Since it was first introduced on May 16, Notcoin (NOT) has been causing a commotion in the cryptocurrency markets over the last several weeks. Over the course of the last week, the price of Notcoin has increased by 150%, reaching new all-time highs in tandem with the surge in trading volumes.
The spike in the price of Notcoin might be attributed to the fact that trade volumes on Thursday surpassed $1.47 billion, as reported by Yahoo Finance.
The price of Notcoin, which had been hovering at $0.0118, had a modest decline on Friday, after reaching record highs over $0.013 on Thursday.
An online social clicker game that is based on Telegram is powered by Notcoin, which is a play-to-earn cryptocurrency that was launched on the TON blockchain.
The TON Foundation is supporting NOT because it is on the TON blockchain and is one of the most popular projects on the blockchain.
Moreover, the game of Notcoin has already seen phenomenal expansion. Within the first thirty hours after the debut of Notcoin, the TON blockchain reportedly welcomed more than one million new users, as reported by social media.
Incentives are built into Notcoin's tokenomics to encourage users to participate. If an inactive user has been idle for more than thirty days, five percent of their possessions will be burned every day.
Prediction of the Price of Notcoin: Is Now the Right Time to Buy?
The price of Notcoin has created a descending triangle pattern over the course of the last twenty-four hours or so, which indicates that a price drop may be on the horizon, maybe returning to the $0.01 level, which serves as support.
As a result of this loss, the market capitalization of NOT might go below one billion dollars.
For a game that has garnered such fast growth and has so much potential, it is quite unlikely that it will remain at a price of one billion dollars for an extended period of time.
The majority of traders are likely to see price declines to be chances for purchasing.
