TRON Price Sinks 17.5% In Three Days: Is Justin Sun a Marketing Genius?

Anyone seeking a career in marketing could do worse than to pay very close attention to the noises coming out of Justin Sun’s TRON HQ in recent months. At a time when TRX is at its lowest ebb, the TRON hype has never been stronger.

The power of promotion relies on always being seen, and TRON seems to be in the headlines for a new acquisition or partnership every week now. That hasn’t been enough to reverse the decline of the coin price, but may be helping to ward off even lower lows for TRX.

TRON Sinks 17.5% In Three Days

In the three days between August 18th and today, August 21st, TRX lost 17.5% of its value as it struggles to stay afloat above the $0.02 mark.

On August 18th TRX was trading for $0.024510 before dropping to the $0.0206 range later in the same day. What followed was two and a half days of recovery before the coin’s value eventually plunged once more, this time falling even further down to $0.0202 in the early hours of this morning (UTC).

For last night alone TRON is down 7.5%, after falling from a coin price of $0.021875. TRON has been mired in the $0.02 range since August 6th – the last time TRX climbed higher than $0.029999. Only three weeks ago TRX was flirting with the $0.04 range after reaching a value $0.039955 on July 30th.

The descent since then has been brutal, with the coin reverting to December 2017 prices en route to a nine month low of $0.016875 on August 14th, just less than a week ago. The rise to $0.024510 since then was impressive, but those gains haven’t been sustained.

Sun’s Hype Train Rolls On

On August 18th Tron was integrated into the Seedit platform which now allows Twitter users to send TRX directly to any other Twitter user, even without their permission or confirmation.

The new technology was immediately put into effective use by members of the TRON community as users began sending (small) sums of TRX to various high-profile celebrities in the hope that one would Tweet their approval, or at least, interest.

At the time of writing, neither the Pope, Ellen DeGeneres, nor Kanye West have done either, but it stands as another example of the TRON Foundation’s understanding of basic marketing techniques.

Even at the time of gladiatorial battles in the Roman Colosseum, local merchants would hire artists to paint giant murals commemorating the time the most popular gladiator visited their shop, in the hope of profiting from the association.

Today, one little ‘like’ on Twitter does the same job, and by constantly forcing themselves into the Twitter news feed for one reason or another, TRON stands a better chance at gaining those likes than most.

Featured image courtesy of Shutterstock. 

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.