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The decline is linked to user dissatisfaction with the low value of airdropped tokens from events like DOGS and Hamster Kombat, which led to a decrease in network activity and short-term holders. This sentiment, coupled with selling pressure, could push Toncoinβs price down to $4.46 unless future Telegram airdrops regain traction and boost demand.
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This news shook the crypto market, causing Bitcoin, Ether, and other major cryptocurrencies to experience temporary declines.
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These gains have primarily spotlighted small-cap tokens and meme coins in the market this week.
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