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- Is TRX Price Ready For a Breakout?dogecoin etf price Cost Basis Distribution Shows Heavy Accumulation
TRX price is holding its ground near a key price level, and several signals now point to a possible breakout. An on-chain indicator, pointed out by glassnode, shows strong buyer conviction around $0.26–$0.27, just as broader sentiment shifts on the back of Tron’s IPO (Initial Public Offering) ambitions and political ties.
The possible catalyst? On June 16, SRM Entertainment announced plans to rebrand as Tron Inc., pivoting its balance sheet to anchor $100 million, and eventually up to $210 million, in TRX. Backed by private investors and advised by Justin Sun, the move aims to position TRX as a corporate reserve asset, mirroring Bitcoin’s role in companies like MicroStrategy.
But the stakes are high. Unlike Bitcoin, TRX faces several hurdles: centralization risks, lower liquidity, and dependence on Tron’s ecosystem. While the IPO play could legitimize TRX, its path to widespread adoption remains untested and volatile.
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