Notcoin's $NOT token, which powers the new popular crypto game that uses Telegram, has fallen 2.7% in the last 24 hours, trading at $0.0114 at the time of writing.
This is a turning point for the coin, which earlier this month saw price increases that were promising and gave investors optimism for a possible big gain.
The release of Lost Dogs: The Way, a second game on Telegram, came first. A partnership between Notcoin and Lost Dogs Co., a game studio, and Getgems, an NFT trading platform, developed by fellow TON developers. In the seven days after the announcement, the price of Notcoin increased by half.
Then, on August 13, the price of Notcoin hit a low of $0.0109; the next day, it jumped 13% to $0.0123.
The Notcoin Crypto Offering on Telegram
Users may access the game Notcoin using the app that is based on Telegram. You may start earning $NOT by opening the Notcoin bot, inviting friends, and pressing on the gold coin on the UI.
There is a limited amount of time until your tap allowance refills. But by going on quests and helping out their communities, gamers may earn taps at a faster rate.
The game and its token are powered by The Open Network, a blockchain that was split away from Telegram in 2020 after SEC charges of federal securities law violations by the firm. It is represented by the native utility token $TON. They are still very much linked.
Roaring Prices and Rapid Decline of the NOT Token
As shown on the chart below, Notcoin has spent much of the summer trading between a fairly tight range of $0.018 and $0.009, with the red lines representing resistance and the green lines representing support.
The price has been moving in a positive trend as of late, but it is still 60% below its ATH, which was $0.02836 on June 2 of this year.
Its recent losses, most of which happened before Monday's crypto meltdown, demonstrate how investor sentiment has been slowly declining. Notcoin is not expected to spiral anytime soon, as its relative strength index (RSI) is now at 51 and increasing.
But if the market news cycle is good and the developers make more positive announcements, the token might go back up in the green.
