Toncoin News: Will TON Price Crash to 0?
After a recent impressive surge, Toncoin is now feeling the impact of the current market crash. Analysts are worried about its value dropping significantly. Could it really crash to zero? Let's take a look at this Toncoin price article in more detail.
How has the Toncoin (TON) Price Moved Recently?
Toncoin is currently priced at $6.53, with a 24-hour trading volume of $1.08 billion and a market cap of $22.69 billion, commanding a market dominance of 1.15%. In the past 24 hours, TON's price has dropped by 9.48%.
Toncoin hit its all-time high of $8.27 on June 15, 2024, and its all-time low of $0.523925 on September 21, 2021. The lowest price since its peak was $6.40, and the highest price since that low was $6.72. Despite recent fluctuations, the sentiment around Toncoin remains bullish, with the Fear & Greed Index at 29 (indicating fear).
Currently, there are 3.47 billion TON in circulation out of a maximum supply of 5 billion TON. The yearly supply inflation rate is 1.25%, with 42.82 million TON created over the past year.
Will Toncoin Price Crash to 0?
Considering Toncoin's impressive market performance over the past year, it's unlikely that its price will crash to zero. The price has surged by 367% in the last 12 months, outperforming 90% of the top 100 crypto assets, including Bitcoin and Ethereum. Toncoin is currently trading above its 200-day simple moving average, a positive indicator of its long-term trend. Furthermore, it has demonstrated strong market activity, with 16 green days in the past 30 days (53%), and maintains high liquidity given its substantial market cap of $22.69 billion. Despite the recent 9.48% price drop, these factors collectively suggest a robust and resilient asset rather than one heading towards a crash. The overall bullish sentiment, combined with its significant market presence, points towards a stable outlook for Toncoin, making a crash to zero highly improbable.
