TRON TRX price may be on the verge of a rally following a bold new move by founder Justin Sun. Sun recently announced on his X account a package of incentives designed to jump-start activity in TRON’s meme coin ecosystem.
The package includes zero trading fees, unlimited free energy, and up to $1 million in funding for developers working on new projects. These initiatives are set to run for the next six months and could drive increased network activity, potentially lifting TRX’s price.
Will Incentives Boost Meme Coin Trading?
Sun’s announcement came via a post on X, where he laid out a plan to lower the cost barriers for trading meme coins on the TRON network.
For half a year, users will enjoy zero trading fees on meme coin transactions. This means that every trade in TRON’s meme coin market will be fee-free, eliminating an expense for traders.
Additionally, TRON will cover the energy costs required for smart contract operations. Typically, users must freeze a portion of their TRX holdings to access energy, but this new measure removes that necessity entirely.
In a further bid to spur growth, Sun has announced up to $1 million in incentives for developers who build innovative projects on TRON’s meme coin platform.
This funding is intended to encourage creative applications that can draw in both users and investors. In addition, new projects will receive prioritized listings on major exchanges such as Huobi and Poloniex, helping them gain liquidity and visibility quickly.
Sun stressed that he won’t personally benefit from any profits generated by these memecoins. Instead, any gains will be donated, and he has promised to cover any potential losses himself.
TRX Price and Network Activity
At present, TRX is trading around $0.23 after bouncing from a support level between $0.20 and $0.21.
Technical indicators show that while bearish signals persist—such as the MACD line still sitting below the signal line—the relative strength index (RSI) is slowly climbing, currently hovering around 50. This mix of signals suggests that the market sentiment is cautiously optimistic.
Investors are keeping a close eye on TRX’s immediate resistance, which currently sits at around $0.25. Beyond this, the price could face further challenges between $0.28 and $0.30, a zone where TRX has previously seen consolidation.
If the trading incentives result in higher transaction volumes, the increased activity might provide the necessary support to push TRX price past these resistance levels.
Higher transaction volumes might boost demand for TRX, particularly when users later use TRX for other operations that incur fees.
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