Toncoin Hits All-Time High: How Much Higher Can TON Go?

Toncoin (TON) has had an incredible year so far, entering the top 10 projects by market cap a few months ago. The asset hit a new all-time high of $7.76 earlier today, rallying 11.8% in the daily charts, 15.6% in the weekly charts, 19.8% in the 14-day charts, and 27.6% over the previous month.

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The latest rally may be due to the larger crypto market sentiment changing for the better. The change in market sentiment could be due to renewed expectations of an interest rate cut by November 2024. Moreover, inflation figures in the US continue to go down, with a weaker jobs market. Bitcoin (BTC) has reclaimed the $71,000 mark, rallying over 3% in the last 24 hours. Moreover, the global crypto market cap has risen by 2.7% and currently stands at $2.77 trillion.

How high can Toncoin (TON) rally?

According to CoinCodex, TON will continue to rally throughout this month. The platform anticipates TON to hit $20.61 on June 30, 2024. Reaching $20.61 from current levels would translate to a growth of about 173.34%. Moreover, CoinCodex anticipates TON to breach the $24 mark in early July.

Also Read: Toncoin: 200% Yearly Gains has TON Targeting $9 in 2024

Changelly also anticipates Toncoin (TON) to rally over the next few days. The platform predicts TON to hit $10.16 on June 11, 2024, a rise of about 34.75%.

With inflation in the US cooling, the cryptocurrency market may enter another bull run. Moreover, inflows into Bitcoin (BTC) ETFs (Exchange Traded Funds) continue to increase. Both developments could usher in another 2021-like market-wide rally. In such a scenario, we may witness several crypto assets hit new all-time highs.

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