hold or not - TON losses 18% over the weekend. Will it bounce back soon?

Key takeaways

TON is down 18% over the weekend following Durov’s arrest. $0DOG officially begins trading on Gate.io and MEXC exchanges.

TON dips Below $6 following Telegram CEO’s arrest TON, The Open Network’s native coin, is trading below $6 after losing 18% of its value over the weekend. The poor performance comes after Pavel Durov, Telegram’s founder and CEO, was arrested in France on Saturday. At press time, TON is trading at $5.64 and has dropped to the tenth place in the market. If the bearish trend continues, TON could drop below the $5.5 mark in the coming hours. However, Durov’s release could see the coin rally higher in the short term. What is Bitcoin Dogs? The cryptocurrency market continues to churn out excellent projects that provide unique value propositions to investors and users. Bitcoin Dogs has joined this rank after raising over $13 million during its presale. Bitcoin Dogs is a new project leveraging the growth of the Bitcoin blockchain to become a leading coin. As the first BRC-20 token ICO on the Bitcoin network, Bitcoin Dogs adds another layer of utility to the blockchain. It combines the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture to build a solid project. After raising $13 million during its presale, Bitcoin Dogs is now trading on the Gate.io, Unisat, and MEXC cryptocurrency exchanges. The team is now focusing on rolling out its various products. Bitcoin Dogs is launching the biggest NFT mint on the Bitcoin network. The team seeks to make the Bitcoin network a leading smart contracts blockchain, similar to Ethereum, Solana, and BNBChain. $0DOG trades above $0.02 Bitcoin Dogs completed its presale and is now trading on three cryptocurrency exchanges. $0DOG has been listed on three Tier-1 crypto exchanges: Gate.io, Mexc, and Unisat. Data obtained from MEXC showed that $0DOG is trading at $0.02181 per coin. Users can purchase $0DOG on MEXC and Gate.io. However, the only Bitcoin Dogs trading pair available currently is the 0DOG/USDT pair. The crypto exchanges could launch other $0DOG pairs as the project builds liquidity. Should you buy the Bitcoin Dogs token from the crypto exchanges? If you are interested in investing in the Bitcoin Dogs project, you can only buy the tokens via the above-mentioned cryptocurrency exchanges. This could be an excellent opportunity for investors to purchase $0DOG before it lists on more centralised and decentralised cryptocurrency exchanges. Bitcoin Dogs could be a big winner in this bull run thanks to the project’s unique proposition to investors and users.

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Analysis

Solana reclaimed the $160 level over the weekend to see SOL bulls reach the highest level since August 9. As a whale doubles down on SOL, what’s the outlook for Bitcoin Dogs?

Bitcoin recovered from a slight setback to trade above $64,000 on August 25, with this coming as the market reacted to news of the arrest of Telegram founder Pavel Durov. Despite the double-digit dips for Toncoin, Bitcoin held near $64k and Solana retested the $160 price level, while traders continued to show bullishness for Bitcoin Dogs. Whale stakes $4.5 million Solana (SOL) News of Telegram founder Pavel Durov’s arrest in France attracted negative reaction across crypto. Top coins declined alongside Toncoin (TON), the cryptocurrency powering The Open Network blockchain that’s increasingly being integrated with encrypted messaging platform. Here’s a comment from Edward Snowden:

The arrest of @Durov is an assault on the basic human rights of speech and association. I am surprised and deeply saddened that Macron has descended to the level of taking hostages as a means for gaining access to private communications. It lowers not only France, but the world. — Edward Snowden (@Snowden) August 25, 2024

Despite the downside pressure, Bitcoin remained near $64,000 and Ethereum changed hands near $2,700. Meanwhile, Solana reached highs of $160 for the first time since early August. A whale took advantage of the early slip to add to their SOL holdings. Per details by Lookonchain, a whale bought over 28k Solana (SOL) tokens worth over $4.5 million, which they proceeded to stake.

A whale bought 28,717 $SOL($4.56M) from #Binance today and staked it.https://t.co/X26MdvAuKh pic.twitter.com/iavZfNs9mb — Lookonchain (@lookonchain) August 25, 2024

The whale’s big move is in spite of the Solana network seeing fierce competition in the meme coin space from TRON. Over the past week, SunPump platform has taken a significant bite into Pump.fun’s dominance, including in terms of revenue. Is Bitcoin Dogs worth buying in current market? As analysts across the market have suggested in recent weeks, various cryptocurrencies could offer a notable opportunity for a long-term bet. BTC stands out for its potential breakout to a new all-time high. Meanwhile, traders hunting for the next gem are likely to find tokens such as Bitcoin Dogs potential opportunities. The Bitcoin Dogs token is the BRC-20 token that completed the first-ever presale on Bitcoin. After making its debut on Gate.io, MEXC and Unisat, the 0DOG token has quickly listed on Uniswap and DEXTools. OKX Web3 wallet also support the 0DOG token. In the lead up to Bitcoin Dogs’ listing on MEXC and Gate.io, top analysts suggested that this might a good buying opportunity for those eyeing 0DOG. Conclusion While Solana’s value has bounced off a multi-week hurdle, investors are bullish on SOL. Toncoin and Notcoin, which have tanked in the wake of Durov’s arrest, may yet bounce as the broader market eyes recovery. Meanwhile, Bitcoin Dogs has the potential to be a good long-term opportunity, particularly the project’s blend of play-to-earn, NFTs and DeFi on Bitcoin. After the token’s listing on Gate.io, MEXC and Uniswap, 0DOG may be worth watching should other top exchanges follow suit and provide further visibility. If interested in learning more about Bitcoin Dogs, visit their official website.

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