TON Tanks 7% After Musk Denies Telegram-xAI Rumors—Crypto Traders Panic-Sell Like It’s 2021 Again

Elon Musk shoots down speculation about a Telegram-xAI partnership—and TON holders pay the price. The token nosedives as traders dump positions, proving once again that crypto markets move faster than a Tesla Plaid in ’Ludicrous Mode.’

When billionaires sneeze, altcoins catch pneumonia. This week’s lesson? Never bet against the meme-lord of Dogecoin when he’s in contrarian mode. Meanwhile, Wall Street ’experts’ will still call this ’healthy consolidation.’

Technical Analysis Breakdown

• TON saw a sharp sell-off, with volume surging to over 10.6 million in a single hour, nearly tripling its average volume.
• Buyers stepped in at the $3.00 mark, helping the token climb back to $3.086, forming a V-shaped recovery.
• A brief resistance formed at $3.22, while bullish momentum pushed the token above $3.08 during an intense surge
• TON perpetual futures open interest rose 33% to $190 million, reaching its highest point since February, indicating traders are bracing for further volatility.