Telegram Link Altcoin Changes Logo: Meme Coin Price Soars Into Space!
Toncoin's (TON) logo change benefited a meme coin with a similar logo.
After Telegram founder Pavel Durov was arrested in France, the cryptocurrency market took action. Telegram-affiliated Toncoin changed its logo to show that they were with Durov.
However, since this logo was very similar to the logo of a meme coin called Resistance Dog (RED), the price of the meme coin quickly increased by 200%.
According to data provided by the on-chain analysis platform Lookonchain, an investor who noticed the opportunity early sold all of REDO, worth $881,000, for a profit of $107,275 SOL ($606,000). In this way, he achieved a 12-fold return.
The same investor also managed to earn $30,000 with a 35x return thanks to a meme coin called TINU. He has traded 11 meme coins so far. So far, he has a 54.5% winning rate and a profit of $652,000.
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