Notcoin (NOT) Price Explodes 320% in One Week, Hits New All-Time High — Can the NOT Token Continue Its Parabolic Rise Due to Social Hype?

Notcoin's (NOT) price rose over 300% over the past week to reach a new all-time high. Can the NOT token continue its parabolic rise due to social hype?

Notcoin (NOT) price surged over 323% during the past week, reaching a new all-time high of $0.02896 on June 2, according to TradingView data.

The token’s price started to rapidly increase following the listing of Notcoin on the Bybit exchange for trading on May 16. Over the past two and a half weeks since it was listed, NOT rose over 200%.

After the latest rally, Notcoin reached a $2.3 billion market capitalization, becoming the 51st largest cryptocurrency tracked by CoinMarketCap.

According to Justin Hyun, director of investments at TON Foundation, Notcoin and other Telegram Mini Apps will serve as a “Trojan horse” for mass blockchain adoption that could onboard the next 500 million crypto users.

“This is a once-in-a-lifetime opportunity to onboard the next 500 million users into crypto. We have the Mini Apps, the infrastructure, the TON blockchain and the community,” Hyun told Cointelegraph in an interview.

Growing retail interest via social media platforms seems to be among the main drivers of Notcoin’s rally to its all-time high.

Only two weeks after launch, Notcoin became the second-most mentioned cryptocurrency in the 12-hour timeframe, according to a June 3 X post by Alphascan:

Further showcasing the growing investor interest, Notcoin became the fifth-most traded cryptocurrency on the market, reaching over $4 billion in trading volume on June 3 — overtaking USD Coin’s (USDC) $3.5 billion trading volume, according to CoinGecko.

The growing social sentiment around Notcoin has also attracted more large investors, or whales, to the Telegram ecosystem, namely for Toncoin (TON), according to crypto analyst Ali Martinez.

Martinez wrote in a June 3 X post to his 63,400 followers:

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.