Hours after news broke of the arrest of Telegram CEO Pavel Durov from an airport in France, a meme coin Resistance Dog ($REDO) gained a meteoric rise of 140% within a day, as a symbolic support for Durov.
Claimed as the “Digital Resistance” coin, $REDO was originally crafted as a symbol of defiance in support of Durov against the Russian government when it had put a ban on Telegram back in 2018. Today, the meme coin $REDO is gaining traction as a collective voice of the crypto community against the arrest of Durov at the behest of French authorities.
In its essence, the crypto world has always been pro- freedom of speech and user privacy, therefore the arrest of Durov in France came as a rude shock to the community as the European country has always prioritized free speech as an intrinsic part of French culture.
As the uproar over Durov’s arrest spreads across the globe, experts are keeping a keen eye on the Resistance Dog token and whether it can break the barrier of $1.5 in 2024. It is currently valued at $0.624 as per data by coingecko and had reached a high of $1.23 on June 18 this year.
In this article, we will analyse the $REDO coin, its genesis and idea and its potential with respect to the ongoing detention and investigation against Durov.
All About $REDO Coin
$REDO was created on the $TON Chain on January 9, 2024, by an anonymous developer who ensured the token’s safety by giving up control of the contract address and burning the initial liquidity. Although the developer didn’t continue working on the token, a passionate community stepped in to take charge. Inspired by the idea of digital resistance and true decentralisation, they embraced $REDO as a symbol of digital freedom.
The idea behind $REDO goes back to 2018 when Pavel Durov, the founder of Telegram and $TON Chain, introduced the “Resistance Dog” symbol to oppose government censorship.Which is a symbol of defiance against Russian censorship after the government began blocking Telegram for refusing to disclose encryption keys.
The hooded dog, introduced with the caption “DIGITAL RESISTANCE,” quickly became a powerful emblem for advocates of digital freedom and privacy. The community rallied around this vision, aiming to make $REDO the top meme token on $TON Chain while promoting free speech and standing against censorship. Their mission echoes Durov’s belief in a society where ideas are freely debated, not silenced. Which helped lead to the lifting of the Telegram ban in 2020.
Resistance Dog and Telegram Connection
Recently, the connection between REDO and Telegram was strengthened when Ton blockchain developers adopted the Resistance Dog as Toncoin’s official avatar in backing with Durov on his arrest in France, reflecting the ongoing commitment to resisting censorship and supporting digital rights.
The support for Durov was also echoed by high-profile figures like Elon Musk, who used the hashtag #FreePavel.Join the #DigitalResistance and #FREEDUROV. Users are rallying by showing their support for Pavel Durov and using these hashtags to stand against censorship and promote digital freedom. Meanwhile, Telegram’s app climbed to No.1 in the Social Networking category on the App Store in U.S.
Performance Analysis of $REDO
As a result, $TON logo was changed to Resistance Dog on the Binance, which caused the REDO token’s price to jump. REDO’s price jumped from $0.35 to over $0.85, reflecting a robust increase of more than 140% after Telegram CEO Pavel Durov was arrested. The major resistance level at $0.2 has now become strong support.
Despite some fears and doubts, the price didn’t drop further. Instead, it formed a double bottom pattern and is trending upwards with a high volume. With significant support and breakout at $0.4, it’s creating a major resistance at $1 and now its trading at $0.6 and it may go further in near future, after which it could go to ‘Price Discovery Mode’
It’s because of the adoption as the official avatar for Toncoin, a move by Ton blockchain developers to show support for Telegram CEO Pavel Durov and reinforce the digital freedom values REDO represents. This change sparked major attention on social media, where the crypto community passionately encouraged REDO as a symbol of resistance against censorship.
Conclusion
The 140% surge in REDO’s value reflects both the community’s strong backing for Durov and their commitment to fighting against online restrictions, demonstrating the token’s role in rallying support for digital freedom. By adopting REDO as Toncoin’s official avatar, the movement has not only supported Pavel Durov but also reinforced the fight against digital censorship.
As the #FREEDUROV rally continues, REDO’s rise reflects freedom of speech and digital rights, this rally showing the token’s role as a symbol of resistance and solidarity.
Also Read: ‘Resistance Dog’ Meme Gains TON Devs’ Support, Surges 140%
