Summary
Toncoin, a cryptocurrency developed by Telegram and handed to the open-source community, is gaining popularity and nearing the market cap of Dogecoin. Rumors of Telegram going public and the Notcoin game have contributed to Toncoin’s surge. Technical analysis suggests a potential bearish correction is imminent. The coin’s price discovery zone and support levels are discussed. Toncoin recently surpassed Cardano in market cap and is close to overtaking Dogecoin.
Key Points
1. Toncoin, the cryptocurrency developed by Telegram and then handed to the open-source community, is closing in on the market capitalization of Dogecoin.
2. Toncoin has seen a significant surge in value, with a 7.31% increase in the last day, bringing its market cap to $25 billion, just $2 billion away from Dogecoin’s $27.6 billion.
3. Technical analysis of Toncoin suggests a bullish trend but also indicates a potential bearish correction as the coin’s Relative Strength Index (RSI) shows it is being overbought.