Toncoin Price Prediction: TON Price Drops 4% After UAE Demands For Pavel Durov Access As Experts Say Consider This New Meme Coin For 10X Gains

The Toncoin worth dropped 4% within the final 24 hours to commerce at $5.39 as of 03:34 a.m. EST on buying and selling volumes that plunged 23% to $1.2 billion.

This comes because the United Arab Emirates (UAE) introduced late Monday that it had requested the French authorities to permit consular entry to Telegram CEO Pavel Durov, who’s at the moment in police custody in Paris.

Durov was arrested late Saturday evening and continues to be being held as a part of a probe into allegations referring to little one pornography, drug trafficking, and arranged crime on the Telegram messaging platform.

After the arrest, The Open Community (TON) skilled a notable impact, with its native TON token plunging over 20%.

Toncoin Value Goals For A Rebound

Because the arrest, the Toncoin worth dropped from the $6.82 resistance, in accordance knowledge from GeckoTerminal. Bulls have been making an attempt to maintain the worth above the $5.0 assist stage ensuing within the formation of a falling channel sample.

With the token at the moment on a downtrend, TON trades beneath each the 50 and 200 Easy Shifting Averages (SMAs) on the hourly chart, supporting the downtrend.

Nonetheless, the Relative Energy Index (RSI) is rebounding from the 30 oversold stage, at the moment at 47, indicating that purchasing stress is increase as buyers put together so as to add to their positions.

Furthermore, the Shifting Common Convergence Divergence (MACD) can be rebounding in the direction of the impartial line on the 1-hour chart, suggesting that TON is increase momentum because it strikes in the direction of an uptrend.

The inexperienced bars on the histogram additionally lengthen past the zero line, signaling that the worth of TON is on constructive momentum.

In accordance with the Toncoin worth evaluation, the crypto exhibits a bullish bias, because the bulls intention for a rebound over the falling channel sample. If the rebound is profitable, TON might soar to $6.3.

Nonetheless, if the bears exert extra stress on the crypto, the worth of Toncoin might drop to the $5.0 assist zone.

In the meantime, buyers are shopping for the brand new meme coin The Meme Video games (MGMES), which has already garnered over $400K by way of its presale.

In accordance with Jacob Bury, a well-liked crypto analyst on YouTube, MGMES has the potential to surge 10X after its launch.

The Meme Video games Presale Amasses Over $400K – Finest Meme Coin To Purchase Now?

With simply over three weeks till its launch, The Meme Video games is about to turn into a notable participant within the crypto house and doubtlessly ship substantial returns. 

The Meme Video games is a novel meme coin undertaking that has emerged with its personal distinctive P2E ecosystem. It includes a gamified presale and affords an opportunity to work together with the Olympics in an entire new means.

CRYPTO BREAKING NEWS
The Meme Video games raises over $100K on opening day of presale. The Meme Video games presale raises over $100K in its first 24 hours, capturing consideration within the booming memecoin sector. #partnercontent examine us out @ https://t.co/8dh137buUp pic.twitter.com/YwzyP2glE4

— InnovatekMobile (@Neome_com) July 17, 2024

The undertaking combines the aggressive spirit of the Olympics with the colourful, fun-filled ecosystem of meme cash in an exhilarating fusion.

Right here, buyers assist a meme character of their selection, which acts as an athlete competing within the blockchain model of the Olympics. Their wins will earn their backers a 25% bonus.

As a token holder, you may earn passively by way of the undertaking’s staking mechanism as nicely. All you should do is purchase and stake MGMES for an annual share yield (APY) of 482%.

You should purchase MGMES tokens now for $0.00935. A worth hike is coming in about 4 days, so that you may wish to hurry with a view to lock in the most effective deal.

Buy MGMES from the official web site right here utilizing ETH, BNB, USDT, or a financial institution card. 

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