Toncoin (TON) has so much potential, with only a single $100m meme coin to its name and many 100x plays on the Telegram crypto table.
The Open Network (TON) is a blockchain platform initially developed by the Durov brothers, the Russian developers behind the messaging app Telegram.
Their initial vision for TON was integrating cryptocurrency and blockchain functionality into the Telegram ecosystem. They ran into issues with the SEC over TON’s $1.7 billion initial coin offering, with fears of it being labeled a security by the regulators.
This led to the Durov brothers and Telegram cutting ties with TON, although it has continued to thrive as a community-driven project overseen by the TON Foundation ever since.
$DUREV – Homage To Telegram Creator Pavel Durov
Durev is a meme coin based on a notable figure, similar to $TREMP on Solana and $BRIUN on Base. In this instance, it is a parody of Telegram and TON founder Pavel Durov. Since launching at the beginning of April 2024, it has been a leading meme coin on TON.
Durev has been comfortably sitting above the $10 million market cap for over two weeks while consistently transacting over $100,000 in trading volume daily. The devs for Durev have even added utility to the project by creating a Telegram trading bot called ‘DurevBot’, which enables users to trade tokens on the TON ecosystem via Telegram easily.
TVL of $TON is almost the same as TVL of Optimism and Avalanche.
Back in March, TVL was $25M, now $670M 🤯$DUREV likes it pic.twitter.com/Yy3H3oJRS5
— Michael (@michael_nft) June 26, 2024
Base chain is another newer network that has exploded this year. Its leading meme coin, BRETT, recently exceeded a $1.5 billion market cap.
Solana has multiple $500 million market cap memes such as BOME, WIF, and POPCAT. This only helps put into perspective how many Xs are on the table for leading meme coins on newer chains such as TON.
DISCOVER: The Best Meme Coins to Buy in July 2024
$HIF – Based On Cult Soviet Film ‘Hedgehog In The Fog’
With TON having a large Russian user base due to its original ties to Telegram and the Durov brothers, a meme coin for a 1975 Soviet animated film has blown up. Hedgehog In The Fog was created at a time when Soviet-era children’s animation and literature were faced with the task of producing politically acceptable content.
This is an extremely niche token. Since launching around three weeks ago, its market cap has ranged between $4 million and $8 million.
It has built strong support between the $3.5-$4 million level, and if it eventually breaks out over $10 million, HIF will be in price discovery, having broken a key level that many meme coins struggle to achieve.
I have been really into memecoins on #TON lately because they are underrated and give nice exposure to the fairly new chain!
This one is particularly cute and strong, with a remarkable chart setup, and I couldn't resist sharing it. 🔥
CA:… pic.twitter.com/FA3X5nn7x7
— Santolita (@SantoXBT) June 26, 2024
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.
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