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Toncoin (TON) has made headlines due to significant price increases in recent days. It experienced a notable rise in social dominance and showed a positive trend in open interest. A new daily analysis of Toncoin revealed that the first significant increase occurred on June 2.
Will TON Reach a New ATH?
The chart showed an 8.60% increase, raising its price from $6.3 to approximately $6.8. On June 4, Toncoin experienced another significant increase of 7.48%, pushing its price above $7.3. This new price range became an all-time high, surpassing the previous ATH of approximately $7.2 reached in April.
Popular altcoin Toncoin briefly dipped from this new price range with a decrease of over 1.6% on June 5. However, it has since regained its position. At the time of writing, Toncoin is trading around $7.3 with an increase of over 1.7%. This latest increase could mean that the price can maintain its all-time high (ATH).
Further increases could help establish a new ATH. Additionally, an analysis of Toncoin’s relative strength index (RSI) may indicate a strong upward trend at the current position. RSI is above 67, suggesting it is near the overbought zone.
TON Price Analysis
21milyon.com data analysis showed that Toncoin increased by over 12% in the last seven days. Among the top 20 assets, only Binance (BNB) recorded a higher increase with over 19%. At the time of writing, Toncoin’s market value is approximately $17.6 billion, making it the ninth largest asset by market value.
Additionally, data from Santiment showed that Toncoin (TON) experienced significant social dominance. Its social dominance was over 1.3%, indicating that it could be part of about 1% of discussions in the cryptocurrency space. At the beginning of the month, its social dominance was over 2%, but it has decreased in the last few days.
