Why Analysts Are Buying This $0.02 Coin While Notcoin Falls 33%
$NOT, the token behind crypto's popular new Telegram-based game Notcoin, is down 33% in the past month to $0.007763.
Its fortunes have changed since last month, when another Telegram game, Lost Dogs, offered holders hope for a huge rally: The Way increased Notcoin prices 50% in seven days.
Notcoin, Lost Dogs Co., and Getgems developed the game together.
But Notcoin's native $NOT token is currently struggling to stay up with market leaders. Market leader Bitcoin ($BTC) fell 4.4% to $56,775 in 30 days.
Top challenger Ethereum ($ETH) lost 13% in 30 days, while Toncoin supporting Notcoin's home chain The Open Network lost 19%.
Freefall continues for $NOT. The token fell 5.2% in 24 hours, while the top two cryptocurrencies fell 1%.
The Telegram app offers Notcoin, a game. Start earning $NOT by opening the Notcoin bot, inviting friends, and tapping the gold coin.
Tap allowances are limited and replenish slowly. Quests and community deeds earn taps.
The game and token operate on The Open Network (symbolized by $TON), a blockchain broken apart from Telegram in 2020 after the SEC sued it with breaching federal securities laws by selling it.
The support (green) and resistance (red) lines on the chart below show Notcoin's token trading between $0.007 and $0.018 throughout the summer.
Notcoin is trading near its support level, just below its 30-day moving average, indicating a rapid sell-off.
Its relative strength indicator (RSI) is 29, indicating that the asset is oversold, thus overnight purchasing momentum may give the token green candles heading into the weekend, but Notcoin is unlikely to reach $0.018 barrier.
