- Toncoin crashed a massive 8.5% in the past 24 hours.
- DOGS also dipped 8.98% at the same time.
- Notcoin (NOT) bled 10% in the past 24 hours and dropped to $0.007628
Toncoin (TON), the native token of The Open Network, a blockchain associated with Telegram, has seen a sharp decline in its price in the past 24 hours along with other tokens on the blockchain, including Notcoin (NOT) and DOGS (DOGS).
According to the data from CoinMarketCap, TON fell a massive 8.56% and trades at $4.79 at the time of publication. Additionally, the cryptocurrency’s trading volume jumped 63.18% and is currently at $351 million. With a market capitalization of $12.14 billion, Toncoin holds its position as the 10th-largest digital asset in the crypto space, but Cardano (ADA) is closing in on the 10th position.
In the past seven days, TON is down 10.41%, while in the past 30 days, it has plummeted almost 21%. However, TON is up 148.49% since August 2023 and was one of the strongest performing tokens this cycle. The recent weak performance of the TON token is potentially linked to the arrest of Telegram’s Pavel Durov.
The chart from TradingView below shows the Relative Strength Index (RSI) for the TON/USDT price action. It clearly indicates that the RSI is at a value of 31.25 which means that the altcoin might enter the oversold region. The gradient of the line also suggests lower prices.
Notcoin (NOT), another token on the TON blockchain, has also experienced a similar downturn, falling 10% in the past 24 hours to $0.007628. The cryptocurrency is down 12.61% in the past week and 33.02% in the past 30 days. Since May, the cryptocurrency has declined 47.32% while it is 73.66% down from its all-time high of $0.02896.
A leading meme coin on the TON blockchain, DOGS has also dropped 8.98% in the past 24 hours, and the price of the cryptocurrency at the time of writing stands at $0.001023. The project aims to take advantage of the large user base of Telegram and promote the adoption of DOGS. In the past seven days, DOGS fell 16.22% while it is down a significant 35.73% since last month.
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