9 July 2024
Amid the market slowdown, Notcoin (NOT), the Telegram-based sensation, has shown impressive performance in the last three days. The token has skyrocketed 80% over the weekend, making investors and market watchers optimistic about its short-term performance.
NOT A Lot Going On At The Moment?
A month ago, Notcoin took the market by storm after soaring by over 500% in two weeks. The Telegram-based sensation began its journey as an in-game currency for a clicker game last year. Earlier this year, the project saw a wider integration with the messaging app and The Open Network (TON) blockchain.
Its massive success sparked a discussion among investors about crypto and Web3 gaming. Some users consider that Notcoin has revolutionized marketing and gaming in Web3 and paved the way for the next wave of Play-to-Earn projects in the TON blockchain.
Recently, the project unveiled the Telegram Gaming Accelerator in partnership with Helika Gaming. The collaboration aims to expand and open an accelerator for game developers “who will lead the wave of Telegram games.”
Similarly, Notcoin announced that Notcoin Explore, the platform for launching Web3 projects in Telegram, was open. With over 200 projects already launched via Notcoin and over 22.5 million participants, the platform will be a “win-win case” for users and developers, the announcement stated.
Users will discover Web3 projects and receive rewards with Notcoin Explore. Meanwhile, projects will have access to a “motivated audience” and be built with a “community-oriented model.”
Seemingly, the news was well received by its community. Many TON enthusiasts consider the developments a bullish signal as Notcoin’s team is “building for the benefit” of the network.
Crypto Market Outperformed By Notcoin
Notcoin has shown strong performance despite the recent slowdown in the market. Over the weekend, the token started to recover from last week’s retrace, going from trading at $0.0094 to hovering between the $0.015-$0.017 price range.
According to CoinGecko data, NOT has outperformed the current crypto market and similar GameFi tokens by 21.5%. The token’s 80% jump sparked a bullish sentiment about NOT’s short-term and mid-term performance.
Several market watchers highlighted Notcoin’s price action during the last three days. Altcoin Sherpa lamented missing the change to buy NOT after its retrace on Sunday night as it was “moving in lockstep and doing huge numbers the last few days.”
NOT bounced “nicely” above the 100-day moving average (MA), as reported by VikingXBT. To the crypto investor, the token has a clear support at $0.016 and a resistance at $0.02, making it “look like a winner.”
Crypto analyst World of Charts stated that NOT’s breakout from the descending channel was confirmed. The analyst expects NOT to move “towards 80%-90% bullish wave” and hit a new all-time high (ATH) above the $0.3 mark.
As of this writing, NOT continues to soar and trades at $0.01717. This performance represents a 15.5% rise in the last 24 hours and a 21.5% increase in the past week.