Tron Bull

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Tron price held steady on Saturday, Sep. 21 as most SunPump tokens retreated. 
Tron (<a href="https://crypto.news/price/tron/" target="_blank">TRX</a>) rose to $0.1520, a few points above this week’s low of $0.1467, and 11% below its highest point this year. 
<h2 class="wp-block-heading" id="sunpump-tokens-crash">SunPump tokens crash</h2> 
Data by CoinGecko shows that most SunPump meme coins have retreated in the past few days. 
<ul class="wp-block-list"> 
 <li>Sundog (<a href="https://crypto.news/price/sundog/" target="_blank">SUNDOG</a>), the biggest coin in its ecosystem, has dropped by 11.1% in the past seven days to $0.30, bringing its market cap to $305 million.</li> 
 <li>Tron Bull retreated by 8%</li> 
 <li>Muncat, 35%, </li> 
 <li>SunWukong, 10%,</li> 
 <li>Suncat tokens, 37% in the same period. </li> 
</ul> 
Altogether, the total market cap of all meme coins in Tron’s ecosystem has dropped from over $560 million to $514 million. 
This performance has affected Tron’s DEX volume, which has dropped by 10% in the last seven days to $453.6 million. Other chains like Solana (<a rel="" href="https://crypto.news/price/solana/">SOL</a>), Binance Chain, and Sui have seen their DEX <a href="https://defillama.com/dexs/chains" target="_blank" rel="nofollow">volumes jump</a> by 11%, 22%, and 70% in this period.&nbsp; 
On the positive side, the number of transactions in Tron has risen, according to <a href="https://app.nansen.ai/macro/blockchains?chain=tron" target="_blank" rel="nofollow">Nansen</a>. These transactions rose to over 8.2 million on Saturday, its highest point since Aug. 27 and much higher than this month’s low of 6.14 million. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="336" src="https://crypto.news/app/uploads/2024/09/Tron-Transactions-1024x336.jpeg" alt="Tron price rises as SunPump meme coins dive - 26" class="wp-image-14299078">
 <figcaption class="wp-element-caption">
 Tron transactions and gas fees | Source: <a href="https://app.nansen.ai/macro/blockchains?chain=tron" target="_blank" rel="nofollow">Nansen</a>
 </figcaption>
</figure> 
Tron is also one of the most profitable networks in the crypto industry. 
Data by <a href="https://tokenterminal.com/terminal?v=NjdmMzczMzE0ZjQ0NWI5Nzk1ZTMxZGM2" target="_blank" rel="nofollow">TokenTerminal</a> shows that its network fees this year stand at over $1.2 billion, second only to Ethereum’s $1.86 billion. 
SunPump tokens have <a href="https://defillama.com/protocol/sunpump" target="_blank" rel="nofollow">generated over $44.8 million</a> in fees since inception. 
Another positive is that Tron’s <a href="https://www.stakingrewards.com/asset/tron" target="_blank" rel="nofollow">staking yield</a> has bounced back to 4.97%, higher than last month’s low of 4.35%. This rebound happened as the volume of Tron burn and gas fees rose during the month. 
 You might also like: <a rel="" href="https://crypto.news/catizen-soars-to-record-as-ston-fi-launches-cati-farming/"> Catizen soars to record as STON.fi launches CATI farming </a> 
<h2 class="wp-block-heading" id="tron-s-technicals-are-supportive">Tron’s technicals are supportive</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/09/Tron-Price-1.png" alt="Tron price" class="wp-image-14299076">
 <figcaption class="wp-element-caption">
 Tron price chart | Source: <a href="https://www.tradingview.com/symbols/TRXUSD/?exchange=BINANCE" target="_blank" rel="nofollow">TradingView</a>
 </figcaption>
</figure> 
Technically, Tron has some encouraging metrics. It formed a double-bottom pattern at $0.1466 between August and September. This bottom was a few points above the key support at $0.1455, its highest swing in February this year. 
Tron has also held steady above the 50-day moving average while the Relative Strength Index has risen above 50. That is a sign that it may continue rising as bulls target the year-to-date high of $0.1690. 
 Read more: <a rel="" href="https://crypto.news/bitcoin-may-suffer-a-harsh-reversal-unless-it-clears-key-hurdle/"> Bitcoin may suffer a harsh reversal unless it clears key hurdle </a>

Tron price rises as SunPump meme coins dive

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