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Notcoin (NOT) Gains 47% Daily Profit, Emerging as Market’s Top Gainer — TradingView News
The popular play-to-earn token Notcoin (NOT), has continued to attract investor attention over the past week with a stunningly positive market performance. According to data from CoinMarketCap, Notcoin gained 46.97% over the past day, emerging as the best-performing asset in the market.
Notcoin posts weekly gains of 238%
With the overall cryptocurrency market showing stable price movement, Notcoin’s explosive performance indicating a high level of buying pressure has taken center stage among onlookers, analysts, and potential investors.
The crypto gaming project was initially introduced as a closed beta in November 2023 by Open Builders and supported by the Open Network (TON) Foundation. After its official launch in January 2024, Notcoin quickly attracted a lot of attention, registering millions of users thanks to its simplistic gameplay and strategic integration with the social media app Telegram.
In this “play to earn” game, players earn NOT coins by continuously tapping a virtual gold coin and performing simple tasks. However, in recent times, Notcoin has introduced a new feature known as “earning missions” that allows users to passively accumulate NOT tokens.
The NOT token was officially launched on May 16 and has since showcased both sides of the cryptocurrency market volatility. Following this release, Notcoin initially fell more than 60% from $0.012 to a low of $0.0050.
However, over the past week, the token has put in a remarkable performance, gaining 237.70% to reach an all-time high of $0.01781. Notably, Notcoin’s market capitalization value also grew from $526.77 million to approximately $1.81 billion, pushing the token into the top sixty cryptocurrencies.
What is the future of Notcoin?
As of this writing, NOT is trading at $0.01735 following a 155.57% increase in daily trading volume according to data from CoinMarketCap.
According to a forecast from Coincodex, sentiment around Notcoin is highly bullish with a Fear & Greed Index of 72. With bulls maintaining control of the market, Coincodex expects the play-to-earn token to rise to $0.021 and $0.054 in five and thirty days. respectively.
However, on the token’s 4-hour trading chart, the Relative Strength Index (RSI) is well into the overbought zone, indicating that a trend reversal may be on the horizon and the current uptrend may soon come to an end.
However, Notcoin’s future trajectory remains uncertain and will likely be influenced by future network developments/features and the project’s ability to maintain its growing customer base. All investors are advised to conduct adequate research before investing in any asset as the cryptocurrency market remains subject to high levels of volatility.
Featured image from iStock, chart from Tradingview