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Cryptocurrency News Articles
Notcoin (NOT) Whales Accumulate Ahead of Anticipated Recovery, Token Price Surges 11%
Oct 21, 2024 at 06:20 pm
There is a growing suspicion of whale accumulation of Notcoin (NOT), the native crypto of a Telegram-based game that allows players to earn tokens
Telegram-based game crypto Notcoin (NOT) is seeing a whale accumulation that might be boosting its token price.
According to IntoTheBlock, the number of whales holding NOT has increased over the past month, especially last week. This accumulation might be a sign of optimism for NOT’s future prospects.
Moreover, NOT’s price has surged over 11% in the past month, rising from $0.0076 to $0.0085, sparking hopes for a recovery after a significant pullback.
Notcoin (NOT) Leves Support at $0.0069, Eyes Resistance at $0.0106
Notcoin runs on the TON (Telegram Open Network) blockchain, a protocol renowned for its high transaction throughput and security features. NOT became available for trading in mid-May 2024 and surged over 2,800% in less than one month.
Analysts attributed NOT’s rapid rise to high adoption, with over 35 million users participating in the project’s token redemption exercise when it launched in May.
Notcoin’s market cap reached $2.56 billion in the early weeks before falling back. CoinmarketCap data shows this value has dropped to $855.6 million at the time of writing. However, the chart pattern suggests the pullback may be finding a bottom.
Notcoin’s initial price rally took the in-game asset to an all-time high of $0.0293 before retracing. According to TradingView data, the cryptocurrency was trading at $0.00833 at the time of writing, down 71% from its all-time high.
Given IntoTheBlock’s observation and Notcoin’s recent price activity, users are optimistic about NOT’s future. The latest rally began after multiple retests of the support level around $0.069. Analysts expect NOT to break above resistance at $0.0106 to confirm a trend reversal and initiate a significant uptrend.
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