The upcoming Notcoin (NOT) originated as a viral Telegram game to introduce users to Web3 on the TON blockchain. Recently, it has been observed that a rug-pull token with the same NOT as the legitimate one scammed crypto users on a centralized exchange (CEX). On May 16, 2024, a security firm, PeckShieldAlert, made a post on X (previously Twitter) stating that the fake Notcoin (NOT) on Ethereum has dropped 100%.
Fake NOT token price dropped 100%
A possible suspect behind this fake NOT token, with the wallet address 0xE0eB, has dumped 1.6 trillion NOT for 93.5 WETH worth $281.3k. Following this dump, the fake NOT token price dropped from $0.000018 to $0. However, this occurred just before the original NOT token was listed on Binance, the world’s biggest cryptocurrency exchange, and other DEXs (Decentralized Exchanges) like KuCoin, BitMEX, and others. Currently, the NOT token is available on the launch pool of Binance and will soon begin spot trading today.
However, this rug-pull token is now trading at nearly $0, and a similar swap was also observed in the recent fake XAI, which also dropped by 100% before it was listed on Binance, as reported by Todayq News on January 10, 2024.
Furthermore, retailers and newcomers must understand the essential factors before investing in crypto, especially if they wish to avoid ETFs. Conducting thorough analysis, including checking market cap on Coinmarketcap, focusing on top cryptocurrencies by market cap, reviewing white papers, and examining roadmaps or upcoming projects, can help investors make informed decisions and avoid potential regrets in their investments.
What is Notcoin (NOT)?
NOT started as a viral Telegram game introducing users to Web3 on the TON blockchain and was founded by Sasha Plotvinov. Its website prompts users to join Telegram and provides links to social media and a “blank” whitepaper. NOT utilizes “tap-to-earn” mining, rewarding users for discovering Web3 products, playing games, and adding value.
$NOT coin Explore, a recent addition, rewards users for engaging with new Web3 projects. With a massive Telegram community nearing 7 million members and growing, Notcoin is poised for widespread adoption. The team’s commitment to token burn post-launch adds a deflationary element, potentially boosting long-term value.
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