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Telegram’s crypto scene has topped the charts in 2024, attracting millions of followers.

Meanwhile, most of these projects appear to lose their initial appeal.

Toncoin could dip further as bearish technical indicators and negative funding increase selling momentum.

Hamster Kombat’s woes continue as the hyped play-to-earn project maintains downsides since its official launch.

While TON and HMSTR fail to keep pace, Dogizen (DOGIZEN) is set to dominate meme coin trends with its strategic debut – introducing the first ICO within Telegram.

TON displays weakness after dropping 10% of its value in the previous week.

The recent downside moved its prices near the horizontal channel’s lower line, printing a key support barrier since March.

Failure to keep this level could trigger a double-digit dip from Toncoin’s current price.

Meanwhile, the alt exhibits negative funding rates, suggesting traders’ faded trust in solid bounce-backs in the near term.

The metric stood at -0.0054 at press time, according to Coinalyze.

Funding rates are fees paid to maintain the token’s contract price close to the spot price.

Precisely, it accounts for the charges involved in holding short or long positions in a specific timeframe.

A negative figure indicates more participants shorting, which welcomes selling pressure and declined prices.

TON’s negative funding amid downside price actions could trigger more shorts, pushing the altcoin down.

Also, the Directional Movement Index (DMX) confirms bear favoritism.

TON trades at $5.43 as of this publication, hovering near the lower boundary of a horizontal setup, which has prevented further dips since March.

The bearish technical and reduced funding could see it breaching this footing.

That would see TON testing $4.43 – a 22.57% plunge from current prices.

However, robust bullish activity as the support will invalidate the downside and catalyze a potential 42% rally to the resistance zone at $7.96.

Hamster Kombat could not retain the hype it had after its official debut.

The alt has dropped over 30% of its value since 28 September, and its market structure suggests more pain.

The On-Balance Volume could not break a local peak – which could have signaled a possible uptrend.

Moreover, the Relative Strength Index remained around the neutral 50 within the past 48 hours, suggesting indecision in the market.

HMSTR trades at $0.004893 after a 6% uptick in the past day.

Nevertheless, it exhibits a weak momentum after last week’s 30% fall.

The token needs massive buyer commitment amid Bitcoin’s solid moves well beyond $60 for stable recoveries.

While Toncoin and Hamster Kombat reflect weakness, the new Dogizen looks to steal the show.

The tap-to-earn project plans to redefine the Telegram gaming sector with massive crypto rewards and enhanced experience.

Introducing the first initial coin offering (ICO) in Telegram, Dogizen plans to onboard the messaging platform’s over 950 million users to crypto.

The project attracted massive interest from profit-oriented participants, raising over 100K within hours of its presale going live.

Dogizen’s native token DOGIZEN boasts impressive potential, ready to outshine the likes of Catizen and established memes such as Dogecoin.

Features such as passive income for holders and investors getting a share of the platform’s revenue sets DOGIZEN ahead of its competitors.

DOGIZEN could be a perfect investment for enthusiasts looking for low-cap cryptos with 100x potential.

You can visit the Dogizen website for more details.

The post Dogizen price forecast as investors lose confidence in Toncoin and Hamster Kombat appeared first on Invezz

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