Is TONcoin Going Under?

• Toncoin’s price slump has left 96% of holders in the red, raising concerns about investor sentiment and market stability
• On-chain metrics revealed declining activity and profitability

So, the crypto world’s doing its usual ‘rollercoaster ride, but with more existential dread’ thing, right? And Toncoin [TON] holders? Honey, they’re feeling the wrath of the crypto gods. 💅

Apparently, 96% of TON holders are currently swimming with the fishes. That’s like, a whole school of red-faced investors. IntoTheBlock says so. They’re like the crypto fortune tellers, but with less “crystal ball” and more “blockchain data.”

96% of TON holders are underwater

Digging deeper into the crypto dirt, we find that almost all Toncoin investors are wearing the “I lost money” badge of shame. The MVRV [Market Value to Realized Value] ratio, which basically tracks how much everyone is crying over spilled milk (or in this case, digital coins), is saying “nope, we’re in the red.”

The MVRV 30-day ratio was like, -10.15%, which is basically a giant “we need a rescue mission” sign.

And if that wasn’t enough, the daily active address chart is showing that people are basically ghosting Toncoin.

New addresses? Not so much. It’s like a crypto ghost town in there.

Price performance and key resistance levels

Toncoin’s price has been on a downward spiral, like a sad clown car full of broken dreams.

It’s currently trading at $2.80, which is basically like, “please, send help.” It’s been hitting a wall at the $3.24 resistance level, which is like, the ultimate bouncer. A failure to break through could send TON spiralling down to the $2.50 support zone.

But wait, there’s a glimmer of hope! The RSI [Relative Strength Index] is at 42.06, which is like, “we might be oversold.” So maybe, just maybe, Toncoin could bounce back a little before crashing and burning again.

What’s next for Toncoin

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2025-03-15 00:10