Toncoin Drops 22% as Whales Keep Accumulating
The Most Important Points at a Glance
- Toncoin (TON) has lost 22.53% of its value in the last 30 days.
- Currently, 96% of Toncoin holders are at a loss.
- However, large investors (“whales”) are not selling but rather accumulating more.
- The market development depends on whether selling pressure continues or buyers seize the opportunity.
Toncoin in a Downtrend: 96% of Holders in the Red
Toncoin has experienced a strong downward movement over the past two months. Since its peak of $5.60, the price has dropped to $2.90. In just the last 24 hours, the price fell by 2.25%. On a weekly and monthly basis, there has also been a significant decline of 11.68% and 22.53%, respectively.
According to data from IntoTheBlock, only 3% of Toncoin holders are currently in profit. 96% are at a loss, while 1% of investors are at their entry price. Such a high percentage of losses could trigger further selling, as investors might try to limit their losses.
Whales Are Holding on to Their Holdings
Despite the negative price trend, large investors are not selling their holdings. On the contrary, the number of Toncoins held by whales has increased—from 426,300 to 603,370 TON within a day. This suggests that they see the price decline as a buying opportunity.
Data from IntoTheBlock also shows that large holders are transferring less capital to exchanges. Whale inflows to exchanges have dropped from 1,023% to -759.48%. This signals accumulation and continued positive sentiment among major investors.
What’s Next for Toncoin?
Despite the whales’ reluctance to sell, selling pressure remains in the market. Toncoin’s Relative Strength Index (RSI) has dropped to 27, indicating an oversold situation. This could lead to two possible scenarios:
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- If buyers see the decline as an entry opportunity, the price could rise to $3.20.
- If selling pressure continues, Toncoin could drop to $2.80 before a potential recovery.
Our Assessment
Toncoin is in a critical phase. While many investors are realizing losses, large investors are betting on a recovery. The key factor will be whether new buyers step in or if selling pressure persists. In the short term, uncertainty remains, but whale accumulation could support long-term stabilization.
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