Tron’s (TRX) rally to $20 and higher is a question of “simple math,” Justin Sun ironically commented on X. Meanwhile, the crypto is actually rocketing; the TRX price is one step away from its all-time high despite the altcoin season lagging.
TRX up to 100x rally? Here’s what Justin Sun says
In a joking tweet, cryptocurrency exchange Poloniex decided to calculate the prospects of Tron’s (TRX) price given the fact that Tron’s founder Justin Sun just purchased a banana for $6.2 million. This formula spells out $20 for TRX as a resonable price, Poloniex wrote to 635,000 followers.
Sun appreciated the humor of the statement and suggested that the TRX price rally over $20 (which is equal to a 100x upsurge) is an issue of “simple math.”
Yesterday, Nov. 21, 2024, Tron founder and BitTorrent CEO Sun purchased Maurizio Cattelan’s “Comedian” artwork, which is literally a banana duct-taped to a wall, for $6.2 million.
The banana from the artwork was called “the most expensive fruit” in the world. Right now, Sun is planning to eat the banana himself as part of the “cultural experience.”
Tron’s community is excited by this performance by Justin Sun and is certain that the TRX price is ready to start its price discovery.
Tron (TRX) price makes epic comeback
Tron’s TRX is one of the few major altcoins that managed to reach and even leave in the dust the price levels of previous rallies.
On Nov. 18, 2024, Tron (TRX) jumped to $0.204. This is the highest price level since early January 2018. As such, the TRX/USD price is targeting its almost seven-year highs.
At its current valuation, TRX only needs to add 10% to hit its all-time high. The cryptocurrency is on the verge of being among the top 10 cryptos by market cap, with an over $17.2 billion capitalization.