Toncoin (TON) Surpasses Dogecoin (DOGE) with 10% Gain, Eyes $10 Price Target

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In the world of cryptocurrencies, Toncoin (TON) has emerged as a top contender, surpassing Dogecoin (DOGE) to claim the eighth spot in terms of market worth. The coin’s strength and prospect for growth were highlighted when its price peaked at a record-breaking $7.10, following a remarkable 10% surge.

Toncoin exceeded Dogecoin as the market started recovering following a weekend of steep losses.

Toncoin’s Strong Performance and Market Cap Surge

Toncoin (TON) Surpasses Dogecoin (DOGE) with 10% Gain, Eyes $10 Price Target

Photo: CoinMarketCap

Over the past day, the value of toncoin has increased by 16.1%, bringing its current price to $7.10. In just a week, this growth amounts to a 19.58% increase. Conversely, DOGE experienced a 19.1% decrease in value during the same period. As a result, toncoin surpassed both DOGE and other coins in the rankings due to its impressive performance.

In the past month, Toncoin’s value has surged by an impressive 92.73%. Additionally, since March started, its value has increased by over 180%. This remarkable growth places Toncoin among the top-performing cryptocurrencies currently available. Ever since its launch, Toncoin’s worth has seen substantial expansion, and it now holds the eighth-largest market size in the cryptocurrency realm.

Toncoin’s economic outlook is optimistic at present, as indicated by the ascending Relative Strength Index (RSI). Moreover, the appearance of candlesticks with elongated tails near the support line suggests substantial buying activity among investors. Should the price surpass the current support level of $7.50, it could potentially trigger a significant price surge towards the target price of $10.

Key Developments Driving Toncoin’s Surge

It’s been suggested that Telegram could soon hold an initial public offering (IPO), allegedly contributing to the surge in Toncoin’s value. The Telegram CEO has disclosed that potential business deals amounting to $30 billion are underway for their chat app.

To earn money through Telegram, ads are going to be introduced in chat sessions, giving users Toncoin as compensation. Advertisers will have greater control over the placement and extent of their TON-powered ads.

The connection between Toncoin and HashKey has boosted investor confidence, causing its value to increase as well. Toncoin’s development has additionally benefited from the overall optimistic atmosphere in the crypto market, fueled by Bitcoin‘s recent price surges.

Looking Ahead

Toncoin aspires to surpass XRP and has shown remarkable tenacity in doing so. It recently overtook Cardano (ADA) to enter the elite group of the top 10 cryptocurrencies by market capitalization.

The thriving Toncoin system owes its success to its passionate user base. This vibrant community plays a pivotal role in fostering new ideas and propelling the network forward.

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2024-04-15 15:30