TON Price Crashes -17% After Telegram CEO Arrested in France: Will Toncoin Recover?

TON is down -17% in the past week following the arrest of Telegram CEO Pavel Durov. Investors are now moving to PlayDoge and PLAY – here’s why.

Bitcoin and crypto prices rose on Friday, August 23, before steadying and cooling off over the weekend.

Even though momentum is building up and bulls appear to be in charge, it has been a rough weekend of TON holders linked with Telegram.

TON Price Analysis: Will Ton Coin Survive CEO Arrest?

TON, Price Volume in 24h Price 7d , the native currency of Toncoin, is technically bullish after surging near 180% from February lows. The uptrend has been evident, peaking at around $8 in June before retracing to spot rates.

According to the candlestick arrangement, prices are inside a dropping wedge, forming a bull flag.

(TONUSDT)

Though buyers have a, the drop of August 25 was a bear breakout bar that may push prices even lower, towards August lows of around $4.8.

This zone is a crucial support line that bulls must hold if prices are to surge higher.

Pavel Durov Of Telegram Arrest In France

As it is, the situation is worsened by the continued detention of Pavel Durov, the co-founder and CEO of Telegram.

Telegram is one of the world’s most popular messaging apps and is closely associated with The Open Network (TON), the builder of Toncoin.

Pavel Durov was arrested in Paris, with authorities leveling multiple charges mainly around his role as a CEO of the messaging app.

French police claim Durov has failed to sufficiently regulate the app, adding that Telegram now enables crypto activities, including facilitating fraud and drug tracking.

In a recent statement, Telegram denied these charges.

They added that they comply with industry standards and concurrently abide by EU laws.

Investors Buying PlayDoge Before PLAY DEX Listing

As TON faces headwinds, savvy investors are diversifying, and most are increasingly looking at PlayDoge.

PlayDoge is a meme coin that fuses P2E gaming and staking.

The ongoing PlayDoge presale is on fire, raising over $6.2 million.

What’s cool and attractive is that PLAY is undervalued, trading for just $0.00532.

By the end of this week, PLAY will list on multiple DEXes. Supporters claim that as long as BTC shakes off weakness, the token will easily fly 50X.

Those who get in now stand to reap massive benefits while engaging and harvesting more rewards from the game.

It is easy to see why:

PlayDoge seamlessly combines crypto rewards and the classic meme magic for active gamers.

PLAY Holders can stake, receiving a yield of 72%–one of the highest in the world.

So far, over 261 million PLAY have been locked up, allowing token holders to earn passive income.

Furthermore, all of PlayDoge’s smart contracts have been audited by SolidProof, a blockchain security firm. As a result, the project is credible without any risk of rug pulls.

BUY PLAY HERE

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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.