Telegram crypto is the big narrative for Q2, as crypto markets brace for a so-called ‘Toncoin Summer’; in this article, dive into TON’s meteoric rise and discover whether it’s truly the best hold this Summer.
Arthur Hayes and Raoul Pal called for a ‘crypto summer,’ but we see a bloodbath. Bitcoin and Ethereum are in the red, yet Toncoin (TON) is one of the few defying the odds, hitting $8.01 on June 14.
If you’ve invested in projects like Solana, your investment is down -16.47% over the past week to $141.94.
But Toncoin holders continue to rejoice amid sustained upside gains. So, let’s talk about why Toncoin could be the next top 5 cryptocurrency.
TON Price: Toncoin’s Market Performance is Supernatural
Toncoin (TON) is on fire. Trading at $7.83, it’s up 5.11% in a day, 3.94% in a week, and a whopping 15% for the month. With a market cap of $19 billion, TON now sits in ninth place among crypto giants, according to CoinMarketCap.
Toncoin’s rise is fueled by its bustling user base. Artemis reports that Toncoin has surpassed Ethereum in unique daily active addresses for ten of the past twelve days in June.
You also have to credit Telegram’s 900 million-strong army for Toncoin’s surge. Transactions are booming, thanks to this user base.
Add in Tether (USDT) and the new Notcoin game and Telegram Stars, and you’ve got a recipe for rapid growth.
Technical Analysis for TON Price: The Path to $10
(TONUSDT)
Short-term signals are flashing bullish for Toncoin, but the long-term indicators are screaming bearish. With the price above the 20-day SMA but below the 200-day SMA, it’s a mixed bag.
So, should you buy or wait?
If support at $7.85 holds, you might want to keep your wallet ready to invest in TON. 99Bitcoin’s analysts believe a dip below will confirm its in a consolidation phase.
Breaking above $8.00, however, could be the green light that this run will keep it going. Play it safe, say the analysts at 99Bitcoin. Wait for that $8.00 breakout or a clearer bottom.
Toncoin is Great, But Wiener AI is Having a Historic Presale
While TON continues to grabs headlines, Wiener AI might be the next crypto project to make big moves. This meme token has raked in $5.6 million from its presale, leveraging AI to give investors an edge in the crypto markets.
More Wieners every day – Our WienerAI family is growing fast! 🐾
More holders = More excitement for our launch!
Ready to join the pack? 🌭🚀 pic.twitter.com/TPFpsjLGFX
— WienerAI (@WienerDogAI) June 13, 2024
With a staggering +1,800% APY in staking rewards, Wiener AI has quickly amassed a loyal following and is delivering eye-popping returns.
Analysts at 99Bitcoin are betting it could soar 100x by 2025
EXPLORE: VanEck Sees Ethereum Soaring To $22,000 by 2030: Here’s Why
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital
