**Toncoin (TON) Freefalls, Investors Panic!** 🚀

- Toncoin (TON) had skyrocketed in early 2024, reaching a high of $8.20 in mid-June.

- However, since the end of August, the price has plummeted to around $4.80, down 40% from its peak.

- This decline was triggered by the arrest of Pavel Durov, CEO of Telegram, who was accused of involvement in illegal activities.

- TON, as the native crypto of The Open Network developed by Telegram, was also affected.

- Data shows that almost 80% of TON holders suffered losses, only 9.3% made a profit.

- On-chain analysis indicates that the price of TON could fall further.

- Analyst Ali Martinez suggests that TON should immediately return to the support level of $4.70 to avoid a drop to $2.60.

What do you think? Can TON bounce back? Comment below!