If you follow TON, the TON ecosystem is now fully promoting a dog named REDO!
On Binance, you will see that the TON icon has been replaced by this cute REDO dog. This operation is so cool! See how this dog sets off a new trend in the TON ecosystem!
The market value of REDO Dog, which was born in January 2024, has soared to $81 million! What's more exciting is that it has skyrocketed 148% in the past 24 hours!
Image: Resistance Dog
REDO, the legendary pet known as the "resistance dog," has attracted the attention of the entire network. It not only interprets the rebellious spirit of Telegram founder Pavel Durov, but also quickly became a star symbolizing freedom and resistance after the Telegram founder was recently arrested in France.
REDO may become the MEME leader of the TON ecosystem, or even a symbol of freedom of speech and resistance to censorship in the entire crypto industry.
So, what exactly is REDO?
The name comes from a work Durov drew himself in 2018, officially called Resistance Dog, which is a dog wearing a hat.
Its debut dates back to 2009, when the movement against Putin took place in Russia. Durov received an email from the Kremlin asking him to help shut down Alexei Navalny's VK account.
He responded with a photo of a puppy with its tongue sticking out and wearing a blue sweatshirt, along with the caption: "That's my answer." This scene made REDO a powerful symbol of resistance and freedom.
In 2014, civil unrest broke out in Ukraine, Russian troops occupied the Crimean Peninsula, and Crimea voted to secede from Ukraine and join Russia. During this turbulent time, Durov received emails asking for the information of Ukrainian politicians.
Durov responded: "My mother is Ukrainian, my father is Russian - these two countries are the two closest relatives in my national family, and I cannot take sides." He then responded with a photo of two puppies.
These two photos became the symbol of Telegram, and the image of a dog wearing a hat gradually became the spiritual totem of Telegram. In subsequent tweets, Telegram officials interacted with REDO resistance dogs, and REDO also became the unofficial mascot of Telegram's vision of "resisting" censorship.
However, the turning point happened recently on Saturday, when Durov was arrested in Paris on charges including terrorism, drug trafficking, fraud, money laundering and child abuse. After the incident, Telegram and TON ecosystem quickly voiced support for Durov, Musk also issued a statement of support, and Justin Sun took out his ancestral $10 million.
In this solidarity movement, what is particularly noteworthy is the "Digital Resistance" movement, which was initiated by members of the TON Foundation and aims to defend personal freedom, privacy and information security through technological means.
In this movement, REDO, as the MEME coin in the TON ecosystem, has received great attention due to its symbolic significance, as if it has become the spiritual totem of this movement.
The official X account of TON chain has now changed its profile picture to the REDO image, and has pinned a post calling on community members to change their profile pictures to resistance dogs. This action stems from the latest statement from the TON community account TON Society:
“Today, we stand firmly with Telegram founder Pavel Durov. In support of the ‘Digital Resistance’ movement, we are updating the Toncoin logo and profile picture of the TON Community Channel to the icon of global digital resistance – the Resistance Dog. Durov is fighting to defend the privacy and freedom of expression of Telegram users, launching this important movement.”
This post was like a battle cry, and it also inspired all participants to change their profile pictures to resistance dogs, which became the visual symbol of this global movement.
The head of the TON community even @ Musk, suggesting that the blue verification process on the X be accelerated for users who change their avatars to REDO, and said: "This is a movement with far-reaching cultural significance."
This move seems to be a clever marketing strategy. Musk has previously publicly expressed support for Durov and stressed the importance of freedom of speech. Now, the TON image of the Binance exchange has also been updated to this resistance dog, further consolidating the symbolic status of REDO.
It is expected that the future trend of REDO will closely follow the development of this movement and become an important part of the global wave of digital resistance movement.
Currently, the MEME coins related to Durov's arrest have attracted widespread attention in the market. In the TRON ecosystem, a MEME coin called FREEDUROV soared due to Sun Yuchen's support, but has now fallen back and its market value is about 1 million US dollars. In the TON ecosystem, there are also several outstanding MEME coins, one of which has a market value of more than 2 million US dollars, but the trading volume is still low.
It is worth noting that DOGS, another MEME coin in the TON ecosystem, will undergo TGE on the 26th. Its image is also dog-themed and is expected to be affected by this event.
After Telegram and TON founder Pavel Durov was arrested in France, the TON ecosystem was hit. The authorities immediately launched a protest movement called "Resistance Dog", which received widespread support and pushed the market value of the related MEME coin REDO to soar. Although Durov's legal prospects are still full of uncertainty, the spirit of resistance represented by REDO has aroused strong resonance in the community.
After Durov was arrested, TON’s official Twitter account quickly updated the Coingecko and social media logos to “Resistance Dog” and called on everyone to change their avatars to “Resistance Dog” and participate in the global digital protest movement.
Subsequently, the movement received support from people from all walks of life, including Steve Yun, chairman of the TON Foundation, some Binance pages, and Musk, who changed their profile pictures or expressed their support. As a symbol of this protest, REDO's market value has skyrocketed by more than 250%.
Resistance Dog, a dog in a hoodie, has become a symbol of Durov, a liberal activist. Back in 2011, when Russian security agencies asked Durov's social networking site VK to shut down a protest page, Durov responded with a photo of a dog in a hoodie with its tongue sticking out, an image that became a symbol of his defense of personal freedom and privacy.
It was this steadfast attitude that led Durov to create Telegram to further the protection of freedom and privacy.
Resistance Dog, an image hand-drawn and named by Durov in 2018, has become a symbol of the digital resistance movement.
It represents the firm struggle to defend personal privacy, information security and freedom, and has gradually become Telegram's unofficial mascot. This image not only reflects the protection of user privacy, but also highlights the adherence to freedom of speech.
REDO, the MEME coin launched in January this year, has once again become popular due to Durov's arrest. According to Dex Screener data, REDO's market value once exceeded US$95.7 million, and its trading volume in the past 24 hours soared to US$17 million.
Since August 25, the price of REDO has soared by nearly 254.5%. However, judging from the trend since its launch in January this year, the current price of REDO is still more than 46.8% lower than its historical peak.
News of Durov’s arrest has generated widespread concern, with French authorities set to release a statement on August 26, with French media reporting that Durov could face charges related to Telegram’s operations and its lack of censorship.
In response, the Russian Embassy has contacted French authorities to seek clarification on Durov's detention, and some Russian officials have viewed the arrest as an indirect hostile act against Russia.
Telegram responded on its official X platform account that the platform strictly abides by EU laws, including the Digital Services Act, and said that Durov had nothing to hide and that the platform's review procedures were constantly improving.
They believe that it is completely absurd to accuse a certain platform or platform owner of being responsible for the abuse on the platform. The Telegram team is actively waiting for the incident to be resolved to ensure the information security of nearly one billion users around the world.
Affected by Durov’s arrest, the TON ecosystem has suffered a significant impact. CoinGecko data shows that since August 25, TON’s circulating market value has shrunk by US$3.77 billion, falling out of the top ten by market value.
Although the current TON price has rebounded slightly by about 9.2% from its low point, data from DeFiLlama shows that TON's TVL plummeted by more than 37% to US$320 million in a single day, and has now recovered to US$390 million.
In response to Durov’s arrest, many leaders in the crypto space have increased their holdings of tokens to show their support.
For example, DWF Labs partner Andrei Grachev announced on the X platform that despite limited actions, he decided to do his best to provide support and has purchased about $500,000 worth of TON tokens on the open market. He plans to keep these tokens on the chain until Durov is released. He said this is not financial advice, but just to support decentralized technology.
The Memeland team also announced that it had used $1 million of team funds to purchase TON on the market and would hold these tokens until Durov was released; Zhu Su, co-founder of Three Arrows Capital, also revealed on social media that he had bought TON tokens at an average price of $5.8.
Regarding the future direction of TON, Richard Galvin, co-founder of the hedge fund DACM, which participated in the private placement round of TON, said in an interview with Bloomberg that it is too early to predict the long-term impact of Durov's detention on Telegram. The market reaction temporarily reflects this uncertainty in the price of TON.
CoinTelegraph reported that market analysts believe that TON may see a sharp rebound in the coming weeks, which is similar to the historical trend of BNB.
Although news of the legal dispute triggered panic selling in the market as traders rushed to protect their investments from potential risks, once the initial shock subsides, the market will reassess the situation more rationally, and this psychological pattern is likely to appear in TON as well.
Okay, that’s all the information for this issue for now.
