**Toncoin Faces Turbulence Amid Telegram Founder’s Arrest**

Toncoin (TON) has experienced a rollercoaster ride recently. Following the arrest of Telegram founder Pavel Durov on Aug. 25, TON plummeted over 25%, hitting a low of $4.45 on Sept. 6. However, it quickly rebounded by 15% to above $5.15 by Sept. 9.

Despite this recovery, technical indicators suggest TON may continue its downward trend. The coin is currently in an inverse cup-and-handle pattern, a bearish signal that could push its price down to around $3.60, a 30% drop from current levels.

Adding to the pressure, global crackdowns on Telegram have intensified. South Korea, India, and the European Union are investigating the platform for various issues, including deepfake crimes and false user data. This negative sentiment could further impact TON's market stability.

Interestingly, large TON investors, or "whales," seem undeterred. Data from Santiment shows an increase in holdings among top investors, and the total value locked (TVL) in the TON ecosystem has risen, thanks to new projects like gaming and memecoins.

While the short-term outlook for TON appears bleak, its growing ecosystem might offer some long-term resilience.