potential for big impulse soon. Local targets and zones are shown on the chart. Capitalization of this coin is 55m$ as for the moment of writing. So there's quite a potential of 10x on the high of the trend. This will be 666 zone...
Long
by TradingTsar
2
Tron ($TRX) Exhibiting Strong Growth Potential TRX buyers have been quite active, causing the cryptocurrency to test the resistance zone of $0.110-$0.113 on three occasions since November 8, as it tries to break through this range and set a new yearly high. Currently, there's a noticeable reduction in TRX's volatility, making it likely to see short-term trading within a flat range, specifically between support levels of $0.100 and $0.106. The potential for the TRX growth still exists as long as BTC remains trading above the $31,000 threshold. A correction in TRX's trajectory is not expected to lead to significantly negative outcomes. If there is a decline, Tron might retest the support levels at $0.095-$0.097, $0.0935, and $0.0885-$0.0905. Given its robust upward trend, TRX is viewed as a viable addition to portfolios, particularly during periods of BTC correction.
Long
by DEXWireNews
NFT/USDT 1D. Secondary trend. Wedge. APENFT. Justin Sun.NFT/USDT 1D. Secondary trend chart. In the secondary trend we can observe the falling wedge forming. In this wedge we've seen couple local downtrends forming, which are shown on the chart here. Another such local downtrendline(red on chart) has been formed on broken above. As for now the price is in the consolidation and is moving in the small range between the levels 0.0...31 and 0.0000..88. There's potential double bottom forming. The base of it is 14%(balance). Notice that this is TRX's groups of tokens. I.e. Justin Sun's one. This coins like to sometimes move against the market. The potentials above and below are shown on the chart. It's quite likely we ain't gonna see really big move quite soon. Only local movements probably, but when the time comes it can move pretty huge. Also notice that as the price drops(if it happens) - the targets are also obviously moving with the price. But with the time goes by, i think that in a half year - year there's a big probability of this falling wedge targets working out. Notice also that there's some insignificant volume increase recently.
Long
by TradingTsar