Notcoin (NOT) crashed, trading 39.19% off from its all-time high witnessed 15 days ago at a price of $0.02896 after the digital asset was listed on the Binance.
NOT, the native token of Notcoin, the viral Telegram game that made significant waves in the digital asset space, crashed 14% in the past 24 hours, amid a sluggish crypto market as the leading currency, Bitcoin (BTC), fell below $66,000.
NOT dropped almost 14% and is trading at $0.01759 at the time of writing, printing a 5.34% decrease in the last seven days. However, altcoin is up 160.95% in the past month, making it one of the best-performing digital assets.
While the price of Notcoin (NOT) plunged, a significant surge was seen in the price of meme coins associated with The Open Network (TON), the blockchain that was recently integrated with Telegram, giving it access to the platform’s 900 million users.
The NOT token dipped from a high of $0.021 to $0.01744, witnessing a significant sell-off by its holders.
A 22.24% decline in trading volume was also seen as the token ranks at 49th position with a market capitalization of $1.81 billion. If the sellers remain in control of the price action, investors can witness the altcoin drop out of the top 50.
Additionally, Notcoin (NOT) is trading 39.19% off from its all-time high witnessed 15 days ago at a price of $0.02896 after the digital asset was listed on the world’s largest cryptocurrency by trading volume Binance.
As per TradingView, the relative strength index (RSI) for the NOT/USDT pair stands at 54.73, which confirms that the buyers are currently in charge of the NOT price trajectory.
Notably, altcoin has been in the overbought and bullish region of the RSI band since it became popular, and analysts have called for this correction previously.
Notcoin (NOT) Sees Positive Developments
As per a post on social media platform X, Notcoin (NOT) has more than 11.5 million holders, which includes those who received the tokens via the airdrop, bought them on exchanges, or won them in the form of rewards.
The claim is over 👏
A month ago Notcoin was listed and became a real community token, owned by you and people like you.
So far, Notcoin have got 11.5M holders: they've claimed tokens, staked, sent to exchanges or withdrawn onchain.
Most of the drop was distributed already,… pic.twitter.com/MyNp4h6FWB
— Notcoin Ø (@thenotcoin) June 17, 2024
Moreover, Notcoin (NOT) also confirmed via the post that those who staked for the Gold and Platinum levels of the game will get additional rewards, with more details to be revealed this week. “The more you do for Notcoin, the more you get back, as usual,” it said.
X account called @W3Vibes pointed out that the NOT price crash was a result of people claiming their tokens after a month of staking and eventually selling them. However, the X post added that the selling volume is not very high.
#Notcoin fell off from the $0.02 level and lost -13% in a few hours 📉
☑️ The reason is the people who claimed their tokens after a month of staking and sold them. I'm not concerned about it so much, according to the volume bars there are not a lot of sellers.
☑️ Previous… pic.twitter.com/n1bZXfdgOf
— Web3_Vibes (@W3Vibes) June 17, 2024
While highlighting the “impressive” previous buy volumes, the X user said that “the market will easily buy back this wave of sales”.
Another X user @Brainsofweb3 stated that the people who claimed their airdrops and sold their holdings have created a buy opportunity for investors, calling for a new all-time high.
Here's a Notcoin update: the recent people who claimed their airdrops just created an opportunity for you to buy more.
No more paper hands; after this, it's smooth sailing.
Now, eat the dip and let's send it to another ATH.
— Brains (@Brainsofweb3) June 17, 2024
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