Social sentiment drives notecoin price rise
The growing interest of retail entities across social media platforms appears to be among the main drivers of Notcoin's price rising to all-time highs.
Just two weeks after its launch, Notcoin became the second largest cryptocurrency on the 12-hour time frame chart, according to what Alphascan published on June 3:
“The coin was the second most important symbol mentioned in the 12-hour time frame. And one of the most important major symbols mentioned in the daily time frame... It also received 45% of all weekly signals that occurred in the last 24 hours, and 81% of all daily signals that occurred.” In the last 12 hours.”
Frequency of mentions of “NoteCoin” on social media platforms. Source: Alphascan
As a further sign of growing investor interest, Notcoin became the fifth most traded cryptocurrency on the market, reaching a trading volume of over $4 billion on June 3 — surpassing that of
USDc
$1.0
$3.5 billion, according to Coingecko.
The growing social sentiment around Notcoin has also attracted more large investors, or whales, to the Telegram ecosystem, specifically to Toncoin (TON), according to cryptocurrency analyst Ali Martinez.