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Sam Cooling
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Sam Cooling
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Telegram’s native crypto (TON) continues to flourish despite the market dip, especially after a sensational influx of $900m in trading volume over the past 24 hours.
In this article, we will examine the latest TON price analysis and uncover how the Toncoin price could develop in the weeks ahead. We will also learn about a viral presale gaining attention in the crypto community this week.
This comes amid growing VC and institutional interest in TON, which has recently joined up with the Binance Launchpad program to help develop the Toncoin ecosystem.
TON Price Analysis: Is Toncoin On The Verge of a Major Breakout Move?
As TON price battles against a major upside resistance level, Toncoin is currently trading at a market price of $6.68 (representing a 24-hour change of -3.09%).
A long-standing historical resistance level around $6.88 is currently dominating attempted upside breakout moves from TON, which has exploded amid a +$900M uptick in trading volume.
Trader interest peaked on August 13, after recovery moves reclaimed the support of the 20DMA – which is currently providing a lower level of support to upside price moves at $6.33.
With TON bulls pushing for a break above the $6.88 resistance level, support at $6.9 forms the likely next stop.
And this isn’t unlikely over the coming days, with the RSI still signalling the available upside capacity, with a current reading at 52.19.
Overall then, on the short-time frame, TON price could see a swing to the upside to $6.9 (a possible +3.5% move from here).
While downside risk could see a tumble back to 20DMA support at $6.33 (a potential -5.1% move).
Therefore Toncoin has a short-time frame risk: reward ratio of 0.68 – suggesting a bad entry on the trail end of a recovery pump.
But while TON might not offer a huge margin on the short-time frame, this is not a market without opportunities, and perhaps none is more worthy of attention in August than Pepe Unchained.
PEPU Goes Viral: On the Cusp of $9M Raised in Biggest Crypto Presale of August 2024
While the crypto market has suffered this Summer, meme coins have shown no signs of slowing down as hungry retail investors continue to chase the next big gainer on the market.
Now, ahead of a highly-anticipated launch at the end of Q3, the Pepe Unchained presale has unlocked viral velocity with funding raised rapidly approaching a jaw-dropping $9M in organic community support.
But what exactly is Pepe Unchained, and why does it matter?
Far from just another meme coin launch – which has become something of an epidemic following the introduction of pump.fun – Pepe Unchained is a genuine project working on real tangible utility.
At the heart of this is the fact that Pepe is an ERC-20 token, a token standard and chain that is not only increasingly unpopular but also slow and expensive.
Other top-shelf meme coins, such as Shiba Inu, have had a dynamic response to these scalability challenges surrounding Ethereum, with Shiba Inu developer Shytoshi deploying a layer-2 scaling solution named Shibarium last year.
Yet, the same cannot be said of Pepe, which has been slow to respond to challenges, which has led to Pepe Unchained’s creation.
Positioned as a community-fuelled Layer-2 solution, PEPU is positioned as Pepe 2.0.
And amid fever for high-speed, low-cost meme coin trading on the latest and greatest Layer-2 blockchains like BASE and BLAST, there is clear unhinged growth potential for this near $9M market cap project.
So don’t miss out – engage with the Pepe Unchained community on X and Telegram.
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.
