The cryptocurrency Notcoin (NOT) has witnessed an impressive surge, achieving over 350% in weekly gains. Notcoin’s price skyrocketed by an additional 40% this Sunday, hitting a new peak of $0.027 while the broader cryptocurrency market experienced consolidation over the weekend.
How Did NOT Achieve 350% Growth?
NOT is currently valued at $0.02373, with a market capitalization of $2.439 billion. The rally has also led to a 220% spike in Notcoin’s daily trading volume, exceeding $4.5 billion and making it the fourth most traded cryptocurrency. Experts point to Notcoin’s integration with Telegram’s vast user base as a significant driver behind the token‘s price escalation. Although an initial airdrop garnered a lukewarm response, subsequent positive sentiment has bolstered the token’s value.
Why Are Whales Investing in NOT?
The increase in Notcoin network transactions has mirrored its growing popularity, with the platform allowing users to earn NOT tokens through simple games and tasks. The introduction of “earn missions” has further encouraged passive token accumulation, enhancing user engagement. Additionally, on-chain data reveals that Notcoin’s (NOT) price jumped by over 400% in the last week, suggesting potential price targets up to $0.1.
Key Insights for Investors
– Notcoin’s integration with Telegram’s large user base has been pivotal in its rapid price increase.
– Significant growth in daily trading volume indicates rising interest and liquidity in NOT.
– The introduction of simple games and “earn missions” has boosted user engagement and token accumulation.
– On-chain data suggests continued bullish momentum, with significant whales already achieving substantial unrealized profits.
On-chain data provider Lookonchain reported that a major investor, dubbed a whale, secured an unrealized profit of $862,000 by purchasing 46.4 billion wNOT with 50,550 TON ($278,000) before NOT’s listing. On May 21, this whale converted the wNOT into 46.4 million NOT and has held onto the tokens, reaping significant gains as the craze for Telegram mini-apps grows. Investors are eyeing higher price targets, fueled by this bullish trend.
Analysts are optimistic about Notcoin’s future, emphasizing its strong position in the expanding play-to-earn market. The persistent interest from large-scale investors and the increasing user engagement through Telegram integration suggest that Notcoin could continue on its upward trajectory.