As reported by BlockBeats, Notcoin (NOT) has seen its price drop since the arrest of Telegram CEO Pavel Durov on August 24. At press time, the altcoin is trading at $0.0088, having lost 20% of its value.
As selling pressure mounts, NOT could fall to its all-time low of $0.0046 set on May 24. The number of active addresses trading the altcoin has fallen by 76% over the past seven days, while the number of new addresses has dropped by 77%.
Nonetheless, NOT whales have increased their accumulation over the past seven days, with net flows from large holders surging 312%. The metric hit a three-month high of 15.33 billion NOT on August 24, following the news of Durov’s arrest.
NOT’s technical indicators suggest that the token’s value could fall further. The Chaikin Money Flow (CMF) hit a 30-day low of -0.22, indicating market weakness. The Relative Strength Index (RSI) is 35.50, reinforcing the bearish outlook.
If the sell-off continues, NOT may fall back to its all-time low and could fall further to $0.00031. If market sentiment changes and demand surges, its price could rebound to $0.013.
