Notcoin (NOT) has hit an all-time high of $0.012 with a market cap of $1.218 billion, rising 40% in 24 hours and 150% over the past week.
With the Notcoin (NOT) cryptocurrency reaching an all-time high of $0.012 and a market cap of $1.218 billion, the price rally appears to be unstoppable at this stage. Recently, the cryptocurrency, which is based on Telegram, has gained an additional forty percent in the past twenty-four hours.
Notcoin (NOT) Price Extends Weekly Gains to 150%
As an additional point of interest, NOT’s daily trading volume has increased by 18%, surpassing $1.2 billion. The price of Notcoin (NOT) has increased by an astounding 150% over the course of the past week, adding more than $640 million to the platform’s total market capitalization.
Interestingly, the remarkable growth of NOT aligns with the increasing popularity of Notcoin, a play-to-earn Web3 game available on Telegram. The fact that this game gives players the ability to convert their in-game currency into NOT tokens has garnered a significant amount of interest from the vast user base that Telegram has generated.
On May 16, 2024, the Notcoin (NOT) token made its official debut, peaking at $0.009900. Nevertheless, by the 23rd of May in 2024, the price of NOT went through a phase of pullback, at which point it dropped to approximately $0.004500, representing a decrease of approximately 54%.
Following completion of this phase of pullback, the price of NOT experienced a significant increase, allowing it to surpass its previous all-time high of $0.009900. The recent surge in Notcoin’s value has triggered a wave of liquidations, resulting in the liquidation of over $5.9 million worth of short positions in the past twenty-four hours.
It has only been two days since NOT made its debut on the list of the top 100 assets and reached a market capitalization of one billion dollars. Since then, it has risen in the rankings, currently holding the 81st position with a market capitalization of $1.2 billion.
Additionally, the NOT team proudly announced that the token has 1.6 million on-chain holders, surpassing popular meme coins such as Shiba Inu, BONK, and Pepe in terms of the number of holders holding the token. Santiment recently disclosed that the Relative Strength Index (RSI) for NOT, the native token of Notcoin, is currently at 83. Santiment made this information publicly available.
Given that this indicator suggests an overbought state for Notcoin, we should be wary of potential price manipulation by large holders, commonly referred to as whales. It is likely that NOT would benefit from a cooling period, with its relative strength index (RSI) falling below the 50 mark, in order to maintain its rising price trajectory. This modification could facilitate a more stable market environment for Notcoin by reducing the risk of excessive speculation.