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Is Toncoin Heading Down? TON Price Wobbles as New Dogecoin Rival Reaches $5.2M

Tim Hakki
Last updated: | 2 min read

The Toncoin ($TON) token powering The Open Network, a blockchain that is indirectly affiliated with popular messaging app Telegram, appears to be wobbling today.

In the early hours of the morning, the token posted intraday losses of around 8%, although the correction appears to have lost steam. At the time of writing, Toncoin is 1.5% down from this time last week and trades at around $7.14 per token.

The Open Network was a Layer 1 blockchain project initially started by popular messaging app Telegram in 2018, before spinning out in 2020 after the US Securities and Exchange Commission charged Telegram’s sale of Toncoin as a violation of securities laws.

According to the data for the last three months, Toncoin spiralled towards the end of May, reaching lows of $4.80 per token. The token recovered by the end of the first week of May and regained the $6 mark, where it has found strong psychological support over the period in question, as shown by the horizontal green lines.

Source: TradingView

However, the Toncoin token faces stiff resistance at $7.60, but with a relative strength index of 57 and climbing, there’s a chance it could climb a leg higher this week, or hold the fort at its current price. A major sell-off is unlikely, unless market leader Bitcoin (BTC) goes south.

Bitcoin remains virtually unchanged from this time last week at a price of $69,560.

As Toncoin Token Wobbles, Crypto Fans Stockpile Loyal AI-Integrated Trading Bot Friend, WienerAI

Being a Layer 1, Toncoin ($TON) and The Open Network are cultivating an exciting ecosystem with some popular new token projects right now, including the tap-to-earn token/game dApp Notcoin.

However, for those looking to get a head start on the next big innovation in crypto, AI-integrated meme coins are the talk of the town.

A new generation of coins like ScottytheAI and WienerAI are doing what no other meme coin projects are doing right now: integrating artificial intelligence to make their holders’ lives easier.

These coins combine the viral appeal of memes with the utility goldmine of artificial intelligence and attracting millions.

On the surface, WienerAI looks like another dog-themed meme coin, but it’s much more than that.

It’s a next-generation crypto project that utilizes viral marketing strategies in order to bring crypto fans a high-value proposition: the most advanced beginner-friendly AI trading bot in crypto.

The presale is only a month old, and it has already taken a tidy $5.3 million in investments.

Touted as a “Revolutionary AI Trading partner”, WienerAI ($WAI) is a digital companion that gives its owners user-friendly AI-enhanced trading advice, seamless swap functionality and zero fees.

Blockchain security platform Coinsult audited WienerAI’s smart contract.

Around 20% of $WAI’s supply is for staking.

WienerAI’s website offers buyers the ability to stake during the presale, in order to take advantage of the lucrative yield, which is currently 210% APY.

All this suggests WienerAI could be a much more profitable token than Toncoin this year.

Keep on top of WienerAI news over on X and Telegram.

Join the presale now over on the WienerAI website.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.