Popular play-to-earn token Notcoin (NOT), has continued to retain investors’ attention during the last week with a surprising positive market performance. Based on data from CoinMarketCap, Notcoin gained 46.97% within the last day emerging because the top-performing asset available in the market.
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Notcoin Records Weekly Gains Of 238%
With the overall crypto market showing a stable price movement, Notcoin’s explosive performance which indicates a high level of shopping for pressure has taken center stage amongst spectators, analysts, and prospective investors.
The crypto gaming project was initially introduced as a closed beta version in November 2023 by the Open Builders and supported by the Open Network (TON) Foundation. Following its official launch in January 2024, Notcoin quickly garnered much attention, registering thousands and thousands of users resulting from its simplistic gameplay and strategic integration with the social media app Telegram.
On this play-to-earn game, players earn NOT coins by tapping constantly on a virtual gold coin and executing easy tasks. Nevertheless, in recent times, Notcoin has introduced a recent feature often known as “earnings missions” which allows users to passively stack up NOT tokens.
The NOT token was officially airdropped on May 16 and has since showcased either side of the crypto market’s volatility. Following this release, Notcoin initially dipped by over 60% falling from $0.012 to trade as little as $0.0050.
Nevertheless, within the last week, the token has put up a remarkable performance gaining by 237.70% to realize an all-time high value of $0.01781. Notably, Notcoin’s market cap value has also grown from $526.77 million to about $1.81 billion pushing the token into the highest sixty cryptocurrencies.
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What’s Next For Notcoin?
At press time, NOT trades at $0.01735 following a 155.57% rise in its each day trading volume per data from CoinMarketCap.
Based on a prediction by Coincodex, the sentiment around Notcoin is extremely bullish with a Fear & Greed Index of 72. With the bulls retaining market control, Coincodex predicts the play-to-earn token to rise to $0.021 and $0.054 in five and thirty days respectively.
Nevertheless, on the token’s 4-hour trading chart, the Relative Strength Index (RSI) is well within the overbought zone indicating a trend reversal may lie on the horizon and the present bull trend may soon be over.
NOT trading at $0.01782 on the 4-hour chart | Source: NOTUSDT chart on Tradingview.com
Nevertheless, Notcoin’s future trajectory stays uncertain and can likely be influenced by future network developments/features and the project’s ability to retain its growing customer base. All investors are admonished to conduct proper research before investing in any asset because the crypto market stays subject to high levels of volatility.
Featured image from iStock, chart from Tradingview