Toncoin (TON) Surpasses Dogecoin (DOGE) with 10% Gain, Eyes $10 Price Target

In the cryptocurrency arena, Toncoin (TON) has become a market leader, overtaking Dogecoin (DOGE) to take the eighth position in terms of market value. The coin’s resilience and potential for future development were demonstrated when its value reached an all-time high of $7.10, after an astounding 10% rise.

Toncoin exceeded Dogecoin as the market started recovering following a weekend of steep losses.

Toncoin’s Strong Performance and Market Cap Surge

In the last 24 hours, the price of toncoin has gone up by 16.1%. It is now worth $7.10 as of this writing. With this gain, it has now gained 19.58% in a week. DOGE, on the other hand, has dropped 19.1% within the same time frame. Because of how well it has done, TON has risen above DOGE and other coins in terms of ranking.

Toncoin’s value has grown by 92.73% in just one month and by more than 180% since the beginning of March. This makes it one of the best-performing cryptocurrencies out there. Toncoin’s value has grown significantly since it was first released. It is now the eighth-largest cryptocurrency market by market size.

The economic future for Toncoin looks good right now with The Relative Strength Index (RSI) pointing up. Along with that, candlesticks with long tails that are close to the support line show a lot of buying action. If the price goes up above the support level at $7.50, it could lead to a big rise toward the goal price of $10.

Key Developments Driving Toncoin’s Surge

There are reports that Telegram might go public, which is reportedly linked to the rise in the price of Toncoin. Telegram CEO revealed that the chat app is receiving deals worth $30 billion.

In an attempt to make money from Telegram, ads will be integrated into chats, and users will get Toncoin as a reward. With TON-based ads, advertisers will have more say over where and how much their ads show up.

Toncoin’s link with HashKey has made investors even more secure, triggering its price to also going up. Toncoin’s growth has also been helped by the general positivity in the cryptocurrency market, which has been sparked by Bitcoin’s recent price rises.

Looking Ahead

Toncoin has ambitious goals and it could potentially beat XRP in the future. To reach this point, Toncoin had to be resilient, as demonstrated when it eclipsed Cardano (ADA) earlier this month to join the top 10 cryptocurrencies by market value.

The Toncoin ecosystem is doing very well thanks to its enthusiastic users. This community is a big part of what drives innovation and moves the network forward.

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