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Toncoin’s Whales Swim Deep, But Holders Are Drowning – What’s Next for TON?

BBG News
  • Whale accumulation rises, yet 71.28% of holders continue to drown in losses.
  • Derivatives surge as liquidation zones form near $3.50 resistance. Will the sharks come for a bite?

Since the year 2021, the top 100 whale addresses of Toncoin [TON] have been quite the diligent collectors, swelling their wallets at a pace most could only envy. They clearly have faith that this digital treasure will prove its worth long term. 💰

Such a pattern of sustained accumulation could be seen as a sign of confidence—whales are signaling they believe in a future of fat profits. After all, who doesn’t love a good upside? 🎉 These rising balances may well be the canary in the coal mine, hinting at an imminent rally. Or, perhaps just a little whale-watch. 🐋

Thus, it’s crucial to keep an eye on these whale wallets, as their movements often mirror the ebb and flow of liquidity, volatility, and sentiment on the TON network. 🧐

What Will Determine TON’s Next Major Move?

According to IntoTheBlock data, 71.28% of TON holders are “in the money”—a sign that the market is not entirely lost. 🌟 Meanwhile, a mere 11.52% are underwater, meaning there is very little risk of a mass panic sale. For now. 😅

Interestingly, many holders bought TON under the $3.05 mark, which now acts as a resilient support zone. 🏰 But, beware! As the price nudges towards $5-$6, the real danger lies in holders who may jump ship to recover their losses. They’re just waiting to see a price high enough to shout “I told you so!” 👀

TON’s transaction activity shows that both retail and institutional investors are becoming more engaged. Notably, transactions between $1M and $10M have surged by 80%, while transactions over $10M are up by 50%. 📈 And the mid-tier range? Don’t worry, they’re also joining the party. 🤷‍♀️

TON’s Next Breakout Depends On…

In the land of derivatives, TON has seen a 14.95% increase in volume, totaling $174.86M, and a 4.28% rise in Open Interest to $230.72M. The speculators are certainly keeping things spicy! 🌶️

These jumps signal that more and more are betting on TON’s future. But, as any seasoned investor knows, leverage exposure can create some wild price swings—so hold on tight! 🎢

Looking at the Binance liquidation heatmap, significant short liquidation clusters are forming around $3.31 and $3.50. If TON continues its upward trajectory, these zones could trigger a short squeeze, providing some extra buying pressure. Pressure, of course, makes diamonds. 💎

Meanwhile, long liquidations are still minimal below $3.10, offering a relatively safe haven for bulls. 🐂

So, if TON manages to surge past $3.31 and set its sights on $3.50, the resulting cascading liquidations could ignite its rise even further. Could we be looking at a TON explosion? 💥

Is TON Preparing for a Breakout from Its Symmetrical Triangle Pattern?

At present, TON’s price action is stuck in a symmetrical triangle pattern, wedged between the $3.505 resistance and $3.097 support. A classic setup for a dramatic breakout. 🤞

Historically, such consolidation patterns are followed by sharp price movements, particularly when whale activity is increasing, and derivatives volumes are on the rise. You’ve seen the movies, this is the part where the drama happens. 🍿

Should TON break above $3.505 with substantial volume, the $4.72 region could be its next destination. But if it falls below $3.097, prepare for a bumpy ride towards $2.28. 🎢

In short, TON is at a crossroads, and its next move could set the tone for its near-term market future. Will it rise, or will it fall? Only time will tell, but we’re on the edge of our seats! 😬

Ultimately, even though most holders are still nursing losses, the whale accumulation and increased speculative interest favor a breakout over a selloff. So, keep your fingers crossed for the bulls! 🤞

If bulls maintain momentum and convert $3.50 into support, we could see a rapid rally. But failure to break that resistance might signal a pullback—just a friendly reminder that markets are fickle, and sometimes hope is all we have. 🐾

All things considered, the signs suggest that whales are gearing up for an upside, not a distribution. So, let’s buckle up for a possible bullish continuation. 😏

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2025-06-06 06:19

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