As August progresses, Toncoin (TON) and Bitcoin Dogs, two leading players in the crypto space, are gaining attention. Toncoin is showing impressive bullish momentum, while Bitcoin Dogs is gearing up for a significant market debut.
As the cryptocurrency market reports fluctuating trends, those advancements offer a desirable insight into the virtual asset conversion landscape. This article takes a look at the bullish signals for Toncoin and the highly anticipated launch of Bitcoin Dogs on primary exchanges.
Toncoin (TON) has shown strong bullish signals, positioning itself as one of the active cryptocurrencies.
As of August 19, 2024, Toncoin was trading at $6. 82, reflecting a notable 8. 36% increase over the previous week, despite a broader market decline. This accumulation is attributed to several key factors, adding technical patterns, basic developments, and on-chain data.
One of the most compelling technical signals for Toncoin is its exit from a Bump-and-Run Reversal (BARR) pattern. This trend, a precursor to a significant bullish move, suggests a possible value accumulation of around 40%, targeting the $9. 50 mark.
The BARR setup begins with a lead-in phase, followed by a sharp downturn (bump), and culminates in a recovery and eventual breakout (run). Recent price behaviour aligns with this setup, reinforcing the bullish outlook.
The breakout, which occurred around August 18, 2024, marked a sustained rise above the previous downtrend line, along with an increase in trading volume. This technical upgrade is additionally supported by the fact that Toncoin is trading above its 50-day and 200-day exponential moving averages (EMA), either of which appear to be sloping upwards.
Furthermore, the Relative Strength Index (RSI) remains above the unbiased level of 50, indicating continued purchasing tension despite near-term overbought conditions.
Fundamental points also played a role in Toncoin’s recent surge in value. Notably, Toncoin’s board on Binance on August 15, 2024 has particularly improved its liquidity and market accessibility.
Furthermore, the integration of Toncoin with the Injective decentralized financial protocol on August 14, 2024 allowed TON-based assets to be used within the Injective ecosystem, its application and adoption.
Additional on-chain data supports the bullish sentiment surrounding Toncoin. Research shows a redistribution of tokens from giant holders (whales) to small investors. As of August 19, 2024, the percentage of Toncoin held through addresses containing between 100,000 and one million coins has decreased, while the percentage held through addresses containing between 10,000 and 100,000 coins has increased.
This update indicates growing buying interest among midsize investors, a precursor to bullish price action.
In a parallel development, Bitcoin Dogs is expected to make its market debut on August 21, 2024. The project, which raised over $13. 496 million in its pre-sale, will list its 0DOG token on 3 major exchanges: Gate. io, MEXC Official portfolio and Unisat.
This level marks the transition from pre-sale to active trading and is expected to generate widespread interest and advertising activity.
Bitcoin Dogs stands out for being the first ICO on the Bitcoin blockchain, which combines blockchain generation with dog-themed virtual assets. The task includes a metaverse called Dogaverse, where users can interact in activities, adding dog-themed gameplay and NFT trading.
The Bitcoin Dogs presale was a resounding fortune and the upcoming stock market listings constitute a pivotal moment for the project. The strategic choice of exchanges reflects Bitcoin Dogs’ commitment to expanding its market and offering sufficient liquidity for its tokens.
The token claim procedure will also begin on August 21, allowing participants to pre-sell their tokens.
Looking ahead, Bitcoin Dogs has laid out an ambitious roadmap, adding a beta edition of the game, token staking, and multi-chain support. The project’s cutting-edge combination of blockchain generation and dog culture positions it as a unique player in the crypto space. , with further advancements planned for late 2024 and early 2025.
As Toncoin reports bullish momentum with promising technical indicators, and Bitcoin Dogs (0DOG) prepares for its main trading debut, such developments highlight the dynamic nature of the cryptocurrency market.
Investors and enthusiasts are closely monitoring those developments, which may shape the long-term trajectory of those virtual assets.
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