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Nairametrics
Home Markets Cryptos

REDO memecoin surges by 140% after Ton developers adopt it to support arrested Pavel Durov  

Michael Ndu-Okeke by Michael Ndu-Okeke
August 27, 2024
in Cryptos, Markets
REDO memecoin surges by 140% after Ton developers adopt it to support arrested Pavel Durov  
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Resistance Dog, a memecoin inspired by the concept of digital resistance has surged by 140% since the Open Network (TON) developers made it the face of support for arrested Pavel Durov.

Resistance Dog (REDO) is inspired by the term “Digital Resistance” which symbolizes the fight against censorship and the promotion of free speech.

The concept that inspires the memecoin made it a suitable choice to become the face of online support for the freedom of Telegram founder Pavel Durov.

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Resistance Dog is the largest memecoin on the Ton blockchain and it surged by 140% after Ton developers chose it as the official avatar for Toncoin across various community channels.

The Ton community launched a social media campaign under the hashtag #FreeDurov while explaining their choice of resistance dog as the face of the movement.

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

Pavel Durov started this movement during his fight to maintain the privacy of Telegram users and protect freedom of speech.

”Join the #DigitalResistance, #FREEDUROV. Activate the Resistance Pack: Share this post using the #FREEDUROV Hashtag, Put emoji in username, Change avatar to Resistance Dog (our profile photo)”  

The online campaign launched by the Ton team urged the Ton community worldwide to change their profile pics to the Resistance Dog avatar to create awareness and pressure for the release of Telegram CEO Pavel Durov.

This move and announcement by the Ton blockchain resulted in REDO memecoin surging by 140% going from $0.35 to $0.85 before settling to $0.65 at the time of writing this report.

The Token market cap stands at $66 million according to Coingecko data.

Durov’s Arrest  

Pavel Durov the Russian founder of Telegram was arrested in France on Saturday while alighting from his private jet. The Telegram founder is facing accusations of aiding cybercrime by providing services and tools to bad actors according to a Tribunal Judiciaire de Paris statement.

What to Know  

  • Telegram which is globally perceived as a rival to WhatsApp has amassed over 800 million users worldwide and is currently making giant strides in the Web 3 world by launching its blockchain, the TON blockchain, and integrating Web 3 into its social media app thereby onboarding millions of users to Web 3.
  • Popular figures like Elon Musk have used their platform to lend their voices to the #FreeDurov campaign as the battle by Big tech companies to protect user data from government actors continues.
Tags: CryptocurrencymemecoinREDO
Michael Ndu-Okeke

Michael Ndu-Okeke

I am Michael Ndu-Okeke, a crypto reporter and analyst covering the intriguing world of Cryptocurrencies and its market. My work focuses on informative news, industry trends and research explaining the crypto industry to a wide range of readers.

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