【As the hype of Telegram airdrops fades, Toncoin active addresses drop to a 6-month low】
Toncoin's price has recently declined, possibly related to the shift in market sentiment following the Telegram airdrop events from August to September. Airdrop activities such as DOGS and Hamster Kombat attracted a significant number of active addresses, but users became disappointed with the value of the tokens received, leading to a decrease in participation. According to data, the number of short-term holders has significantly decreased after the airdrop activities.
Currently, Toncoin's price is $5.18, with the Chaikin Money Flow (CMF) technical indicator showing negative values since September 28, indicating increased selling pressure and the potential for further price drops to $4.46. However, if the Telegram airdrop in October brings higher value, demand may rebound, and the price is expected to rise to $6.20.
