Reported by The Block: The memecoin ‘Resistance Dog’ experienced a market rally, increasing by over 140% on Monday.
This surge was triggered after the developers designated it as the official avatar for Toncoin across various community channels.
The memecoin ‘Resistance Dog’ (REDO), the largest memecoin on the Ton blockchain, recorded a market rally, rising over 140% — triggered after the developers chose it as the official avatar for Toncoin across various community channels.
This came as a broader initiative by Ton developers to adopt the memecoin’s avatar to align with what it calls the “DigitalResistance” movement. This avatar comprises a white cartoon dog with a hood, replacing the previous Ton blockchain logo.
The core developers noted they adopted the ‘Resistance Dog’ avatar on platforms like the official Telegram channel and X account. The move came after Pavel Durov, the founder of Telegram and a key figure in the Ton blockchain, was arrested 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 team announced Monday.
Following the announcement, the token surged more than 140% on Monday, going from $0.35 to over $0.85 before settling back to $0.63 at the time of writing, per Dexscreener data. The token’s market cap currently stands at $65 million.
Durov was put into police custody in France last Saturday during a cybercrime probe involving accusations of providing services and tools, per a Tribunal Judiciaire de Paris statement. Prior reports have been made about Telegram’s inadequate collaboration with law enforcement on content moderation issues.