- The volume surpassed $1 billion, suggesting a possible increase to $0.01.
- Social dominance dropped but sentiment around the project remained bullish.
As an experienced analyst, I find Notcoin’s (NOT) recent price surge quite intriguing. In just 24 hours, NOT saw a staggering increase of 45.13%, reaching a market cap of $790.35 million and ranking among the top 100 cryptocurrencies by market cap.
In the past day, the newly introduced Notcoin (NOT) token from the mine-to-earn game operating on The Open Network displayed an impressive improvement.
At press time, NOT’s price was $0.0076, representing a mind-blowing 45.13% increase.
It’s intriguing that this rise occurred during a period when many leading assets in the market experienced losses or stagnated, coinciding with our recent price forecast from AMBCrypto.
However, the price increase did more than add to the gains of Notcoin holders.
The token joined the elite group of the top 100 with a total value of $790.35 million, calculated as the price per unit multiplied by the number of tokens in circulation.
If the price keeps rising, there’s a good likelihood that NOT could overtake some projects currently ranked higher, as long as their value growth slows down.
NOT is not equal to TON
As an analyst, I’ve come across an intriguing observation from AMBCrypto. They highlighted that Notcoin experienced a significant setback, losing approximately 55% of its value shortly following its debut. Concurrently, the price of Toncoin, being the native token for The Open Network, saw an upward trend during the same period.
However, the situation has shifted, with NOT appearing to forge its own course independently. This observation arose due to TON‘s price deviating from the general upward trend.
As of this writing, TON’s price was $6.28— a 1.32% decrease within the same period Notcoin jumped.
At the point of publication, the trading volume for NOT stood at a staggering $1.05 billion. This marked a new peak since the coin’s inception in mid-May. The volume serves as a barometer of market activity and investor interest in a cryptocurrency.
The rise either shows the rate of buying and selling.
As a researcher observing market trends, I’ve noticed that unlike previous instances of price collapse, the current increase in trading volume might be attributed to a significant uptick in buying demand.
If the volume continues to rise alongside the price, NOT could head for a higher value.
Beware! $0.01 is not guaranteed
Based on current appearances, Notcoin could potentially reach a value of $0.01 in the upcoming weeks.
Should this be the case, the market cap of the project could surpass the $1 billion landmark.
If the token loses its appeal, this forecast may no longer hold true, and it might take more time before NOT reaches its target.
In addition to the indicators above, AMBCrypto also assessed the sentiment around NOT.
Based on Santiment’s data, the Weighted Sentiment shifted from a score of 0.656 to 0.965 within the span of May 26th to 28th.
As a crypto investor, I’ve noticed an uptick in optimistic chatter surrounding Notcoin prior to its price surge. Consequently, it came as no shock to me that the demand for this token had been robust before its breakout.
As a researcher observing market trends, I’ve noticed that if the metric keeps climbing, there’s a possibility of fear of missing out (FOMO) emerging among investors. Consequently, NOT‘s price might experience a correction as a result.
In simpler terms, FOMO in the crypto world refers to the anxiety or fear that arises when one feels they’re missing out on a potential profitable investment opportunity due to others’ buzz and hype around a particular asset, often leading to buying decisions near price peaks.
Realistic or not, here’s NOT’s market cap in TON terms
If an unexpected event occurs for Notcoin, the predicted increase to $0.01 may no longer hold true. According to data on social influence and trading activity, Notcoin holds a significant portion.
At the moment when the news was published, the increase in interest surrounding the project was already starting to wane, as signified by a drop in searches and conversations about it.
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2024-05-28 17:12