The memecoin ‘Resistance Dog’ (REDO), one of the largest memecoins on the Ton blockchain, experienced a remarkable rally, soaring over 140% after developers selected it as the official avatar for Toncoin across community platforms.
This change is part of a broader initiative by Ton developers, aligning the memecoin’s avatar with the “DigitalResistance” movement. The new avatar features a white cartoon dog wearing a hood, replacing the previous Ton blockchain logo.
The Ton core developers announced the adoption of the ‘Resistance Dog’ avatar on official channels, including Telegram and X (formerly Twitter). This decision followed the arrest of Pavel Durov, Telegram’s founder and a significant 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 development team stated on Monday.
After this announcement, REDO’s value skyrocketed, jumping from $0.35 to over $0.85 before settling at $0.63, according to Dexscreener data. The token’s market cap now stands at $65 million.
Durov’s arrest in France is connected to a cybercrime investigation, with accusations related to providing services and tools, as per a statement from the Tribunal Judiciaire de Paris. Previous reports have criticized Telegram for insufficient cooperation with law enforcement on content moderation.
Also Read: Toncoin Price Drops 7% in 24 hours amid CEO Durov Faces’ Arrest in France
