New York, Tuesday, August 27, 2024- The memecoin ‘Resistance Dog’ (REDO), the largest on the Ton blockchain, surged over 140% on Monday after developers designated it as the official avatar for Toncoin across community channels.
The move is part of a broader initiative by Ton developers to align with the “DigitalResistance” movement.
The new avatar, a white cartoon dog wearing a hood, replaced the previous Ton blockchain logo on platforms such as the official Telegram channel and X account.
The decision followed the arrest of Pavel Durov, Telegram’s founder and a key figure in the Ton blockchain, in France over the weekend.
“In support of DigitalResistance, we are updating Toncoin’s logo and profile pictures across TON Community channels to the global symbol of Digital Resistance — the Resistance Dog,” the Ton development team announced Monday.
The announcement triggered a significant market rally, with REDO’s price jumping from $0.35 to over $0.85 before stabilizing at $0.63, according to Dexscreener data. The token’s market capitalization now stands at $65 million.
Durov’s arrest is part of a broader cybercrime investigation in France, where he faces allegations related to providing services and tools, as reported by the Tribunal Judiciaire de Paris.
