Notcoin (NOT) is experiencing a bullish uptick, with a 14% pump in the past day.
This takes NOT’s price up to $0.018 after a period of bearish momentum.
And some traders think the new PlayDoge (PLAY) gaming token could be next to follow suit, thanks to its retro vibes and P2E rewards.
Notcoin Sees 14% Surge as Trading Volumes Pick Up
If you’re watching the market, Notcoin has likely caught your eye this week.
The meme-themed gaming coin is currently up over 8% since yesterday, continuing its rebound from Tuesday’s low.
While $NOT may be taking a breather now, trading sideways around the 50-period simple moving average (SMA) on the 4-hour chart, it could be forming a bull flag pattern.
That means another bullish surge could be brewing for the coin.
However, NOT still has a long way to go before reclaiming its June 2 all-time high, with another 64% rise needed to reach that level.
But the good news is Notcoin’s positive price action is backed by meaningful volume.
Spot trading activity for the token jumped 67% to $1.2 billion over the past day – making it the 13th most traded crypto globally.
This is higher than the likes of XRP and Shiba Inu.
Ultimately, the stars are aligning for Notcoin as it continues to attract more investors.
Key Drivers Behind Notcoin’s Bullish Resurgence
So, what’s driving this resurgence for Notcoin?
Well, a few key factors seem to be converging this week.
First, there’s been a major boost for the Telegram Open Network (TON) blockchain, which Notcoin calls home.
TON has now flipped Ethereum in terms of daily active addresses – a huge milestone that shines a spotlight on the budding ecosystem.
Since NOT is TON’s premier meme coin, it’s reaping the benefits of being in the right place at the right time.
In addition, NOT’s tokenomics took a bullish twist when the devs tweeted that they’d revoked their ownership privileges.
That means the supply is now capped – taking future inflation fears off the table.
But the biggest catalyst has been the changing macro landscape.
With cooler inflation data rolling in and the Fed keeping interest rates the same, the appetite for riskier crypto plays has been boosted.
Notcoin is clearly benefiting from that trend.
These three factors are creating the ideal conditions to drive NOT’s price higher this week.
