🌎 TRON Hits New All-Time High Amid Whale Accumulation

TRON Reaches New All-Time High Amid Whale Accumulation and Increased Trading Volume

TRON’s market value has reached a new all-time high, with the cryptocurrency’s price surging 16% in the past 24 hours to trade at $0.236. This upward momentum has propelled TRON’s market capitalization to a record high of $20.4 billion.

Whale Activity Drives TRON Price Rally

According to data, large transactions consisting of at least $100,000 worth of TRX have increased significantly, from 244 to 722 on December 2. The total value of these transactions has reached $432 million. This surge in whale activity has been accompanied by large holders accumulating over 76 million TRX, which could potentially create a fear of missing out (FOMO) effect among retail investors and increase buying pressure.

Key indicators of the TRON price rally include:

Increased whale activity, with large transactions rising from 244 to 722
Total transaction value reaching $432 million
Large holders accumulating over 76 million TRX

Volatility and Potential Price Hike

However, the increased whale activity and trading volume could also lead to high price volatility. Additionally, the sudden shift in TRON exchange net inflows from a net outflow of 104 million TRX to a net inflow of 81 million TRX between November 30 and December 2 suggests that investors are preparing to take short-term profits. Any whale selloff at this point could trigger fear, uncertainty, and doubt (FUD) among retail holders, causing increased selling pressure.

TRON Relative Strength Index Indicates Overbought Condition

The TRX Relative Strength Index (RSI) is currently hovering above the 70 mark, indicating that the asset is slightly overbought at its current price point.