A large unlock of TON tokens is expected in the coming days. This could put pressure on the market and lead to a price drop. Below is a detailed analysis.
TON Unlock Data
Unlocked Token Volume: The last unlock was only 1.5 million tokens, and I was able to close my short with a 40% profit. This time, over 16 million tokens will be unlocked, which could lead to an even steeper decline.
Unlock Date: March 2 to March 4, 2024.
Potential Consequences: A sharp increase in supply could trigger mass sell-offs and price drops.
Why This Is a Good Shorting Opportunity
Market Sentiment – Fear and panic among investors could accelerate the decline.
Increased Scam Activity – Recently, many scam projects have emerged on the TON network, undermining trust and increasing selling pressure.
Expected Price Target
The price of TON is likely to drop to $2, which aligns with a key support level considering the upcoming unlocks.
My Experience Shorting TON
During the last unlock, I opened a short position and achieved a 40% PnL, proving the effectiveness of this strategy. I am already in a short position now and expect further downside.
Conclusion
Considering the upcoming unlocks and market conditions, shorting TON appears to be a promising opportunity. However, it's crucial to factor in risks and manage positions carefully.
