Toncoin kicked off October on a high note, inching up nearly 1% in price. This positive momentum follows a period of increased activity and accumulation by whales, large investors who hold significant amounts of cryptocurrency. However, despite this buying spree, Toncoin’s price volatility has surprisingly dipped.

Strong Start for Toncoin

Toncoin closed September at roughly $7.6, according to data by COINOTAG. This slight uptick carried over into October, with the token currently trading around $7.7. This steady climb brings Toncoin closer to its all-time high of $8.1, which can be interpreted as a sign of a potential bull run. The short moving average, acting as a support level, has helped Toncoin maintain its upward trajectory.

Technical Indicators Flash Mixed Signals

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Technical analysis using the Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. While the MACD bars sit below zero, typically suggesting a bearish trend, the MACD lines themselves are above zero, hinting at bullish sentiment. This discrepancy could indicate upcoming market volatility or a turning point for Toncoin.

Reduced Volatility Bodes Well for Long-Term Investors

A remarkable aspect of Toncoin’s recent performance is the significant decline in volatility. Even as it approaches its all-time high, the token’s volatility has been on a downward trend. Data from Santiment reveals the last major volatility spike occurred in March, reaching around 0.25%. Since then, volatility has plunged to roughly 0.046%.

This newfound stability suggests a period of price consolidation, potentially attracting long-term investors and mitigating the risk of large sell-offs. The stability may also reflect a balanced market with equal buying and selling pressures.

Whales Accumulate Toncoin in Anticipation of Price Surge

Santiment’s supply distribution analysis uncovers growing interest and accumulation by whales, specifically those holding between 10,000 and 100,000 TON tokens. Data shows that the number of whale wallets surpassed 150 towards the end of September, reaching a new high.

Collectively, these whales have amassed over 45 million TON tokens, valued at approximately $346 million. This strategic buying behavior suggests a bullish outlook from these large-scale investors, who likely anticipate further price increases as Toncoin nears its all-time high.

Toncoin Poised for Continued Growth

Toncoin’s recent trends paint a promising picture, characterized by increased whale accumulation, reduced volatility, and positive price movements. As the token edges closer to its record high, it appears to be on a stable upward trajectory, indicating the potential for continued growth. Investors are advised to closely monitor these developments, considering the bullish sentiment from whales and the overall market stability.