#NOT🔥🔥🔥 Price Prediction: Meme Coin Sees Sudden Decline
After a remarkable surge of over 4x to $0.02836 last week, Notcoin has retreated into the red zone, with bulls struggling to maintain support at $0.02. The token's value has increased by 120% over the past seven days, but the last 24 hours have seen a sharp decline of 12% during US business hours on Wednesday.
Profit-taking is a significant factor contributing to the market's instability. Early investors are cashing out their profits, likely reallocating them to established cryptocurrencies like Bitcoin. Following the impressive rally, a correction was anticipated. Now, Notcoin faces an uphill battle to demonstrate its ability to hold its value, attracting traders betting on the next breakout.
Currently, Notcoin is trading at $0.02116, with its technical structure suggesting a continued downtrend in the coming sessions. Meanwhile, investors have turned to more established meme coins, with Floki reaching a new all-time high and surging 17% in the last 24 hours.
The path forward appears bearish, with Notcoin's price slipping below the 20-day Exponential Moving Average (EMA). The Moving Average Convergence Divergence (MACD) indicator has issued a clear sell signal, supported by increasing red histograms.
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