Recently, the global cryptocurrency market has faced huge fluctuations, and Bitcoin once fell below the $60,000 mark. However, some tokens rose against the trend, and Notcoin (NOT) was a dazzling dark horse. The series of measures announced by the Notcoin team recently attracted the attention of the industry and the community sentiment was high.
On social media platform X, Notcoin’s official account (@thenotcoin) released a blockbuster announcement:
Notcoin will implement a more community-oriented token economic model. $3 million worth of Notcoin has been destroyed from circulation, while $4.2 million of NOT has been used to incentivize gold and silver users of Notcoin Explore.
Currently, 94.18% of Notcoin is held by more than 11.5 million people worldwide, including traders, miners, stakers, etc. Only 5.82% of NOT is retained in the project's treasury for development in the next few years.
The Notcoin team emphasized that the community has always been the core driving force behind Notcoin's development.
What is most exciting to the community is that the Notcoin team has pledged to invest $2.5 billion in Notcoin community building, which demonstrates the Notcoin team's sincerity and attention to the community.
Notcoin’s fundamental analysis also sends positive signals:
As of press time, the price of NOT was $0.01572, up 9.91% from the previous day. According to Coinmarketcap data, the market value of NOT also rose by 9.65% to $1.6 billion.
Technical analysis from AMBCrypto shows that NOT is showing a bullish trend. NOT’s daily chart shows that the current price is above the SMA, indicating that buyer power dominates the market and the market demand is strong, pushing the price of NOT up.
NOT’s RSI index is 51, slightly above the balance zone, also confirming the bullish signal. In the past 24 hours, NOT’s RSI has risen from 44 to 51, indicating that market sentiment is leaning towards optimism.
Data from Coinglass shows that the total open interest in Notcoin has surged from US$146 million to US$171 million in the past 24 hours, reflecting the inflow of more funds into the Notcoin market and a significant increase in participation, providing the basis for the continued rise of NOT. Solid foundation.
Recent liquidation data also confirms that the Notcoin market is relatively stable. In the past 24 hours, the liquidation amount of NOT long and short positions was only $410,000 and $322,000 respectively.
In summary, Notcoin community empowerment initiatives, strong market demand, and positive market sentiment together constitute the three pillars of NOT's bullishness. NOT rebounded after retesting the support level around $0.0141. If the positive sentiment continues, NOT is expected to break through $0.0161 in the short term and hit a high of $0.0208.
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