Notcoin (NOT) fell by 85+%. What could go wrong

Let's look at why the Notcoin (NOT) price fell sharply after the recent hype and shortly after listing on exchanges

Notcoin is a Web3 gaming project based on the TON network, which appeared in January of this year as a mini-application in Telegram. In just a few months, the number of Notcoin players exceeded 35 million people. Since last week, NOT has become available on many major exchanges. But now investors lured by the recent boom are facing big losses.

It all started so well

Notcoin debuted on the Toncoin network last week. As part of the launched airdrop, investors eligible to participate in the program received NOT tokens worth approximately $1 billion.

The listing of the token on major exchanges, including Binance, initially allowed the price to reach an all-time high of $0.037. Within 10 minutes after launch, the project’s capitalization exceeded $1 billion, and within 24 hours NOT became the eighth most traded cryptocurrency on the market.

The project attracted significant attention thanks to the support of Telegram founder Pavel Durov. He publicly praised Notcoin on his Telegram channel, noting the project's rapid growth and its transition from in-game currency to real money for users. In addition, he promised to hold the tokens until their value increases 100 times.

Notcoin is expected to fall further

However, this excitement quickly faded, and the price of NOT began to plummet. Within a week, the value of the token fell by more than 85%, falling well below the launch price.

Investors did not want to hold coins in anticipation of potential future profits. Instead, they quickly sold off their airdrop tokens to make a profit right away. This massive sale led to a significant oversupply on the market, which further reduced the price.

A cryptanalyst under the nickname Crypto Patel is pessimistic about the prospects of the coin.#Notcion $NOT