Notcoin NOT Seeks to Achieve New AllTime High as Network Development and Exponential User Growth Fuel Its Price Surge

In the midst of the ongoing recovery in the crypto market, spearheaded by Bitcoin (BTC), the meme coin known as Notcoin (NOT), which is built on the Toncoin platform, has shown signs of bullish sentiment. The Telegram-based GamiFi project has experienced a remarkable rise of approximately 69% over the past three days, reaching a trading price of around $0.0171 on Monday.

The mid-cap altcoin, which has a fully diluted valuation of approximately $1.7 billion, has witnessed a surge of over 10% in its daily average traded volume in the past 24 hours, amounting to about $1.2 billion at the time of this report.

The growth in the price of Notcoin can be attributed to the global recognition of Telegram as a social networking platform. Major crypto exchanges, including Binance and Bybit, have already listed the NOT token.

According to on-chain data, the Notcoin project boasts a significant number of holders, with approximately 2.44 million, and has a total liquidity of nearly $5 million in TON and $1.5 million in Tether USDT.

The Notcoin project has gained popularity as a community-driven token that aims to onboard users into the Web3 ecosystem through its tap-to-earn game. In order to further promote web3 adoption, the project launched Notcoin Explore last week, which has already attracted more than 200 web3 projects seeking to advertise to its user base of 22.5 million.

In terms of price targets, although the meme coin industry has faced bearish pressure in recent weeks, the price of NOT has benefited from the growth of the Toncoin ecosystem. From a technical perspective, the NOT price has closed above the 50-day moving average (MA) after the Relative Strength Index (RSI) rebounded from oversold levels in the past few days.

In the short term, the NOT price is aiming for $0.022, which aligns with the daily 0.618 Fibonacci Retracement.

Tags:
Altcoins
Price Analysis