Notcoin ($NOT) surged by more than 350% and added almost $2 billion to its market cap. The tides are still high, with the token banking a weekly surge of 224.39%, now valued at $0.02114. Furthermore, the market cap has surpassed the $2 billion mark, and the 24-hour trading volume was more than $4.3 billion at the time of writing this article.
NOT ended up becoming the 4th most traded cryptocurrency in the market. Whales’ activity and the prevailing sentiments play a significant role. The Telegram-based cryptocurrency is up by 8.22% in the last 24 hours. Its market cap and 24-hour trading volume have jumped by 8.19% and 102.38%, respectively.
NOT is next expected to jump to $0.027554 in the next 5 days and $0.068792 in the next 30 days. The latter would mark an increase of 223.58%, pretty much following the ongoing trend. Overall sentiments are bullish for Notcoin, and the Fear & Greed Index is showing 73 points with 56% green days in the last 18 days. The 14-day RSI comes to 68.63.
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The trading volume was seen going up by 220%. Analysts have suggested that this could be due to Telegram’s integration with its extensive user base. The turnaround since its inception has been phenomenal, reflecting a rise in the token value. What makes Notcoin attractive is the fact that users can earn the native token simply by completing tasks and playing games.
Tokens can be accumulated passively via earnings missions. Thereby, boosting further engagement with the ecosystem. Notcoin is only believed to better capitalize on this model in the days to come.
A large investor, Whale, has been identified behind the recent surge. They are believed to have spent 50,550 NOT tokens, worth approximately $278,000, to buy 46.4 billion $wNOT. They now have an unrealized profit of $862,000 on the token. Experts predict that the NOT coin won’t stop increasing in value until the Telegram community actively utilizes its mini apps. This will only continue to cause a surge in valuation.
The weekly gain of Notcoin is better than that of Bitcoin and Ethereum. BTC and ETH have only been able to jump by 0.72% and down by 2.42%, respectively. However, this could be due to the fact that the values of BTC and ETH are already higher than they should be, or perhaps even higher to a point where another upswing will occur at a slower pace, with higher lows. ETH is waiting for a nod on Spot Ether ETF, while BTC can be seen consolidating once again before it ventures out to achieve the milestone of $100,000 by the end of this year.
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NOT is in the top 55 cryptocurrencies with a market cap of $2.1 billion. The next milestone is $4 billion, which could happen before the calendar changes to 2025.
