Analysts believe that its successful integration with Telegram’s extensive user base may have played a prominent role in its ongoing reality.
By Mayowa Adebajo
Edited by Julia Sakovich
Updated
3 mins read
Notcoin (NOT) recorded massive gains over the past week in a rare move within the broader crypto market. While the general market held its ground with little to no activity over the weekend, NOT continued its unique rally. This rally saw it post an additional 40% gain on Sunday to hit an all-time high (ATH) of $0.027.
Although it has since corrected a little, NOT was seen still trading at $0.02064 as of publication, up 277.52% on the weekly chart.
Interestingly, NOT’s recent rally also brought a massive surge to its daily transaction volume. So much so that its daily transaction volumes soared over 185% to move past $4.6 billion. This makes the coin the fourth most-reckoned-with cryptocurrency in the market as of today.
Meanwhile, the growing popularity of Notcoin and its persistent rise in value continue to raise eyebrows. That is as it concerns what really might be behind the rally.
Analysts believe that its successful integration with Telegram’s extensive user base may have played a prominent role in its ongoing reality. For some reason, the recent airdrop did not get the expected reception at the initial stage. However, things have since changed, and its growing acceptance can now be seen in the token’s price increase.
About the daily transaction volumes, that has all to do with the notable growth of the Notcoin network. The platform allows users to earn NOT tokens by completing simple games and tasks. Additionally, Notcoin also recently launched “earnings missions,” to further boost user engagement.
From all indications, Notcoin looks set to take play-to-earn (P2E) to another level. That is especially true with its straightforward gameplay and social media integration.
This might explain why analysts believe that the ongoing rally may eventually take the Notcoin price to the $0.1 mark.
Similarly, on-chain data provider Lookonchain has reported a significant surge in the price of Notcoin ($NOT). According to its record, $NOT has risen by more than 400% in the past seven days.
In an X post, Lookonchain shared that an unidentified whale has an unrealized profit of $862,000 on $NOT. The investor reportedly spent 50,550 $TON ($278,000) to purchase 46.4 billion $wNOT before $NOT was listed.
The price of #Notcoin( $NOT) has risen by more than 400% in the past 7 days.
We noticed that a whale has an unrealized profit of $862K on $NOT.
He spent 50,550 $TON($278K) to buy 46.4B $wNOT before $NOT was listed.
1000 $wNOT can be exchanged for 1 $NOT.
On May 21, he… pic.twitter.com/Da29qniVzg
— Lookonchain (@lookonchain) June 3, 2024
All eyes are presently on the price of Notcoin as the crypto community continues to observe with keen interest, when and how it will reach higher price targets.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
