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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Show off your trading on Gate Squ
TON developers are supporting this memecoin: Price is skyrocketing
Resistance Dog (REDO), the largest memecoin on the TON blockchain, saw an increase of over 140% with the support of developers.
The arrest of Telegram founder and CEO Pavel Durov has caused a stir. While initial sharp declines were observed in meme coins in the TON ecosystem, the arrest process reversed this situation. The support of TON developers for the popular meme coin Resistance Dog (REDO) triggered a sharp rise in the parity.
The rapid rise on REDO has naturally increased interest in the TON network. Crypto investors are already beginning to research which memecoin the new REDO will be.
ton telegram memecoin## TON ecosystem moved for Pavel Durov
Core developers stated on official platforms such as the Telegram channel and X account that they have embraced Resistance Dog. This move came after the weekend arrest of Pavel Durov, the founder of Telegram and a significant figure in the Ton blockchain, in France.
The team announced on Monday, "In order to support DigitalResistance, we are updating the logos and profile pictures of Toncoin's TON community channels to the Resistance Dog symbol." Following the announcement, the token surged more than 140% on Monday, rising from $0.35 to over $0.85. According to Dexscreener data, the current market value of the token is 65 million dollars.
According to the statement of the Paris Judicial Court, Durov was placed under police surveillance in France last Saturday during a cybercrime investigation involving allegations of providing services and tools. Previous reports have been made about Telegram's inadequate cooperation with law enforcement regarding content moderation issues.
This article does not contain investment advice or recommendation. Every investment and trading transaction involves risk and readers should conduct their own research when making decisions.