REDO Meme Coin Surges 140% Following TON Developers’ Decision

The TON blockchain team has changed the logo in its community channels to the avatar of the meme token Resistance Dog (REDO). The coin’s value soared by 140%.

Today, We stand with Pavel Durov — Creator of Telegram.

In support of the #DigitalResistance, we are updating Toncoin’s logo and profile pictures across TON Community channels to the global symbol of Digital Resistance — the Resistance Dog. Pavel Durov started this movement… pic.twitter.com/Dle4dE5lGP

— TON Society ? (@ton_society) August 25, 2024

The developers took this step as part of the Digital Resistance initiative and in support of Telegram founder Pavel Durov, who was detained in France on Saturday.

Following the announcement, REDO’s price jumped from $0.35 to over $0.85 — an increase of more than 140%. At the time of writing, the asset’s price had corrected to $0.65.

The token’s market capitalization stands at approximately $65.2 million. The coin is trading nearly 53% below its all-time high of $1.38, recorded in July.

French authorities explained that Durov was detained as part of an investigation opened on July 8 concerning an “unnamed executive” of Telegram. The list of alleged crimes includes 12 counts.

The crypto community has actively rallied in defense of the messenger’s founder.