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The Toncoin price surged 7% in the last 24 hours to trade at $5.13 as of 03:31 a.m. EST on trading volume that jumped 14% to $521 million.
The TON price pumped after Pavel Durov, Telegram CEO, called his arrest by the French authorities on Aug. 25 a ”misguided approach.”
I'm still trying to understand what happened in France. But we hear the concerns. I made it my personal goal to prevent abusers of Telegram's platform from interfering with the future of our 950+ million users.
My full post below. https://t.co/cDvRSodjst
— Pavel Durov (@durov) September 5, 2024
The comments were Durov’s first since his arrest late last month. Durov said that when a nation has issues with an internet service, the accepted way to deal with it is by initiating a legal action against the service itself, not an individual behind the platform.
Toncoin Price Prediction: TON Aims For A Rebound In The Coming Days
The Toncoin price has been on a downtrend, trading within a falling wedge pattern, as the bears took control.
However, the price seems to have found support around $4.5, on the lower boundary of the wedge, which has allowed the bulls to push the price of Toncoin back to the upper boundary.
However, the Toncoin price still trades below both the 50-day and 200-day Simple Moving Averages (SMAs), which is in line with the recent price decrease.
The Relative Strength Index (RSI) supports the recent price surge, as it is on a rebound from below the neutral zone, currently at 44 and moving up, an indication that buying pressure may be picking up at this level.
Furthermore, the Moving Average Convergence Divergence (MACD) moves towards the neutral line, which is an indication that the price is on a bullish momentum. The blue MACD line also crosses above the neutral line, signaling a bullish crossover.
TONUSD Chart Analysis (Source: Tradingview)
If the bullish staance continues, the Toncoin price could soar above the wedge, as the bulls target the $7.0 resistance.
In an inverse scenario, if the bulls take control of the price at this level, TON could plunge back to the $4.3 support zone, below the lower boundary of the wedge.
As the Toncoin price aims for a bullish trend reversal, investors are shifting into a new Olympic-themed meme coin called The Meme Games (MGMES) as it closes in on the $500K mark.
99Bitcoins, a prominent crypto channel on YouTube with over 706K subscribers, says that $MGMES could soar 100X after its launch.
The Meme Games Offers Last Chance To Buy Before Presale Ends
The Meme Games presale concludes on Sept. 8, which coincides with the final day of the Paris Paralympics. Token claim and DEX launch will follow on Sept. 10.
The project draws inspiration from the 2024 Olympics, blending crypto meme coin enthusiasm with the spirit of athletic competition. Such a unique concept rewards presale buyers with token bonuses for winning events, which adds an exciting competitive element.
Token holders can bet on one of five meme coins – DOGE, PEPE, WIF, BRETT, and TURBO – that compete in the blockchain version of the Olympics. If your chosen athlete wins, you gain a 25% bonus on your original investment.
CRYPTO BREAKING NEWS
The Meme Games raises over $100K on opening day of presale. The Meme Games presale raises over $100K in its first 24 hours, capturing attention in the booming memecoin sector. #partnercontent check us out @ https://t.co/8dh137buUp pic.twitter.com/YwzyP2glE4— InnovatekMobile (@Neome_com) July 17, 2024
The selection of meme athletes occurs randomly and is verified by blockchain technology, which ensures fairness.
Investors can also earn passively through the project’s staking mechanism, which offers an annual percentage yield (APY) of 452%.
You can buy MGMES tokens currently for $0.00945 each. With a price hike coming in less than six days, buy soon to secure the best deal.
Buy $MGMES tokens from the official website here.
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