Toncoin Price Prediction: TON Jumps 5% After Pavel Durov’s Announcement, Analysts Predict This Cryptocurrency Could Rise 100x

Toncoin price is up 5% in the last 24 hours of trading at $5.60 As of 5:10 a.m. ET, trading volume was up 101% to $1.36 billion.

The 5% rise in TON price is part of a recovery from the decline the cryptocurrency suffered on August 24. This was when news broke that Telegram founder Pavel Durov had been arrested by French authorities over his ties to Telegram.

French authorities have held him responsible for enabling various illegal activities through Telegram. For example, they alleged that Durov was complicit in money laundering, helping to spread child pornography, refusing to communicate with authorities, and other illegal activities.

Since then, French authorities have come under heavy criticism from Durov’s defenders for his detention, claiming that the move is an attack on freedom of expression. Durov has since been charged and released after posting €5 million bail, and although he is not allowed to leave the country, his release has led to a slight rebound in TON’s share price.

Toncoin price prediction

The past 24 hours have brought a lot of volatility to Tonquinwhere we saw it rise very quickly, achieve correct results, and then grow again. In the past few hours, the token’s performance has been relatively flat, but multiple technical indicators suggest that its price is preparing to take off.

The Bollinger Bands for the symbol have been tightening quite a bit lately, especially after the massive widening that occurred yesterday during the price rally. This is a strong bearish signal, suggesting that the price could see a strong correction soon.

In somewhat of a contradiction, the token’s Relative Strength Index (RSI) has been fluctuating between neutral and overbought territory, indicating that traders are buying and selling, but buyers have a stronger grip on the token’s price.

Moreover, the cryptocurrency market seems to have managed to shake off the bearish influence, as many coins have started trading in the green again, which may contribute to the positive performance of Telegram price.

Finally, Durov’s release could further boost the coin’s positive performance, now that the downward trend has begun. However, investors and traders should remember that uncertainty still looms across the market and the situation could easily take a turn for the worse at any moment.

Promising alternative to Toncoin

With the price of Toncoin in a delicate position, many investors are looking for less risky investment opportunities, and one of the best cryptocurrencies available right now may be Crypto Stars (STARS).

Crypto All-Stars is a new meme coin project that launched its presale a few weeks ago, introducing its native token, STARS. However, the project immediately stood out among other meme coins, even during 2024 – the year in which the sector has boomed, with dozens, if not hundreds, of new meme coins being launched. The reason for this is simple – Crypto All-Stars introduces a new type of smart contract that could revolutionize storage forever.

As one of the most popular DeFi activities across the industry, staking allows users to stake cryptocurrencies for specific projects and receive more tokens as rewards. Staking helps secure token networks. It also reduces the number of coins in circulation, which can have a positive impact on cryptocurrency prices.

However, each project only allows you to stake their native coins or tokens, or at least, that has been the norm so far. Crypto All-Stars has developed a new smart contract for placing stakes called MemeVault, which allows users to stake all the leading meme coins, including Dogecoin, Pepe, Turbo, Brett, Milady, Floki, and more. As such, it promotes unity among meme coins, and acts as a hub for future meme coin placements.

This immediately attracted investors to the ICO, which has since raised over $844,000 to date. You can join the ICO now and buy STARS tokens for just $0.0014078 per coin using ETH, BNB, USDT, or credit/debit cards. The project even caught the attention of top crypto YouTuber Jacob Crypto Bury, who said in a recent video that the project has at least 10x potential.

Buy STARS from its official website.

Related articles:

PlayDoge (PLAY) – Latest ICO on BNB Chain

• 2D virtual pet
• Play to earn Meme Coin Fusion
• Betting Bonuses and In-Game Tokens
• SolidProof Audited – playdoge.io