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Toncoin

Million

Billion

Toncoin has recently made a new milestone of surging to a high of $7.78 after rising for days, but the price declined moments after that. However, another trend favoring the surge to a new all-time high target appears in the <a href="https://coingape.com/markets/toncoin-price-analysis-is-ton-poised-for-20-milestone-soon/" rel="noopener noreferrer nofollow">Toncoin price</a> charts today. At the time of writing, the TON price is $7.55 after a 3% surge in the last 24 hours, with a market cap of $18.3 Billion after the same surge. Interestingly, this surge is the result of increased network activity, causing the trading volume to rise to $508.9 Million with a 90% hike.
<a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/toncoin/"><img decoding="async" src="https://coingape.com/wp-content/uploads/2024/06/image-2024-06-13T213452.625.png" alt="TON Price Analysis" width="668" height="356"></a>
In this blog, let us discuss what is happening with the TON price and how high it can grow.
<h2 id="why-is-the-ton-price-surging">Why Is The TON Price Surging?</h2>
Though the crypto market was under the influence of bear, impacted by the investor’s sentiments, today is different. Many cryptos, including the TON, have significantly recovered under the influence of <a href="https://coingape.com/glossary/consumer-price-index-cpi/" rel="noopener noreferrer nofollow">Consumer Price Index (CPI)</a> data. Moreover, the FED has kept the interest rate at the same rate despite the planned interest rate cuts this year.
Additionally, Toncoin has witnessed a big surge in the number of daily active users, which is higher than Ethereum. <a href="https://coingape.com/blog/why-telegram-is-popular-in-crypto/" rel="noopener noreferrer nofollow">Telegram</a>, the popular social media platform’s 900 Million users is behind this surge, helping increase network activity and growing buying pressure in the market.
The network has now locked $1 Billion in total value, with the increased number of Toncoin wallets from 1.28 to 8 Million, indicating surging demand among investors.
<h3 id="how-ton-price-can-rise-with-the-ongoing-surge">How TON Price Can Rise With The Ongoing Surge?</h3>
TON price is already rising, continuing the trend for hours now, and many more might come. Crypto analyst Ali Martinez predicted Toncoin price to gain a 40% surge, which can push it to a minimum of $11.
<blockquote>
 <a rel="noopener noreferrer nofollow" href="https://twitter.com/hashtag/Toncoin?src=hash&amp;ref_src=twsrc%5Etfw">#Toncoin</a> is gearing up for a potential 40% breakout, aiming for $11! However, the TD Sequential indicator suggests <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> might briefly dip to $7.2 to gather liquidity before the upswing. <a rel="noopener noreferrer nofollow" href="https://t.co/jMoZ1ugEga">pic.twitter.com/jMoZ1ugEga</a>
 — Ali (@ali_charts) <a rel="noopener noreferrer nofollow" href="https://twitter.com/ali_charts/status/1801182266774737341?ref_src=twsrc%5Etfw">June 13, 2024</a>
</blockquote>
Not only that, but many other analysts believe the same, where Andrew Kang has said,
<blockquote>
 TON is looking to be one of the biggest growth stories of this cycle
</blockquote>
Apart from these, the technical indicators and moving averages indicate the strong buy zone for this altcoin, aiding with the ongoing TON price surge. All the moving averages, including the <a href="https://coingape.com/education/simple-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">simple and exponential</a> ones for all the day differences ranging from 10 to 200, represent the buying zone. Moreover, the <a rel="noopener noreferrer nofollow" href="http://coingape.com/glossary/rsi-relative-strength-index/">Relative Strength Index (RSI)</a> is 63, and the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/" rel="noopener noreferrer nofollow">MACD</a> (12,26) level is also in the buying zone.
As per these indicators, the probability of continuation of the ongoing price surge is really high. The TON price is just 2.76% away from the ATH of $7.78, and with the continuation of the trend, it will achieve that in the next few hours. Lastly, if Ali’s prediction comes true, Toncoin will target $11 in the upcoming days.
Continue Reading <a href="https://coingape.com/trending/analyzing-the-performance-of-top-cryptos-in-todays-market-buy-sell-or-hodl/" rel="noopener noreferrer nofollow">Analyzing The Performance Of Top Cryptos In Today Market; Buy, Sell, or HODL</a>
The post <a href="https://coingape.com/trending/ton-price-is-rising-again-favoring-the-ath-whats-happening/" rel="noopener noreferrer nofollow">TON Price Is Rising Again Favoring The ATH; What’s Happening?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

TON Price Is Rising Again Favoring The ATH; What’s Happening?

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