Notcoin Price Charting New ATHs: Just Hype Or Something Else? Read CoinChapter.com on Google News
NOIDA (CoinChapter.com)— Notcoin price charted a new all-time high (ATH) on May 30 after the token overtook its one-day-old record. Furthermore, the surge is likely a result of several factors that drove the token’s price upward.
NOT price action over the past 7 days. Source: CoinStats
The token, which started trading on May 18, has been on a massive bullrun over the past 7 days. NOT prices rose 1509% WTD to reach a daily high near $0.013 before paring some of its gains.
Notcoin Listings Likely Reason Behind Rally
Data provider CryptoQuant shared a post on X highlighting the on-chain activity of the Notcoin token. Following its major exchange listing, NOTCOIN experienced a significant increase in transaction volumes and active addresses.
Transaction volumes and active addresses sharply rose with transaction volumes, suggesting heightened interest and active trading. Despite initial volatility, large holder cohorts, particularly those holding between 100K and 1M NOTCOIN, continued accumulating.
Notcoin whale addresses.
The accumulation indicates long-term confidence in NOTCOIN’s value beyond short-term market fluctuations. In simpler terms, investors believe Notcoin might someday become a store of value rather than just another memecoin.
The distribution of community incentives through airdrops has also been crucial. It has increased user engagement and promoted circulation, thus supporting NOTCOIN’s overall market health.
The consistent accumulation by large holders underscores a strategic belief in NOTCOIN’s potential. This trend indicates a more profound confidence in the cryptocurrency’s long-term value proposition, driven by its community engagement and strategic incentive distribution.
NOT Prices Take A Break After Recent Run
Meanwhile, NOT price action slowed on May 31 after its recent massive rally, with the token correcting 7.7% to reach a low near $0.012. However, NOT bulls fought back against the bearish pressure, recovering substantial ground while ensuring hopes for a continued rally.
NOTUSD daily price chart with RSI. Source: Tradingview.com
If the Notcoin price continues its rally, the token will face resistance from the 0.618 FIB retracement level near $0.0137. However, breaking and consolidating above the immediate resistance could help NOT price chart a new ATH near $0.015.
On the other hand, profit-booking bears might force NOT price to start a downtrend, which could result in the token dropping to the 0.382 FIB level near $0.0112. Breaching below the immediate support could force Notcoin’s price to the support near $0.0098.
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