Popular play-to-earn token Notcoin (NOT) continued to attract investor attention over the past week thanks to its stunningly positive market performance. According to data from CoinMarketCapNotcoin gained 46.97% in the last day, becoming the best-performing asset on the market.
Notcoin sees weekly gains of 238%
With the overall cryptocurrency market showing steady price movement, Notcoin’s explosive performance, which indicates high levels of buying pressure, has come into the spotlight among viewers, analysts, and potential investors.
The crypto gaming project was initially launched as a closed beta in November 2023 by Open Builders and supported by the Open Network Foundation (TON). After its official launch in January 2024, Notcoin quickly attracted a lot of attention, registering millions of users thanks to its simplified gameplay and strategic integration with the social media app Telegram.
In this play to earn game, players do NOT earn coins by continuously tapping the virtual gold coin and completing basic tasks. However, Notcoin recently introduced a novel feature known as “earnings missions” that allows users to passively accumulate NOT tokens.
The NOT token was officially issued on May 16 and has since shown both sides of the cryptocurrency market volatility. Following this release, Notcoin initially dropped over 60%, falling from $0.012 to just $0.0050.
However, in the last week, the token showed a remarkable performance boost of 237.70%, reaching an all-time high of $0.01781. Notably, Notcoin’s market value also increased from $526.77 million to approximately $1.81 billion, which catapulted the token into the top sixty cryptocurrencies.
What’s next for Notcoin?
At press time, NOT is trading at $0.01735 following a 155.57% boost in daily trading volume based on data from CoinMarketCap.
According to Coincodex predictionssentiment around Notcoin is very bullish, with a fear-greed index of 72. Coincodex predicts that in a situation where bulls maintain control of the market, the value of the play-to-earn token will boost to USD 0.021 and USD 0.054 in five and thirty days respectively .
However, on the token’s 4-hour trading chart, the Relative Strength Index (RSI) is well within the overbought zone, indicating that a trend reversal may be on the horizon and the current bull trend may end soon.
Nevertheless, Notcoin’s future trajectory remains uncertain and will likely be influenced by future network development/features and the project’s ability to retain its growing customer base. All investors are advised to conduct appropriate research before investing in any asset as the cryptocurrency market continues to experience high levels of volatility.
Featured image from iStock, chart from Tradingview
