Over the TON chain, the top five tokens, TON, USDT, CATI, NOT, and DOGS lead the network growth with staggering numbers of addresses. TON alone holds 19.39 million addresses, followed by 1.54 million for USDT, 1.09 million for CATI, 2.86 million for Notcoin, and finally, DOGS with 5 million addresses.
Compared to Ethereum’s top memecoin, PEPE, which only has 280K addresses, the scale of TON’s user adoption becomes clear. With the growing user base, let’s take a closer look at the top altcoins over TON Chain for a breakout run this week.
Toncoin (TON)
With a bullish trend struggling to surpass the 200-day EMA, the TON price takes support at the 23.60% Fibonacci level. This leads to a consolidation range between $5.66 and $5.47.
https://www.tradingview.com/x/RXaYCFWA
Currently, the TON coin forms the fifth doji candle near the 200-day EMA, with the 50-day EMA maintaining a sideways trend. Despite the death cross looming over the TON price chart, the bull cycle dominates the $5.50 psychological mark. Hence, it will likely challenge the overhead trendline.
As the broader market recovers, a potential breakout of the overhead trendline will target the 78.60% Fibonacci level at $7.42 or $8.18 by the end of this week. On the flip side, the $5.50 support and the $5 psychological mark are likely to hold the TON coin prices.
Curious to learn the TON price targets by the end of 2024? Learn more in Coinpedia’s Toncoin price prediction for 2024 to 2030.
Catizen (CATI)
Following the massive surge of almost 140%, the Catizen token is in an intense pullback. Dropping from the $1 psychological mark, the CATI token is now trading at $0.75.
https://www.tradingview.com/x/SciREbXw
With a decline of 25% from the $1 psychological mark, the meme coin is approaching a crucial support level of $0.6960. The support level has resulted in a consolidation range for a bullish bounceback once before and is likely to propel the CATI token once again.
With a bullish contract, the CATI token will likely challenge its 50% Fibonacci level at $0.8738. However, with the growing user base and the broader market recovery, the $1 psychological mark is still a potential target level for next week.
Notcoin (NOT)
The Notcoin is undergoing a correction phase, after a period of growth. Dropping under the $0.010 mark, the Notcoin price action forms a falling wedge pattern.
https://www.tradingview.com/x/bcF5MyFj
Currently, it is trading at $0.0074 with an intraday gain of 2.17%. Furthermore, it shows bullish divergence as it trades near the support trendline. With the increasing chances of an overhead breakout, the NOT price will likely challenge the 50-day EMA near the $0.10 psychological mark.
Amid the broader market recovery and the growing user base of Notcoin, the $0.013 and $0.017 are potential upside targets.
DOGS (DOGS)
Similar to NotCoin, the DOGS token shows a falling wedge pattern in the 4-hour chart. As a recently launched token on Binance last month, the declining trend starts after reaching a peak of $0.0015.
https://www.tradingview.com/x/V2QBeD3r
With overhead rejections, the falling wedge pattern now tests the $0.007956. With bullish divergence in the RSI line, the DOGS token shows a high possibility of a bullish breakout.
Furthermore, the recent lower price reaction in the 4-hour candle near the support confluence bolsters the bullish chances. Meanwhile, the 50-EMA in the 4-hour chart merges with the overhead trend line and provides a high supply zone to keep the bullish growth under check.
Nevertheless, using the trend-based Fibonacci level, the upside targets for Dogs are present at the $0.0010 psychological mark and $0.001297.
