Is Notcoin Headed for a Crash? NOT Price Drops 6% From Peak as Buzz Grows for Another Meme Coin Listing
The rally of Notcoin seems to be losing momentum just shy of the three-week mark. The $NOT meme coin, which powers the popular Telegram-based tap-to-earn game Notcoin, has experienced a 6% dip in the past hour, indicating that its rally may be coming to a halt.
For those who purchased Notcoin ($NOT) between its launch on May 16 and yesterday, the token has been incredibly rewarding. In the last 24 hours alone, it has grown by 13%.
While this is a significant increase, it pales in comparison to the three-digit percentage gains seen on a weekly basis. Compared to this time last week, Notcoin is now 172% more expensive, and its price has increased by a staggering 348% compared to two weeks ago.
Interestingly, Notcoin’s decline seems to mirror that of leading cryptocurrencies Bitcoin ($BTC) and Ethereum ($ETH), both of which experienced a 0.5% drop in the last hour.
The impressive launch of $NOT was further bolstered by the recent announcement that players have until June 16 to claim their tokens. To claim, players must withdraw their tokens from the app to a wallet. Additionally, Notcoin players will soon have access to the game’s ‘Levels’ and ‘Explore’ features.
Despite the dip, Notcoin’s trading volume for the past 24 hours remains high at $2.265 billion, nearly matching its market cap of $2.535 billion. This makes it the 53rd largest cryptocurrency in circulation.
Analyzing the chart, it appears that NOT has encountered its first resistance level at $0.025, as indicated by the vertical red line. This, coupled with a falling relative strength index (RSI) of 55, suggests a slight sell-off today. However, it also indicates that NOT is performing well and may experience further rallies leading up to the claim date.
The current price of the token is approximately $0.024, slightly above its 30-day moving average represented by the blue line. Alongside the healthy RSI, this suggests that NOT is a well-performing asset.
Notcoin’s $NOT is part of a growing list of non-ERC20 meme coins. The meme coin aspect of Notcoin is both subtle and obvious. While it lacks a comic avatar, the name itself is a tongue-in-cheek response to those who claim that $NOT is not a cryptocurrency, despite its popularity, tradability, and fundamentals.
Notcoin is the largest meme coin on TON, a blockchain platform not typically associated with meme coin launches. However, TON, like Solana, is fostering a thriving community of app developers to compete with Ethereum in the realm of commerce.
It is uncertain whether Ethereum will maintain its leading position in the meme coin scene by 2025. Recent Solana projects such as DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME), and Popcat ($POPCAT) have all risen to become top ten meme coins within a year of launch.
Another Solana meme coin targeting stoners, Slothana ($SLOTH), raised an impressive $15 million in a one-month crypto presale.
Now, there’s a new hilarious and patriotic mammal meme making waves. Enter Sealana, Solana’s spin on South Park’s viral Gamer Guy, also known as Fat Computer Nerd. This all-American hillbilly seal has already raised over $3 million in a comical presale over the past month.
Gamer Guy, who first appeared in South Park’s World of Warcraft episode, has become a symbol of excessive screen use. From keyboard warriors to couch potatoes, his milk-bottle glasses, screen-locked gaze, messy room, and substantial size represent the epitome of screen addiction.
If a gold rush of Solana meme coins begins, Sealana could be the one to finally leave mom’s basement and embark on a true patriot’s quest for the American dream.
Stay updated on Sealana’s latest developments on their X account. You can buy Sealana on the official website here.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. Please be aware that you could potentially lose all of your capital.