Pavel Durov, the Telegram CEO, was recently arrested and this has made a lot of people doubt Toncoin (TON) and other tokens belonging to this blockchain known as The Open Network (TON).
In just 1 day, Toncoin lost approximately 8.5% of its value trading at $4.79. Oddly enough, trading activities within the token increased by 63.18% to hit $351 million but its market cap stayed put at $12.14 billion while Cardano (ADA) was threatening to take over its position in rankings either than this.
Expected Market Prices:
The expected market movements for Toncoin (TON), Notcoin (NOT), & DOGS Coin are:
- Toncoin (TON):
Down 8.56% in 24 hours, 10.41% in a week, and nearly 21% in 30 days. Despite its recent strong performance, a 148.49% rise since August 2023, current trends show potential weakness.
- Notcoin (NOT):
The telegram-based Notcoin token has experienced a 10% drop in the past 24 hours, falling to $0.007628. It is down 33.02% over the past month and has plummeted 47.32% since May.
- DOGS Coin:
The DOGS meme coin also suffered, dropping 8.98% recently. It stands at $0.001023, with a 35.73% decline over the past month and a 16.22% fall in the past week.
Price Decline Expected?:
The Relative Strength Index (RSI) for Toncoin shows a value of 31.25, indicating the token might be approaching oversold conditions, suggesting further price declines.
The overall downturn in Toncoin, Notcoin, and DOGS Coin highlights the broader impact of Telegram CEO Pavel Durov’s arrest on the TON blockchain ecosystem.
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