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Notcoin price continues to rise, some traders think new gaming token PlayDoge could see similar gains
Notcoin (NOT) is experiencing a bullish rally, up 14% in the last day.
This brings the price of NOT to $0.018 after a period of bearish momentum.
And some traders think the new gaming token PlayDoge (PLAY) could be the next to follow suit, thanks to its retro vibes and P2E rewards.
Notcoin Sees 14% Increase as Trading Volumes Resume
If you are watching the market, Notcoin probably caught your attention this week.
The meme-themed gaming coin it is currently growing by over 8% since yesterday, continuing its rebound from Tuesday’s low.
While it may NOT take a break now, trading sideways around the 50 period simple moving average (SMA) on the 4-hour chart, it may form a bullish flag pattern.
This means that another bullish wave may be brewing for the coin.
However, NOT still has a long way to go before it recaptures its June 2 all-time high, with a further 64% increase needed to reach that level.
But the good news is that Notcoin’s positive price action is supported by significant volume.
Over the past day, spot trading activity for the token increased 67% to $1.2 billion the thirteenth most traded cryptocurrency globally.
This is higher than that of XRP and Shiba Inu.
Finally, the stars are aligning for Notcoin as it continues to attract more investors.
Key Factors Behind Notcoin’s Bullish Resurgence
So, what is driving this resurgence for Notcoin?
Well, a few key factors appear to be converging this week.
First, there has been a big push for the Telegram Open Network (TON) blockchain, which Notcoin calls home.
TONNE has now upended Ethereum in terms of daily active addresses – a huge milestone that shines a spotlight on the budding ecosystem.
Since NOT is TON’s main meme coin, it is reaping the benefits of being in the right place at the right time.
Additionally, NOT tokenomics took a bullish turn when the developers tweeted that they would do so they revoked their property privileges.
This means supply is now limited, taking future inflation fears off the table.
But the most important catalyst has been the changing macroeconomic landscape.
With colder inflation data coming in and the Fed keeping interest rates unchanged, the appetite for riskier crypto trades has increased.
Notcoin is clearly benefiting from this trend.
These three factors are creating the ideal conditions for the price of NOT to rise this week.
Could Retro Gaming Token PlayDoge Outperform Notcoin After Raising $4 Million in Pre-Sale?
Now traders are considering whether PlayDogethe new retro gaming token, can get a Notcoin-like pump when hitting exchanges.
And some even believe that PlayDoge’s upside potential could be much higher.
Notcoin’s simple premise has clearly resonated with retail investors.
But PlayDoge combines the same energy with a compelling Play-to-Earn (P2E) gameplay loop.
The gameplay revolves around raising and caring for an 8-bit Doge pet by earning PLAY tokens.
Then there are the bet prizes and other utilities built into PlayDoge’s design from day one.
PlayDoge also has a clear roadmap and White paper detailing the development team’s long-term vision for the project.
Yet despite all this usefulness, PlayDoge still has the feel of a meme coin.
It combines the iconic Doge meme with the nostalgia of 90s games like Pokemon and Tamagotchi.
And early pre-sale numbers seem to indicate that investors are eager to get in on the action.
PlayDoge has already raised over $4 million in just two weeks since launching the pre-sale.
PLAY tokens are on offer at $0.00507, but due to the phased structure of the presale, the price will increase over time.
Once the pre-sale ends, the PlayDoge team plans to list PLAY on a top-tier DEX, such as PancakeSwap.
So, while Notcoin is experiencing bullish momentum, PlayDoge may soon follow suit with its own explosive growth.
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