We asked ChatGPT if Tron (TRX) can reach an ATH this year

TL;DR

TRX rose to $0.16 earlier this week, becoming the 11th largest cryptocurrency, likely driven by activity in the SunPump protocol. The price of the token is gradually approaching its all-time high, with further growth depending on market conditions and potential partnerships. Awesome TRX rally

TRX, Tron’s native token, has been one of the best performing cryptocurrencies of late. Earlier this week, its price surpassed $0.16 for the first time since April 2021, while the market capitalization approached $14 billion. The substantial increase positioned TRX as the 11th largest cryptocurrency, overturning Cardano (ADA), which trailed behind in 12th place.

The resurgence of the token coincides with some important developments within the Tron ecosystem. In mid-August, Sun.io (a platform linked to Tron founder Justin Sun) launched a protocol called SunPump, which allows users to create their own meme coins in minutes.

In the following days, industry participants introduced thousands of new memes, contributing to the rapid expansion of activity on the network. The largest Tron-based meme coin currently is SUNDOG, which began trading on August 16th and quickly passed the $200 million mark in terms of market cap.

Talking about the latest meme coin craze was Justin Sun. He argued that Tron has a larger pool of liquidity than any other blockchain protocol, which is why he praised the success of the initiative.

“Memecoin platforms live and die by liquidity, and TRON has a lot of it. USDT TRON holders are eager to get memecoins and cooler, crazier crypto narratives, while meme developers and traders need a place with liquidity solid stable of coins to make moves.

And let’s not forget, TRON’s fast and cheap AF, with dope perks like native MEV protection. For meme traders, developers, and the community, it’s a no-brainer. In the SUN”, he added.

Is TRX Preparing for an ATH?

After its recent bull run, TRX’s valuation has approached its all-time high of $0.23, recorded in January 2018. We decided to ask ChatGPT if the asset could erase this gap and touch a new peak before the end of 2024. The chatbot stated that the overall performance of the cryptocurrency market will be a major determinant:

“A strong bull market, driven by favorable macroeconomic conditions, regulatory clarity and increased adoption of cryptocurrencies, could create the necessary environment for TRX to grow.”

Another factor is favorable investor sentiment and competition from other blockchain platforms whose development “could hinder TRX’s ability to reach a new ATH.”

Last but not least, the value of the coin could benefit from possible partnerships between Tron and well-known entities, as well as technological advances in the protocol.

Many X users also believe that TRX can break its price record in the near future. One enthusiast argued that the asset’s bullish momentum does not appear to be near its end. They await a retest of the $0.14 resistance level before a possible pump to a new peak.

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