Notcoin fell by about 15% during the day. The expert explained the reasons.
According to him, Notcoin is a typical bubble project.
JUNE 5, 2024, 4:48 p.m
Over the day, Notcoin fell by about 15% and as of 4:40 p.m. is trading at $0.0206.
Mind learned about this from data on the CoinMarketCap website.
In a comment to Mind, Dvizh service experts explain that NOT is a typical memcoin that was distributed to a large number of users for certain actions. And according to them, memcoins are bubble projects. The bubbles are easy to inflate, but they burst easily, experts say.
"In our opinion, globally, the game of inflating this bubble is not over yet. We've seen huge trading volumes for this token over the past week, so we think the best is yet to come.” - analysts say.
According to them, this is the first memcoin in TON, which had such strong support from both influencers (including Pavel Durov) and financially. According to experts, the token grew earlier for a number of reasons.
“Notcoin is a test game product for Telegram as a whole. Using his example, they showed how real Telegram users can convert into users of applications or games. Attracting an audience is a difficult task for any project, and Telegram wanted to show how it can solve it using the example of Notcoin. Already in March, there were more than 35 million "$NOT miners". With such indicators, any modern web3 project is "ready to kill. "" - they say in Dvizh.
Background. Mind previously wrote that since May 24, Notcoin (NOT) has grown in price by more than 360%. First of all, this is the result of the project's marketing campaign, which was launched long before its listing on the stock exchanges and the situation in the market.
Bought or sold? $NOT
