Crypto
Toncoin Price Prediction: Whales Keep Buying, Retailers Stay Cautious
Toncoin price dropped over 10% after India's temporary Telegram restriction, but whale accumulation is rising.
1h ago 4,280
BLOCKINSIDERLoadingToncoin price dropped over 10% after India's temporary Telegram restriction, but whale accumulation is rising.
Toncoin (TON), a Layer-1 blockchain originally developed by Telegram, now rebranded as Gram, saw a sharp drop on June 16 after India temporarily restricted access to Telegram until June 22.
Despite the news, whale activity has increased. TON is currently trading near $1.65, up 1.3% in the last 24 hours, showing that larger investors are still buying while retail interest remains muted.
Toncoin price fall after India temporarily restricted Telegram for one week over concerns related to a NEET paper leak investigation.
Following the news, TON fell from around $1.80 to a low of nearly $1.62, extending its decline from the May high near $2.90. However, the token has since recovered slightly and is currently trading around $1.65, up 1.3% in the last 24 hours.
Telegram founder Pavel Durov criticized the restriction, saying it affected more than 150 million users in India.
He also said that Telegram was not responsible for the leaked exam papers and that blocking the platform would not solve the real problem.
While the price drop kept TON under pressure, whale on the other hand continu to accumulate TON coin. According to data shared by Alphractal founder Joao Wedson, Toncoin is showing a clear divergence between large investors and retail traders.
Whale vs Retail Delta indicator has turned positive in recent sessions, showing that whales are increasing their exposure to TON across major exchanges, including Binance, OKX, and Gate while retail participation remains weak.
The latest chart shows whale activity moving into positive territory near 0.23 while Toncoin price remains around $1.65.
Historically, similar divergences often appear when larger investors accumulate before broader market participation returns.
Another bullish signal comes from exchange flows. Crypto Bull Jeztoshi reported that more than $200 million worth of TON moved off exchanges during the last 48 hours.
When large amounts of crypto leave exchanges, it usually means that investors are transferring assets into private wallets for longer-term holding rather than preparing to sell.
The move comes while Toncoin's market capitalization remains near $4.5 billion, significantly below levels seen during previous rallies.
Crypto analyst Globe Crypto highlighted a bullish flag pattern on the 12-hour Toncoin chart. The pattern formed after TON fell from its May high near $2.90 and entered a descending channel.
According to the chart, Toncoin is now attempting to break above the upper trendline of that structure.
A successful breakout could open the door for a move toward $2.20 initially, followed by the $2.50-$2.70 region.
For now, the most important level remains the $1.60-$1.65 support zone. As long as the Toncoin price stays above that range and whales continue accumulating, traders will likely keep watching for a larger recovery move.
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