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

TONCOIN Price Plunges 8%, Binance Launches Launchpool Launch

In the last 24 hours, the price of TONCOIN has dropped 8% to $6.97, while trading volume has surged by 52% to $411 million. This decline coincides with Binance's launch of its 56th project on Binance Launchpool: TONCOIN (TON). This decentralized blockchain will be live 24 hours before the Launchpool's initiation.

Binance Launchpool and Super Earn

Starting August 15, 2024, users can stake their BNB and FDUSD in designated pools to earn TON tokens over 20 days. Binance is also introducing Binance Super Earn, permitting users to earn a special APR on newly listed tokens immediately after launch. This APR is accessible by locking TON in Simple Earn Locked Products.

Toncoin Price Analysis

Toncoin has maintained a consistent uptrend, with bulls driving the price upward, reinforced by a rising wedge pattern on the daily chart. Despite a minor downturn after reaching $8.25, bulls have regained momentum by finding support at $5.12.

Indicators and Momentum

Technical indicators support a bullish outlook for TONCOIN. The price is trading above the 200-day SMA while approaching the 50-day SMA, indicating bullish momentum. The Relative Strength Index (RSI) is also recovering from oversold territory, signaling buying pressure. Additionally, the MACD indicator suggests continued upward momentum.

Toncoin Price Prediction

Despite the resistance from the 50-day SMA, technical indicators indicate a significant bull rally for Toncoin. Traders may leverage the bullish pattern to drive momentum towards a potential new all-time high of $11.82.

Pepe Unchained Raises $8.8 Million

Amidst the Toncoin bullishness, Pepe Unchained (PEPU), a supercharged meme coin, has raised over $8.8 million in its ongoing presale. This meme coin upgrade will launch on a layer-2 network, offering faster transaction speeds and lower fees on the Ethereum blockchain. PEPU also provides a 223% APY for early investors who buy and stake PEPU, attracting the attention of analysts and influencers.

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