Telegram’s TON Approaches SHIB, DOGE as Whales Make a Play

The new revenue sharing consensus with TON on Telegram has set off bullish vibrations in the crypto waters.

Large whale breathing out TON bubbles under the sea.
Created by Gabor Kovacs from DailyCoin
  • Toncoin’s demand skyrockets after Telegram launches an advertising platform.
  • The revenue is shared in Toncoin (TON), which conceived a 30% price boost.
  • A God Candle broke the two-year downward trend on March 11, 2024.

Toncoin (TON), a popular altcoin originally released by Telegram’s social media platform, is making waves in the cryptosphere. Picking up 30% gains over the past 24 hours, TON is now challenging two popular memecoins, Shiba Inu (SHIB) and Dogecoin (DOGE), for a sweet spot in the TOP 10 by crypto’s global market cap.

As the distance between #13 seated TON and SHIB is now less than 5 billion, crypto whales on Ethereum (ETH) have been spotted to accumulate millions of TON. To illustrate, one whale acquired 209,237 TON coins for 214 Ether (ETH), equal to $858K at $4.10.


Since the hefty transfer several hours ago, the 222,565 Toncoins held in the whale’s decentralized wallet are worth substantially more. Toncoin embarked on a journey to $4.48 but got rejected before the $4.50 support line could be broken, trading at $4.28 after a slight market correction.

The God Candle That Sent Toncoin Off

After a two-year hiatus, Toncoin breached the $3 price mark on March 11, 2024. Toncoin’s price charts showcase the God Candle printed at 13:00 GMT, which substantially boosted TON’s scorch past $4 today. This escalated TON’s bull run to 104.7% since last month.

The piling social mentions for Toncoin (TON) align well with the 415% daily increase in its trading volume. According to the combined Spot order book, $263 million of TON has been traded over the past 24-hour timeframe, while TON bids slightly outscore the pending sells, $4.89 million to $4.04 million.

Compared to other TOP 10 contenders, Toncoin’s combined liquidity is still significantly less than Shiba Inu’s or Dogecoin’s, as both memecoins encircle trading in the billions per 24-hour period. However, Toncoin’s trading volume will likely accelerate further due to the launch of Telegram’s revenue-sharing advertising platform, which employs TON as a reward token.

On the Flipside

  • Despite the huge whale transaction singled out by LookOnChain, other TON whales seem less optimistic about TON’s forthcoming price trajectory.
  • According to IntoTheBlock, TON’s transactions over $100K and concentration by whales have slightly dropped, despite TON being very close to a new all-time high.

Why This Matters

Telegram is the fourth largest messaging app worldwide, supporting blockchain adoption in social activities. The latest ad monetization strategy employing cryptocurrency significantly bolsters crypto adoption.


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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.