2 June 2024
Popular play-to-earn token Notcoin (NOT), has continued to retain investors’ attention over the last week with a stunning positive market performance. According to data from CoinMarketCap, Notcoin gained 46.97% in the last day emerging as the top-performing asset in the market.
Notcoin Records Weekly Gains Of 238%
With the general crypto market showing a stable price movement, Notcoin’s explosive performance which indicates a high level of buying pressure has taken center stage among spectators, analysts, and prospective investors.
The crypto gaming project was initially introduced as a closed beta version in November 2023 by the Open Builders and supported by the Open Network (TON) Foundation. Following its official launch in January 2024, Notcoin quickly garnered much attention, registering millions of users due to its simplistic gameplay and strategic integration with the social media app Telegram.
In this play-to-earn game, players earn NOT coins by tapping continuously on a virtual gold coin and executing simple tasks. However, in recent times, Notcoin has introduced a new feature known as “earnings missions” which allows users to passively stack up NOT tokens.
The NOT token was officially airdropped on May 16 and has since showcased both sides of the crypto market’s volatility. Following this release, Notcoin initially dipped by over 60% falling from $0.012 to trade as low as $0.0050.
However, in the last week, the token has put up a remarkable performance gaining by 237.70% to attain an all-time high value of $0.01781. Notably, Notcoin’s market cap value has also grown from $526.77 million to about $1.81 billion pushing the token into the top sixty cryptocurrencies.
What’s Next For Notcoin?
At press time, NOT trades at $0.01735 following a 155.57% rise in its daily trading volume per data from CoinMarketCap.
According to a prediction by Coincodex, the sentiment around Notcoin is highly bullish with a Fear & Greed Index of 72. With the bulls retaining market control, Coincodex predicts the play-to-earn token to rise to $0.021 and $0.054 in five and thirty days respectively.
However, on the token’s 4-hour trading chart, the Relative Strength Index (RSI) is well in the overbought zone indicating a trend reversal may lie on the horizon and the current bull trend may soon be over.
Nevertheless, Notcoin’s future trajectory remains uncertain and will likely be influenced by future network developments/features and the project’s ability to retain its growing customer base. All investors are admonished to conduct proper research before investing in any asset as the crypto market remains subject to high levels of volatility.
Featured image from iStock, chart from Tradingview