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The Toncoin price surged 4% in the last 24 hours to trade at $5.60 as of 03:31 a.m. EST on trading volume that plunged 35% to $1.6 billion.
This comes as the old rumor of Apple removing the popular private messaging app, Telegram, resurfaces following the arrest of co-founder and CEO Pavel Durov in Paris.
Telegram has, however, cleared the air by stating that the platform abides by EU laws and that the allegations, including abuse of the platform by Durov, are false.
⚖️ Telegram abides by EU laws, including the Digital Services Act — its moderation is within industry standards and constantly improving.
✈️ Telegram's CEO Pavel Durov has nothing to hide and travels frequently in Europe.
😵💫 It is absurd to claim that a platform or its owner…
— Telegram Messenger (@telegram) August 25, 2024
Meanwhile, the price of TON fell more than 20% after the arrest of Durov but has since slightly rebounded.
Toncoin Price Aims For A Rebound
The Toncoin price from August 10 formed a triple bottom pattern, with the bulls retrying the $6.9 resistance zone, according to data from GeckoTerminal.
However, after Durov’s arrest, the price of Toncoin invalidated the bullish prospects, with TON dropping past the $6.4 support level to as low as $5.28. TON has since been on an uptrend, rebounding through a rising channel as the bulls aim for a continued bullish rally.
The Relative Strength Index (RSI) currently trades within the oversold region at 33, showing that the asset is undervalued.
The RSI being undervalued may be a buying signal for the bulls. If buying begins, the price of Toncoin may soar past the $5.9 support, currently targeting $6.6.
However, if the bears gain control at this level, TON may still drop back to the $5.2 support zone.
Meanwhile, as the Toncoin price aims for a rebound, traders are shifting to the new play-to-earn (P2E) project, PlayDoge (PLAY), with only one hour left until its presale ends.
According to analysts from the 99Bitcoins crypto channel, PLAY can soar 100X after launch.
PlayDoge Meme Coin Raises Over $6.3 Million – Last Chance To Buy
Only one hour is left before the PlayDoge presale ends on August 26 at 10 a.m. UTC, so early contributors have no time to lose.
PlayDoge is a mobile-based play-to-earn (P2E) game that transforms the DOGE meme into a Tamagotchi-style virtual pet, which allows users to earn $PLAY tokens.
Just been knighted, thanks @elonmusk pic.twitter.com/pzLJ2bkWvm
— PlayDoge (@PlayDogeGame) August 10, 2024
The project mixes ‘90s nostalgia with modern blockchain tech, allowing users to care for an 8-bit pixel Doge in a retro-style mobile game. Players feed, play mini-games, and bond with their virtual pet, earning $PLAY tokens in the process.
In addition to earning through P2E, token holders can also earn passively by staking $PLAY for an impressive 72% annual percentage yield (APY).
You can buy $PLAY tokens for $0.00531 each. The presale ends in about an hour, so buy now to lock in the best deal.
To join the presale, buy $PLAY from the official website here using BNB, USDT, or a bank card.
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