Despite the weakness in Bitcoin and other large-cap altcoins, the Notcoin price is displaying significant bullish strength.
At the start of the week, $NOT experienced a pullback due to rising macroeconomic risks that created selling pressure in the broader cryptocurrency market. However, after hitting a low point of $0.015 on Tuesday, the Notcoin price surged by almost 40% to reach $0.21 by Friday.
Currently trading at $0.020, Notcoin has a market capitalization of just under $2 billion, making it the 49th largest cryptocurrency on CoinMarketCap.
Notcoin is the native cryptocurrency of the TON (Telegram Open Network) blockchain, developed by the founders of Telegram. With its integration with the Telegram messaging app and high scalability, TON is rapidly becoming a popular Layer-1 network in the Web3 industry, with some experts even hailing it as the ideal solution for mainstream crypto adoption.
TON’s daily increase in active addresses has surpassed that of Ethereum in June, although it lags behind Solana. TON’s daily active addresses have outperformed Ethereum’s figures, except for one day in June, leading some to believe TON could catch up with Solana in terms of market cap.
Similarly, TON has a total-value-locked (TVL) close to $600 million, with its USDT pool holding over $450 million in just over two months.
The growing popularity of the blockchain has significantly boosted the value of $NOT. However, experts are particularly bullish on Notcoin due to its play-to-earn utility. Notcoin was initially launched as a beginner-friendly game on Telegram, allowing players to earn free crypto by simply tapping on the screen. This resulted in a surge in popularity and a substantial increase in NOT’s price.
Although reaching $1 in 2024 may be ambitious due to the required market capitalization of $100 billion, $NOT has shown resilience during the recent crypto crash, outperforming many other altcoins, including Ethereum.
The correlation between Notcoin and Bitcoin has decreased significantly, indicating that the token is not as affected by BTC’s bearish trajectory or overall market sentiment.
Currently consolidating below the $0.020 resistance level, a breakout could trigger another significant upside move for $NOT, potentially pushing towards new highs.
In the long term, Notcoin has the potential to be one of the best-performing cryptocurrencies in this bull cycle, with a new all-time high of $0.50 within reach.
With Notcoin’s success highlighting the potential of the play-to-earn sector, a new GameFi meme coin, PlayDoge ($PLAY), has raised nearly $5 million in its presale in just over two weeks.
Combining the iconic Doge character with 90’s Tamagotchi nostalgia, PlayDoge offers an engaging virtual pet management game that rewards players with free crypto. Players can train, feed, and play with their virtual pet, earning additional $PLAY tokens by completing classic 2D games.
Gamers can also stake their holdings to earn passive income at an APY of over 180%. Positioned at the intersection of GameFi and meme coins, PlayDoge has garnered attention as the potential next 100x meme coin due to its successful presale figures.
