Toncoin is seen as one of the top cryptos, alongside Sui and Rollblock, destined to skyrocket before Christmas. The signals that predicted a 350% rally in Q1 2024 are now appearing once again for Toncoin. There are views that the coin might struggle to break the $6 mark in 2024 due to certain market conditions. However, other market trends show a 27% surge, breaking resistance and setting the stage for a potential move towards $9.
The price of Toncoin may be influenced by several market-related events, including Gensler’s exit and the surge of crypto whales increasing their holdings in Toncoin. This surge by the whales and other sought-after information suggest that Toncoin might hit new all-time highs.
Despite the positive output, it is also suggested that Toncoin is at risk from a sudden dive in the burn volume for coins such as HMSTR, Catizen, Notcoin. However, the continuous rise to stabilize above $5.20 and both short and long-term support from Toncoin infrastructure projects portray a bullish outlook for the cryptocurrency. The recent downturns from the arrest of Telegram CEO Pavel Durov affected Toncoin's value, plunging the price, even though it still holds above $5.
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