After a recent airdrop, Notcoin (NOT) has experienced a remarkable surge, defying the broader market trend. The Telegram-based cryptocurrency surged by an impressive 40% in the last 24 hours, accompanied by a significant increase in trading volumes, up by 450% to over $1 billion.
This rally has injected new momentum into the market following a period of relative inactivity. Currently, Notcoin (NOT) is trading at $0.007899, with a market cap of $811 million.
Notcoin (NOT) Surges Amid Growing Popularity and Bullish Sentiment
Notcoin (NOT) has witnessed significant growth coinciding with the rising popularity of Notcoin, a play-to-earn Web3 game hosted on Telegram. This game allows users to convert their in-game currency into NOT tokens, attracting considerable interest from Telegram’s extensive user base.
The coin saw a notable rebound following a highly anticipated airdrop that initially did not yield immediate gains for holders. Cryptocurrency trader Zen has expressed bullish sentiment for NOT in the mid-term, suggesting a positive outlook amidst market conditions. “Long-term depends on the market, but most probably also bullish. Dips are for buying,” the analyst remarked.
$NOT coin covered the gap left from after-launch sell off. Basically that is the main resistance area – if manage to close above most probably will attack 0.0068 POC. If not, might pull back to breakout level under 0.006
Mid term bullish. Long term depends on the market, but… pic.twitter.com/5WiBahvRrQ
— Zen (@WiseAnalyze) May 27, 2024
Following the airdrop, Notcoin’s social sentiment surged, propelling its recent price surge and putting it back into the spotlight. The project’s team has drawn comparisons between Notcoin and Bitcoin, marking milestones such as the announcement of NOT Airdrop Phase 1. In a recent Twitter poll with 29,711 participants, Notcoin overwhelmingly garnered 86.2% of the votes compared to Bitcoin’s 13.8%, showcasing strong community preference and support.
Limited supply
Wide distribution
Still cheap— Notcoin Ø (@thenotcoin) May 25, 2024
Bullish Sentiment in Notcoin (NOT) Futures Market
In the past 24 hours, Open Interest in Notcoin (NOT) surged from $44 million to $101 million, paralleling a price increase of over 40% during the same period. This significant rise reflects robust bullish sentiment in the Futures market, with traders increasingly opting for long positions.
The uptick in prices also triggered a wave of short liquidations, contributing further to the upward momentum. According to data from Coinalyze, over $4.4 million worth of short positions were liquidated within the last 24 hours, underscoring the strong buying pressure and positive market sentiment surrounding Notcoin (NOT).
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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