A well-known analyst called Notcoin (NOT) the best memcoin on the market.
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The popularity of memecoins such as DOGE and SHIB has led to a surge in the creation of similar assets
Against the backdrop of a crowded market, the new project Notcoin especially stands out
Now the market value of NOT exceeds $1.6 billion
In the cryptocurrency ecosystem, memcoins have captivated investors with their high return potential. The surge in meme coin launches has been driven by the success of sector veterans such as Dogecoin (DOGE) and Shiba Inu (SHIB)
According to the famous cryptanalyst Alex Kruger, against the backdrop of the crowded memcoin market, a new project especially stands out - Notcoin (NOT).
The editors of BeInCrypto talked about how to make money on cryptocurrency in 2024.
Notcoin user base has reached 40 million people
According to the Dune dashboard, more than a million new tokens appeared on the market in April. This exceeded the total number of coins ever created on the blockchain of the second largest cryptocurrency by capitalization, Ethereum (ETH).
However, according to Kruger, traditional strategies for creating memcoins are losing their former effectiveness.
“The chances of a new memecoin succeeding if the developers follow the old approach are now very close to zero, no matter how well connected the team is. Memcoin projects need new mechanics, such as in the case of Notcoin,” the analyst wrote.
Notcoin is developed on the basis of The Open Network (TON) and works as mini-applications in Telegram. The project offers unique game elements that have captivated a wider audience. Thus, the Notcoin team recently announced that it had reached a new milestone - 40 million users.
“These are activated users from the database, not from web analytics tools, which multiply the number of users in their session and now show 500 million Notcoin users,” explained the developers of the game project.
A significant user base has brought Notcoin into the spotlight in the crypto market. For a short time, the NOT token broke into the top 50 most capitalized cryptocurrencies. The asset was also among the four most traded coins on the market, behind only Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).
According to CoinGecko, at the time of writing, the asset had fallen back to 68th place with a market value of $1.6 billion. Notcoin is now trading at $0.01591, having dropped by 11.8% over the past 24 hours. However, over the past two weeks, the price of NOT has collectively increased by more than 64%.
The Notcoin team is preparing several announcements
According to the developers' estimates, Notcoin players have already earned $1.5 million in Toncoin (TON), the native token of The Open Network ecosystem, through 20 campaigns. At the same time, the team expects that after the automation of new missions, the figure will increase at least tenfold.
Third-party projects will be able to launch missions themselves, Notcoin said in a statement.