Notcoin proudly announced that the token has 1.6 million on-chain holdings, surpassing meme coins like Shiba Inu, BONK, and Pepe. NOT price hits record high with 150% weekly gains.
The Notcoin (NOT) price rally appears to be unstoppable at this time, as the Telegram-based cryptocurrency has reached a new all-time high of $0.012 with a market capitalization of $1.218 billion in the last 24Â hours, an increase of 40%.
Additionally, the daily trading volume for NOT has surpassed $1.2 billion, an increase of 18%.
Notcoin (NOT) Price Extends Weekly Gains to 150%
In the past week, the price of Notcoin (NOT) has increased by an astounding 150%, taking its market capitalization above $640 million.
NOTcoin, a play-to-earn Web3 game hosted on Telegram, is experiencing a concurrent surge in prominence that parallels NOT’s extraordinary expansion.
The game’s functionality to convert in-game currency into NOT tokens has garnered considerable attention from Telegram’s vast user base.
On May 16, 2024, the Notcoin (NOT) token formally debuted, peaking at $0.009900.
However, by May 23, 2024, the NOT price experienced a pullback phase, falling to approximately $0.004500, representing an approximate 54% decline.
After a decline, the NOT price witnessed a substantial increase, eclipsing its previous record high of $0.009900.
A surge in Notcoin interest has precipitated a deluge of short position liquidations totaling over $5.9 million in the last twenty-four hours.
NOT ascended to the list of the top 100 assets and attained a market capitalization of $1 billion just two days ago.
However, its position in the rankings has since risen, and it presently occupies the 81st spot with a market capitalization of $1.2 billion.
Furthermore, the NOT team declared with pride that the token currently has a total of 1.6 million on-chain holders, which is more than the holder counts of well-known meme currencies such as Shiba Inu, BONK, and Pepe.
Caution Ahead for NOT?
The current Relative Strength Index (RSI) for NOT, the native token of Notcoin, is 83, according to data recently published by Santiment.
This indicator suggests that Notcoin is currently overbought, which raises concerns regarding the possibility that whales, or large holders, are manipulating prices.
NOT’s RSI would likely benefit from a period of cooling off, falling below the 50-point threshold, to maintain its upward price slope.
However, implementing this modification has the potential to alleviate the concern of excessive speculation and promote a more stable market environment for Notcoin.