Notcoin’s price has experienced an astounding surge of 320% in just one week, propelling it to reach a new all-time high. The question now arises: can this remarkable momentum be sustained, driven by the social hype surrounding the NOT token?
According to data from TradingView, Notcoin’s price witnessed a staggering rally of over 323% in the past week alone, culminating in a record-breaking value of $0.02896 on June 2. The chart provided by TradingView depicts the significant growth in NOT/USDT over a one-week period.
In an impressively short span of less than two months, Notcoin, a play-to-earn game and token integrated as a Telegram Mini App, has managed to attract an impressive user base of over 30 million individuals on the popular messaging platform Telegram. This influx of users has introduced a fresh wave of mainstream adopters to the world of cryptocurrencies.
On May 16, Notcoin made its debut on the Bybit exchange, enabling trading activities with the token. Since its listing, NOT has seen a remarkable surge of over 200% in just two and a half weeks.
Following this tremendous rally, Notcoin’s market capitalization soared to a staggering $2.3 billion, positioning it as the 51st largest cryptocurrency tracked by CoinMarketCap.
Justin Hyun, the director of investments at TON Foundation, believes that Notcoin and other Telegram Mini Apps possess the potential to serve as a “Trojan horse” for widespread blockchain adoption, possibly bringing in an additional 500 million users to the world of cryptocurrencies.
The surge in Notcoin’s price can be largely attributed to the growing interest and engagement on social media platforms. Within a mere two weeks of its launch, Notcoin emerged as the second-most mentioned cryptocurrency within a 12-hour timeframe, as confirmed by Alphascan’s post on June 3. The provided chart demonstrates the increasing social mentions of Notcoin.
Furthermore, the burgeoning investor interest in Notcoin is evident in its ranking as the fifth-most traded cryptocurrency in the market, with a trading volume surpassing $4 billion on June 3. This impressive figure even surpasses the trading volume of USD Coin (USDC), which stood at $3.5 billion during the same period, according to CoinGecko.
The escalating social sentiment surrounding Notcoin has also attracted the attention of prominent investors, commonly referred to as “whales,” within the Telegram ecosystem. Notably, this interest extends to Toncoin (TON), as highlighted by crypto analyst Ali Martinez in a post shared with his 63,400 followers on June 3. The accompanying chart illustrates the increasing number of large Toncoin transactions.
To clarify, this article does not intend to provide investment advice or recommendations. It is essential for readers to conduct their own thorough research and analysis before making any investment or trading decisions.