**Crypto whales have made a significant move to prevent Toncoin (TON) from further price declines by accumulating over $72 million worth of the cryptocurrency.** This surge in buying activity follows multiple instances where TON seemed at risk of dropping to $4. Bulls have successfully defended this critical level, and with whales now actively participating, the altcoin's trajectory may shift upward.
Whales Accumulate 13.83 Million TON Tokens
Data from IntoTheBlock reveals a 44% increase in large holders' netflow over the past week. These "whales"—addresses holding roughly 1% of TON’s circulating supply—purchased 13.83 million tokens on October 16, signaling strong bullish sentiment. Such accumulation often precedes upward price momentum, as reduced selling pressure stabilizes the market.
👉 Discover how whale activity impacts crypto markets
Key Metrics Supporting Toncoin’s Stability
- Coins Holding Time: A rising metric indicates long-term holder confidence, reducing immediate sell-offs.
- Strong Support at $5.05: This level has historically prevented major corrections, acting as a foundation for potential rebounds.
Price Prediction: Can TON Surpass $6?
As of analysis, TON trades at $5.13**, with critical support at **$5.05. If this holds, the next targets are:
- $5.80 (minor resistance)
- $6.75 (breakout potential)
A failure to maintain support could lead to a drop below $5, though whale activity lowers this risk.
Toncoin Daily Price Chart. Source: TradingView
FAQ: Toncoin (TON) Whales and Market Dynamics
Q: Why are whales buying Toncoin now?
A: To prevent further price declines and capitalize on perceived undervaluation, leveraging their influence to stabilize the market.
Q: What does "large holders’ netflow" mean?
A: It tracks the difference between whale purchases and sales. A positive netflow (like TON’s 44% rise) signals accumulation.
Q: Could TON drop below $4?
A: Unlikely if whale support and the $5.05 support level hold. However, extreme bearish scenarios might test lower thresholds.
👉 Explore crypto market strategies for volatile conditions
Disclaimer: This analysis is informational only. Conduct independent research before investing. Market risks apply.
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