Toncoin Price Prediction: TON Drops 8% After Binance Launchpool Debut As This Blockbuster ICO Nears $9 Million

The Toncoin price plunged 8% in the last 24 hours to trade at $6.67 as of 9:30 a.m. EST, as the trading volume jumped 52% to $411 million.

This price drop comes as Binance launches its 56th project on Binance Launchpool: Toncoin (TON), a new decentralized blockchain.

$TON is taking off! 🚀 Binance just launched its first-ever Launchpool & Super Earn event for a mature ecosystem token – that’s $64M up for grabs! 💰 Don’t miss out on this golden opportunity to earn $TON. #Binance #TON #Launchpool #crypto pic.twitter.com/CpZqxYxOyk

— NFTevening ɢᴍ (@NFTevening) August 15, 2024

Starting from Aug. 15, 2024, at 00:00 (UTC), users can stake their BNB and FDUSD in different pools to earn TON tokens over twenty days.

Binance is also introducing Binance Super Earn, a new feature that lets users earn a special APR on newly listed tokens right after launch. Users can get this special APR by locking TON in Simple Earn Locked Products.

Toncoin Price Analysis: Bulls Poised For A Rally?

Toncoin has been on a steady uptrend, with the bulls driving the price higher, supported by a rising wedge on the daily chart. This dynamic support has allowed buyers to maintain a series of higher lows, indicating active asset accumulation during market dips. The price is trading within an ascending channel, although it faced a slight downturn after reaching a high of $8.25, leaving bulls struggling to regain control.

However, the support zone at $5.12 has given the bulls a foundation to push the price back to the bullish channel. But can the bulls sustain this momentum?

TONUSDT Analysis Source: TradingView

Bulls have steadily pushed the price up from below the lower trendline, reaching $6.4. Although still below the 50 Simple Moving Average (SMA) it is still trading relatively above the 200-day SMA, providing strong support and maintaining the bullish momentum. Increased momentum should be able to push the price to the upper boundary of the channel and, hence, a new high.

Despite a short-term bearish trend in the Relative Strength Index (RSI), it has rebounded from oversold territory at 30, crossed the midline at 50, and reached 53. This indicates intense buying pressure that could push it into the overbought zone.

The green histogram bars on the MACD indicator and the recent crossover of the blue average line above the orange signal line further support Toncoin’s bullish outlook. If this upward momentum continues, the price could surge past the upper trendline, potentially reaching the $11.12 resistance level.

Toncoin Price Prediction

Toncoin’s price is set for a significant bull rally despite the resistance posed by the 50-day SMA. Supported by strong technical indicators, traders might act on this bullish pattern to drive TON towards a potential new all-time high of $11.82.

The sentiment among Toncoin traders remains positive, with expectations of continuing the bullish trend following the pennant formation. If momentum increases, it could push the price above the key resistance level of $8.25, confirming the anticipated bull rally.

PEPU Presale Raises Over $8.8 Million-Next Meme Coin To Explode?

While the Toncoin price tries to re-enter the ascending channel, supercharged meme coin Pepe unchained (PEPU)  has raised over $8.8 million in its ongoing presale.

Are you ready to connect to the first meme coin layer 2? It’s coming soon!🐸🧠 pic.twitter.com/4Dgs0pSkot

— Pepe Unchained (@pepe_unchained) August 11, 2024

Pepe Unchained (PEPU) is set to launch an upgraded version of the popular PEPE meme coin. Until now, the potential of this frog-themed project has been limited because it is housed on the busy Ethereum blockchain.

Pepe Unchained aims to boost PEPE by moving transaction processing away from the main Ethereum network with its layer-2 network. This will allow the upgraded meme coin to achieve transaction speeds up to 100 times faster than other meme coins on Ethereum. Plus, PEPU holders will benefit from lower transaction costs, which could increase on-chain activity.

Pepe is in the incubator, getting ready to be reborn! 🐸🧪 pic.twitter.com/yjZuDr0cee

— Pepe Unchained (@pepe_unchained) August 14, 2024

Using its blockchain, PEPU combines Ethereum’s strong security with high-speed transactions. This setup allows token holders to easily move their assets between Ethereum and the Pepe Unchained networks

PEPU also offers investors who buy and stake PEPU at this early stage a 223% APY. This is perhaps why PEPU has caught the attention of analysts, including prominent crypto influencer Austin Hilton, who has 273k YouTube subscribers and believes that PEPU has massive growth potential.

PEPU is selling for $0.0090901 per token, and can be purchased using the simple widget on the official website. You can buy the token using ETH, USDT, BNB or bank card. You might want to hurry, because the crypto’s price will increase in around 24 hours.

Buy PEPU here to secure the best deal.

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