The Toncoin (TON) blockchain has made waves in the industry with its meme coin projects, led by Dogs (DOGS) and Resistance Dog (REDO), among many others.
Azcnews Dogs Token Price Poised For Strong Recovery
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By leveraging nearly 1 billion Telegram users, the Toncoin ecosystem successfully launched a range of meme coins, receiving substantial support from the Web3 community.
As a result, these meme coin projects are expected to experience significant volatility and notable gains, especially in anticipation of the upcoming altseason. According to the latest market data, the leading meme coins on the TON network boast a combined market capitalization of approximately $593 million, with an average daily trading volume of around $479 million.
DOGS Token Primed for a Parabolic Recovery
From a technical perspective, DOGS has been stuck in a downtrend against the US dollar over the past week following its impressive launch. However, this low-cap altcoin, with a fully diluted valuation of around $575 million and an average daily trading volume of roughly $475 million, has shown signs of a potential short-term reversal.
According to renowned crypto analyst Captain Faibik, DOGS has broken out of its logarithmic hourly downtrend. The analyst suggests that a successful retest of this hourly support level could lead to at least a 40 percent price increase in the short term.
The bullish sentiment surrounding DOGS is strongly reinforced by its rapidly growing community of approximately 2.58 million holders, a milestone achieved in just ten days.
The Bullish Outlook for Toncoin
Despite legal challenges Telegram faces in several jurisdictions, particularly after the recent arrest of Pavel Durov in France, Toncoin’s projects continue to draw substantial attention from speculative investors.
Moreover, the Toncoin network offers users low transaction fees and high liquidity. Recently, the network also announced that necessary measures have been implemented to ensure continuous operations amid heightened on-chain activity.
Earlier this week, the Toncoin network celebrated a major milestone of reaching 1 billion transactions.
