#PLANE #TONCOİN #TON #resistance! #RES
Investor Makes Profits with Meme Coins
Paper Plane
$PLANE
Toncoin
$TON
Resistance
$RES
Resistance Dog
$REDO
Ton Inu
$TINU
3 mins read
Investor Makes Profits with Meme Coins
Table of Contents
Investor’s Meme Coin Moves
Total Profit of the Crypto Investor
You can also read this news on COINTURK NEWS: Investor Makes Profits with Meme Coins
A new trend emerged in the cryptocurrency world mid-year, resulting in thousands of new tokens. Some of these projects yielded significant profits, while others turned out to be rug pulls. During this period, a cryptocurrency investor was seen purchasing not just one but multiple meme coins, leading to substantial profits due to timely transactions.

Investor’s Meme Coin Moves
According to information shared by Lookonchain on August 26, the mentioned cryptocurrency investor preferred to trade mainly in Toncoin (TON) and cryptocurrencies related to the Telegram ecosystem. Despite some losses, the investor achieved a high overall profit rate.


Among the transactions made by the investor during this period was the purchase of Resistance Dog (REDO) coin, which gained value after the TON blockchain logo was changed to REDO. The $50,500 investment increased 12 times in value, reaching a profit of 107,275 Solana (SOL) or $606,000, with some sales also recorded.

The same investor achieved a 35-fold profit from the TON network’s multi-service token Ton Inu (TINU), earning 5,207 TON or $29,400. Additionally, the investor gained 3,118 TON or $17,600, representing a 62-fold return, from Paper Plane (PLANE), which is claimed to stand against online censorship.
Total Profit of the Crypto Investor
Combining all these transactions, the investor invested 13,207 TON to purchase these 11 meme coins, with a total value of $74,487 at current prices. The investor later sold them for 128,593 TON or $725,264, achieving a profit of 115,387 TON or $650,782, which is an 874% gain.

While all this was happening, TON, which recently rose to $7, is currently trading at $5.63 after a 5% drop. According to information shared by Russian sources, Telegram founder Pavel Durov’s detention period will end on August 28.
Despite the significant profits, the investor also experienced losses, highlighting the difficulty of always making the right moves. Investors should remember that the high volatility of meme coins can lead to substantial losses.

Russian-French billionaire and founder of Telegram, was detained at Bourget Airport near Paris on Saturday evening. The arrest, which took place as Durov was traveling on his private jet, has drawn significant attention due to the ongoing investigation into Telegram's moderation policies.

Arrest at Bourget Airport, France
On a quiet Saturday evening, Pavel Durov found himself at the center of a legal storm as French authorities arrested him at Bourget Airport. The arrest was reportedly carried out under an existing warrant issued in France, linked to a preliminary investigation. This investigation is believed to focus on Telegram's alleged failure to provide adequate moderation on its platform, a situation that authorities fear may have facilitated criminal activities.

Investigation into Telegram's Moderation Practices
French media outlets, including TF1 and BFM TV, have reported that the investigation centers on Telegram's moderation—or lack thereof. The encrypted messaging app, which boasts nearly one billion users, has been criticized for allowing content to spread unchecked, potentially aiding illegal activities. The lack of sufficient oversight on the platform has raised concerns among law enforcement, leading to Durov's current legal troubles.

Screenshot 2024-08-25 133829.png
Pavel Valeryevich Durov, Telegram Founder

Possible Indictment Looming
As the investigation progresses, Durov faces the possibility of indictment. The French legal system may take swift action, with developments expected as early as Sunday. The arrest has not only put Durov in a precarious legal position but has also cast a spotlight on the operational practices of Telegram, particularly in regions like Russia, Ukraine, and other former Soviet states where the app holds significant influence.

Impact on Toncoin and Market Reactions
The ripple effects of Durov's arrest were immediately felt in the cryptocurrency market. Toncoin, a cryptocurrency associated with Telegram, saw its value plummet by 20%, reaching a low of $5.6. Despite the broader crypto market showing gains, uncertainty surrounding Durov's situation led to a massive sell-off. Additionally, the in-app wallet on Telegram experienced significant liquidations in USDT, TON, and NOT tokens. The NOT token also suffered a steep decline, dropping by 21%.

TONUSD_2024-08-25_13-34-20.png
TON/USD 1-day chart - TradingView
No Comment from Telegram and Authorities
As of now, Telegram has not issued any official statement regarding Durov's arrest or the ongoing investigation. Similarly, both the French Interior Ministry and police have refrained from commenting on the situation, leaving the public and investors in a state of suspense.