The crypto market saw a flurry of activity around Toncoin (TON) this year, fueled by a series of Telegram-driven airdrops that sparked investor interest. However, recent data shows active addresses on the TON network have now plummeted to a six-month low, raising questions about the longevity and future demand for Toncoin.
Following a spike in August and September, largely due to the distribution of the DOGS meme coin and the launch of the tap-to-earn game Hamster Kombat, user enthusiasm has waned. Many Telegram users expressed disappointment over the low value of the airdropped tokens, dampening interest in Toncoin. This shift in sentiment has contributed to a decrease in short-term holders and, according to IntoTheBlock data, could signal potential downward pressure on TON’s price. Currently trading at $5.18, technical indicators such as the Chaikin Money Flow (CMF) reveal a net selling trend that could drive TON to $4.46.
With a CMF reading in the negative territory, TON faces a bearish outlook unless renewed demand emerges. If upcoming Telegram airdrops scheduled for October deliver more promising value, they could rekindle interest in Toncoin, potentially pushing its price up to $6.20. For now, Toncoin’s price movement remains uncertain, hinging on both user engagement and future token distribution events.
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Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
The post Toncoin on the Brink: Telegram Airdrop Disappointment Sparks Price Decline Fears appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
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TON Price Outlook: Potential Decline Amid Low Engagement
Following a spike in August and September, largely due to the distribution of the DOGS meme coin and the launch of the tap-to-earn game Hamster Kombat, user enthusiasm has waned. Many Telegram users expressed disappointment over the low value of the airdropped tokens, dampening interest in Toncoin. This shift in sentiment has contributed to a decrease in short-term holders and, according to IntoTheBlock data, could signal potential downward pressure on TON’s price. Currently trading at $5.18, technical indicators such as the Chaikin Money Flow (CMF) reveal a net selling trend that could drive TON to $4.46.
Could Future Airdrops Reverse Toncoin’s Price Trajectory?
With a CMF reading in the negative territory, TON faces a bearish outlook unless renewed demand emerges. If upcoming Telegram airdrops scheduled for October deliver more promising value, they could rekindle interest in Toncoin, potentially pushing its price up to $6.20. For now, Toncoin’s price movement remains uncertain, hinging on both user engagement and future token distribution events.
Changelly Newsletter
Helps you keep track of the breaking news and the latest events.
Please enable JavaScript in your browser to complete this form.
Email *
Subscribe
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
The post Toncoin on the Brink: Telegram Airdrop Disappointment Sparks Price Decline Fears appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
Full story here:
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