Justin Sun has successfully increased the network’s energy cap to 120 billion through Proposal No. 92.
As a result of the meme currency frenzy that occurred on Tron’s SunPump platform the previous week, the development team has begun the process of increasing the energy limit of Tron Network in order to reduce the amount of congestion and bring transaction fees under control.
Justin Sun Announces TRON Raising Energy Cap
As a result, the TRON community has successfully lifted the energy cap to 120 billion, as the founder Justin Sun has revealed. Additionally, Justin Sun, the founder of Tron, announced earlier today that the Tron community has officially implemented Proposal No. 92, leading to an increase in the energy cap to 120 billion.
This new improvement will enable TRX stakers to increase their transaction volume, reduce the gas fee, and enhance overall network activity. In addition, Sun conveyed his appreciation to the TRON community for the effective implementation of the proposal.
Following the SunPump frenzy, the Tron Network experienced a significant increase in traffic volume from the previous week. Analysts are forecasting that Tron’s meme coin season might be even higher than what we saw on Solana earlier this year in the first quarter of 2021.
Justin Sun is also backing the meme frenzy, adding his support to the trend.As a result, Tron has already begun making some preparations to head in this direction in order to accommodate the enormous increase in traffic that may be forthcoming.
The price of TRX has increased by 22% over the past week, and it is presently trading around $0.1653. It has a market cap of $14.3, which has caused it to dislodge Cardano’s ADA once more for the tenth slot.
TRX Price Rally Amid Meme Coin Frenzy
This occurred after TRX saw a slight drop in value over the weekend. This TRX price increase coincides with a boom in TRON burns, which corresponds to the meme currency craze and indicates that demand is increasing while supply is decreasing.
Justin Sun predicts a significant surge in the launch of meme initiatives within the Tron ecosystem. According to the information provided by Coingeckco, SUNDOG is the most significant meme coin project running within the Tron meme ecosystem at the moment.
SUNDOG, which has a market value of $249 million, is currently trading at $0.2494, representing a 12.46% increase from its previous price. Over the past week, the price of SUNDOG has increased by an astounding 214%.
As of this publication, other meme initiatives established on SunPump have garnered between 20 and 60 percent of the total. The price of TRX has made a significant breakthrough over the high established in 2021, and it is currently moving closer to reaching its all-time high of $0.20.
Miles Deutscher, a well-known market expert, stated that there is still the possibility of upside for TRX, which might cause it to enter a price discovery zone. Tron and Cardano are currently in a fierce competition for the tenth slot in the market.
