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Toncoin slid about 2 % to roughly $2.07 in the last day, extending a week‑long decline with lower highs. Sellers pushed the token down after a brief rally to $2.16, where trading volume surged to 3.61 million tokens.
The rapid reversal highlighted the importance of that price as a resistance level. The pullback broke through the $2.10 support and reached a low of close to $2.067. A recovery will likely require the price to regain $2.10 and clear $2.16. Until then, traders see $2.05 as the next line of defence.
Recent trading shows the token constrained within a narrow $0.15 band. The failed breakout to $2.154 drew an 89% increase in volume over the session average, with 3.03 million tokens changing hands. This surge indicates that many participants used the rally as an opportunity to exit positions.
After peaking, the price retreated to $2.127 and remained in a tight range. Bulls are watching for a sustained move above $2.144 to retest $2.154, while bears focus on a break below $2.133 to challenge support at $2.10.
On‑chain data suggests that Toncoin has been accumulated between $2.01 and $2.05, creating a substantial cost‑basis support zone. This concentration may help stabilise the price if holders remain patient. However, a large share of the supply is held by big investors, so prices could still swing sharply when those holders transact. Whale dominance could amplify swings.
Additionally, Toncoin continues to benefit from its link with Telegram. However, the near‑term outlook remains tied to technical levels. Traders should monitor $2.05 for support and $2.16 for resistance while staying alert to regulatory shifts. Cautious positioning may help navigate uncertainty.
Toncoin’s supply remains heavily skewed toward large holders; about 68% of the token’s supply is concentrated in whale wallets, while only about one‑fifth is held long‑term. Such whale dominance can amplify price swings during sell‑offs or rallies.
Toncoin’s pullback comes as publicly traded digital‑asset treasuries branch into less liquid tokens. Moody’s analyst Cristiano Ventricelli warned that venturing into exotic tokens increases risk and said market declines put pressure on these firms’ equity.
JonesTrading strategist Michael O’Rourke noted that many digital‑asset treasuries already trade below the value of the assets they hold. Marius Barnett, chair of SUI Group, cautioned that companies that simply stockpile crypto without offering innovative products could be “absolutely decimated” over time.
