Will Notcoin Reach 1 in 2024 Price Analysis
Despite the weakness in Bitcoin and other large-cap altcoins, the Notcoin price is displaying significant bullish momentum.
$NOT experienced a pullback at the beginning of the week due to escalating macroeconomic risks putting pressure on the broader cryptocurrency market. However, after hitting a low point at $0.015 on Tuesday, the Notcoin price surged by almost 40% to reach $0.21 by Friday.
Currently valued at $0.020, with a market capitalization just under $2 billion, Notcoin ranks as the 49th largest cryptocurrency on CoinMarketCap.
Notcoin is the native cryptocurrency of the TON (Telegram Open Network) blockchain, established by the founders of Telegram. TON’s integration with the Telegram messaging app and its high scalability have made it a popular Layer-1 network in the Web3 industry. Some experts even believe it could be the ideal solution for mainstream crypto adoption.
The daily increase in active addresses on TON has surpassed Ethereum’s numbers in June, although falling behind Solana. TON’s daily active addresses have consistently exceeded Ethereum’s figures this month, leading some to speculate that TON could catch up to Solana in terms of market cap.
TON currently boasts a total-value-locked (TVL) of nearly $600 million, with the USDT pool alone securing over $450 million in just over two months.
The rising popularity of the TON blockchain has had a positive impact on $NOT. However, experts are particularly bullish on Notcoin due to its play-to-earn functionality. Initially launched as an easy-to-play game on Telegram, Notcoin allows players to earn cryptocurrency by simply tapping on the screen. This feature has driven a surge in popularity and a significant increase in NOT’s price.
Despite the ongoing crypto crash, Notcoin has shown resilience, gaining over 36% in the past month while many other altcoins, including Ethereum, have struggled. Notably, Notcoin’s correlation with Bitcoin has decreased significantly, indicating that it is less affected by BTC’s movements or market sentiment.
The current price of $NOT is consolidating below the $0.020 resistance level. A breakout above this could trigger another substantial upward movement towards new highs.
Looking ahead, Notcoin could emerge as one of the top-performing cryptocurrencies in the current bull cycle. While reaching a $1 price target may be challenging this time due to the required $100 billion market capitalization, $NOT is well-positioned to achieve a new all-time high of $0.50.
PlayDoge, a new GameFi meme coin, has raised close to $5 million in its presale in just over two weeks. Combining the iconic Doge character with the nostalgia of Tamagotchi, PlayDoge offers an engaging virtual pet management game that rewards players with free crypto. Gamers can interact with their virtual pet through a smartphone app, training, feeding, and playing with it to earn $PLAY tokens. High-ranking players on the leaderboard can also earn bonus rewards, while staking offers a passive income opportunity with an APY of over 180%.
With its successful presale figures, PlayDoge is being touted as the next 100x meme coin, tapping into the high potential of the play-to-earn sector and the demand for meme coins in the current market climate.
