Notcoin (NOT) Extends Weekly Rally to Over 350% Hitting New All-Time High

Telegram-based cryptocurrency Notcoin (NOT) has delivered a one-sided rally extending its weekly gains to more than 350%. While the broader cryptocurrency market consolidated over the weekend, the Notcoin (NOT) price surged by an additional 40% on Sunday hitting its all-time high of $0.027. As of press time, NOT is trading at $0.02373 with a market cap of $2.439 billion.

Notcoin Daily Transaction Volumes Skyrocket

In the recent rally, Notcoin’s daily transaction volume has skyrocketed by 220% moving all the way past $4.5 billion making it the fourth-highest treated cryptocurrency currently in the market.

Analysts attribute the surge in Notcoin’s value to its successful integration with Telegram’s extensive user base. Although the recent airdrop was initially met with lukewarm reception, it has since experienced a positive turnaround, reflected in the token’s price increase.

The notable growth in Notcoin network transactions aligns with its rising popularity. The platform allows users to earn NOT tokens through simple games and task completion. Recently, Notcoin introduced “earnings missions,” which enable passive token accumulation, further boosting user engagement.

With its straightforward gameplay and social media integration, Notcoin is well-positioned to capitalize on the growing play-to-earn trend. Market analysts believe that the Notcoin price could be eyeing potential gains to $0.1.

Whale Activity Surges

On-chain data provider Lookonchain has reported a significant surge in the price of Notcoin ($NOT), which has risen by more than 400% in the past seven days.

Lookonchain highlighted that a notable investor, referred to as a whale, has an unrealized profit of $862,000 on $NOT. This investor spent 50,550 $TON ($278,000) to purchase 46.4 billion $wNOT before $NOT was listed.

Each 1,000 $wNOT can be exchanged for 1 $NOT. On May 21, the whale converted all 46.4 billion $wNOT into 46.4 million $NOT and has been holding it since, realizing a profit of approximately $862,000.

The price of #Notcoin( $NOT) has risen by more than 400% in the past 7 days.

We noticed that a whale has an unrealized profit of $862K on $NOT.

He spent 50,550 $TON($278K) to buy 46.4B $wNOT before $NOT was listed.

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1000 $wNOT can be exchanged for 1 $NOT.

On May 21, he… pic.twitter.com/Da29qniVzg

— Lookonchain (@lookonchain) June 3, 2024

As long as the craze around Telegram mini apps continues, the Notcoin bulls will continue to charge in, reaching higher price targets.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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