Tron Hits $0.44 All-Time High: Can TRX Break $1 This Cycle?

Key Takeaways:

• The Tron price hit an all-time high of $0.4407, fueled by significant market momentum.
• Justin Sun's strategic actions, including partnerships and publicity stunts, boosted TRX's visibility.
• If the altcoin season continues and Tron maintains its momentum, TRX's price could hit $1 by Q1 2025.

Tron (TRX) surged to a new all-time high of $0.4407 on December 4 after recording a surge of over 100% in just 24 hours. Now, crypto enthusiasts are speculating if the TRX price will break the psychologically significant $1 mark during this crypto bull cycle.

Altcoin Season Fueling Tron's Price Increase

The positive performance in Tron's price came as the crypto market gears up for the alt season when alternative cryptocurrencies like Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), and others outperform Bitcoin (BTC).

We've seen a massive rally among the top, leading altcoins, especially with Ripple's XRP, which surged to an 8-year high of $2.8 and became the third-largest coin by market cap.

Even though Bitcoin's price has remained stable recently, hovering around $95,000, the total global cryptocurrency market capitalization continues to rise. It currently stands at $3.52 trillion, reflecting a 0.96% increase over the past 24 hours.

The CMC Altcoin Season Index has also reached 88/100, indicating that altcoins such as Tron (TRX) have just started to show improved performance, and we may witness significant new highs before the middle of 2025.

Related: TRON Outperforms All Blockchains with $5.33 Million Gain, Thanks to SunPump Rollout

Justin Sun's Latest Strategic Moves

Recent events in the Tron ecosystem and arguably “strategic” actions by Justin Sun, the founder of Tron, may have caused a rise in the price of Tron. This has also caused a surge among Tron meme coins, such as SUNDOG (SUNDOG), Tron Bull (BULL), and SUNCAT (SUNCAT), which have all recorded 2-digit gains in the last 24 hours.

Justin Sun recently gained attention for eating a banana that was part of a $6.2 million artwork. He bought the art, which consisted of a simple banana taped to a wall, and ate the fruit in Hong Kong on Friday. This incident created a lot of buzz in the crypto world and beyond.

Furthermore, the next four years may benefit crypto businesses and personalities that support the U.S. government's initiatives under the newly elected pro-crypto President, Donald Trump.

On November 25, Justin Sun announced that he bought $30 million in crypto tokens from a Donald Trump-backed company called World Liberty Financial, becoming the largest shareholder in the project.

We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let's go! pic.twitter.com/cISTsVYP1f

— H.E. Justin Sun 🍌 (@justinsuntron) November 25, 2024

He stated that his company is committed to “making America great again and leading innovation.” Justin Sun also became an adviser to World Liberty Financial, making him a business partner with the incoming president.

Another recent win for Tron and Justin Sun is the award he received at Wiki Finance EXPO Dubai 2024. On December 3, he received the “Pioneer of the Crypto Future Award” for his significant contributions to the blockchain and crypto fields.

🌟 Congratulations to @justinsuntron and @trondao for winning this great honor!

At Wiki Finance EXPO Dubai 2024, Justin Sun was awarded the "Pioneer of the Crypto Future Award" in recognition of his pioneering contributions to the blockchain and crypto fields; pic.twitter.com/KfE57hBqd8

— WikiEXPO (@Wikiexpo_global) December 3, 2024

Tron Price Prediction: Will TRX Break $1 This Cycle?

Technical indicators suggest that Tron (TRX) might perform well in the near future. Currently, TRX is changing hands for $0.3733, which is a 14.66% drop from its all-time high of $0.4407 recorded just 6 hours ago.

Despite this recent decline, the weekly candlestick shows strong bullish momentum, with a 120% increase during the week.

This rise comes with a significant volume spike of 531.43%, reaching $13.86 billion, signifying strong participation in the market. High trading activity during a price increase often shows growing confidence among investors, which could mean further price gains in this bull market.

Several factors suggest that TRX could reach an all-time high. It recently broke through a key resistance level at $0.2251, which is now strong support. This sets a solid base for further price growth.

The next important price level to watch is $0.50. If TRX surpasses and maintains this level, it may cause FOMO (fear of missing out) among investors, pushing the price toward higher targets of $0.70 to $0.80 and possibly $1 during the altcoin-season peak in Q1 2025.

Related: Alt Season Is Here: Expect ‘Biblical’ Price Pump for Altcoins Soon