Markets
Notcoin (NOT) Earns 47% Daily Profit to Become Top Market Gainer
Popular play-to-earn token Notcoin (NOT) continued to capture investor attention over the past week with a stunning positive market performance. According to data from CoinMarketCapNotcoin gained 46.97% over the past day, becoming the best performing asset in the market.
Notcoin records weekly gains of 238%
While the general crypto market shows stable price movement, Notcoin’s explosive performance, which indicates a high level of buying pressure, has taken center stage among onlookers, analysts, and potential investors.
The crypto gaming project was initially presented in closed beta in November 2023 by the Open Builders and supported by the Open Network Foundation (TON). After its official launch in January 2024, Notcoin quickly attracted a lot of attention, registering millions of users due to its simplistic gameplay and strategic integration with the social media app Telegram.
In this play-to-earn game, players do NOT earn coins by continuously tapping a virtual gold coin and completing simple tasks. However, in recent times, Notcoin has introduced a new feature known as “earning missions” which allows users to passively accumulate NOT tokens.
The NOT token was officially released on May 16 and has since showcased both sides of crypto market volatility. Following this release, Notcoin initially fell by over 60%, from $0.012 to $0.0050.
However, last week the token achieved a remarkable performance gaining 237.70% to reach an all-time high of $0.01781. Notably, the market capitalization value of Notcoin also increased from $526.77 million to around $1.81 billion, propelling the token among the top sixty cryptocurrencies.
What’s next for Notcoin?
At press time, NOT is trading at $0.01735 following a 155.57% increase in its daily trading volume according to data from CoinMarketCap.
According to a prediction by Coincodexthe sentiment around Notcoin is very bullish with a Fear and Greed Index of 72. As bulls maintain control of the market, Coincodex predicts that the play-to-earn token will reach $0.021 and $0.054 in five and thirty days respectively.
However, on the 4-hour trading chart of the token, the relative strength index (RSI) is well within the overbought zone, indicating that a trend reversal could be on the horizon and the current uptrend may soon be over.
Nonetheless, Notcoin’s future trajectory remains uncertain and will likely be influenced by future network developments/features and the project’s ability to retain its growing customer base. All investors are advised to conduct appropriate research before investing in any asset as the crypto market remains subject to high levels of volatility.
Featured image from iStock, chart from Tradingview