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The Toncoin price pumped 4% in the last 24 hours to trade at $5.60 as of 03:31 a.m. EST on trading volumes that plunged 35% to $1.6 billion.
The recent increase in the TON price comes as the old rumor of Apple removing the popular private messaging app, Telegram, resurfaces following the arrest of Pavel Durov in Paris.
⚖️ 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 rebounded slightly.
Toncoin Price Aims For A Rebound
The Toncoin price formed a triple bottom pattern starting from Aug. 10, with the bulls retrying the $6.9 resistance zone, according to data from GeckoTerminal.
After Durov’s arrest, the Toncoin price 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. This could be seen as a buy signal for the bulls. Should buying begin, the price of Toncoin may soar past the $5.9 support and target $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 just 2 days left before its DEX launch and claims go live.
According to analysts from the 99Bitcoins crypto channel, PLAY could soar 100X after launch.
Bringing 90s Nostalgia To The Flourishing Meme Coin Space
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 gameplay, 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. With its DEX launch happening in 2 days, now it the last opportunity to buy the meme coin before it enters the open market.
Purchase PLAY from the official website here using BNB, USDT, or a bank card.
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