Is Toncoin the Next Solana? TON Price Nears Record High as New Meme Coin Secures $5,000,000
Telegram crypto is defying the Q2 market dip, with Toncoin (TON) leading the charge. This surge has prompted many investors to ask, “is Toncoin the next Solana?”
This article will provide an analysis of TON’s current price trends and look to see whether an innovative new Solana meme coin called PlayDoge, represents a more promising investment opportunity at this time.
$TON Still one of the strongest coins out there.
Even during the market bleeding, this has consistently trended up.
Some levels to clear here but it's close to price discovery again. https://t.co/lyik59x6Vu pic.twitter.com/cBTABUKCwr
— Daan Crypto Trades (@DaanCrypto) June 23, 2024
Rapidly emerging as a crypto market favorite hodl for Q2, Toncoin is poised for unhinged growth in the year ahead due to its close links with popular social messaging platform Telegram.
New users can easily onboard into the TON ecosystem—wallets can be opened with one click through Telegram—enabling new user adoption similar to Base Chain’s Coinbase smart wallet onboarding plans.
(DefiLlama)
As TON continues to show strength, Toncoin price is currently trading at a market price of $7.18 (representing a 24-hour change of -4.26%).
Despite this localized retrace, Toncoin remains poised in an incredibly bullish pendant flag structure, with a clear patterned trading channel spotlighting TON’s upside price trajectory in the weeks ahead.
Over the past week, a strong support level above $6.88 has been established, a remarkable defense by TON holders in the face of a wider market downturn fuelled by desperate miner selling.
The next bounce will see TON price target the topside of the current upside trading change, with all eyes on topside resistance at $7.78.
Meanwhile, the ongoing consolidation
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