Date: Thu, August 29, 2024, 03:56 AM GMT
In a significant positive news for the Ton ecosystem, Telegram CEO Pavel Durov has been released from police custody and transferred to a Paris court for an initial inquiry and possible charges. This news has sparked a notable surge in the prices of Telegram-related tokens, including Toncoin (TON), Notcoin (NOT), and Dogs (DOGS), which had previously dropped due to the uncertainty surrounding Durov's arrest.
Durov's arrest on August 24, 2024, at Paris's Bourget Airport sent negativity through the cryptocurrency market. He was detained on charges ranging from spreading child pornography to drug trafficking and money laundering, leading to a sharp sell-off of TON tokens as investors reacted to the troubling news.
However, the recent update on Durov’s situation has provided much-needed relief to the Ton ecosystem. DOGS, in particular, has shown promising signs of recovery. Currently trading near the $0.001470 support level, the token is moving within a symmetrical triangle pattern and has experienced a price surge of over 17.16% following the news of Durov’s release.
Source: TradingView
In addition to the price increase, DOGS has seen a significant spike in trading volume, up by 79% as traders respond to the positive news. Analysis suggest that a strong pullback from its current position could lead DOGS to break through the resistance level between $0.001510 and $0.001520. If this breakout occurs, DOGS could be on the brink of substantial gains in the near future.
As the market closely watches the developments surrounding Pavel Durov, DOGS investors are hopeful that the token will continue to rise, capitalizing on the renewed confidence in the Ton ecosystem.
