Notcoin this week has defied the general market dump by recording an 87.81% increase in price value in just three days. The Notcoin token shot into the limelight after the Notcoin project launched as one of the very first telegram-based crypto projects under the play-to-earn category.
Notcoin which is currently the 57th top crypto asset according to CoinGecko data witnessed its price jump from $0.00912 to $0.1699.
However, the crypto asset faced resistance at this level and dropped by 20%. A further decline was prevented by 100 exponential moving average.
Notcoin at the moment is trading at $0.01605 and is facing new resistance at this level too.
Notcoin’s growth metrics and milestones
The surge in price value by Notcoin is powered by certain factors exclusive to its community. The project has witnessed significant community growth and has crossed key milestones in its journey hence the boost in price.
Notcoin’s official X account on July 5th announced that the ecosystem is now home to over 200 projects and the project has attracted over 22.5 million users.
Notcoin remains one of the first crypto projects to leverage the play-to-earn model and has succeeded in building a community of over 40 million players with the ecosystem hosting many Web 3 projects rewarding users for participation.
Notcoin has been going strong in the area of partnership as well. The Web 3 project recently launched a Telegram gaming accelerator in partnership with Helika Gaming to boost its already growing ecosystem.
Notcoin despite experiencing a 55% drop in trading volume still maintains a healthy market capitalization of $496 million. The crypto asset has an all-time high of $0.0292 which it hit on June 2nd. The token is currently down 45% from its all-time high (ATH).
A technical analysis of Notcoin on the chart predicts a potential price drop for Notcoin but experts think otherwise. Experts following the crypto asset argue that Notcoin’s dip from its all-time high is a result of the overall bearish sentiment in the market and not due to any flaw or shortcoming in the Notcoin project.
Experts believe that Notcoin’s recent surge is backed by the efforts of its community and ongoing project development within its ecosystem. Notcoin which witnessed a 500% surge in May is beginning to show signs of reliving that surge again with its current performance signaling a promising future.
What to know
- Notcoin is quite popular for its very successful airdrop which paved the way for other telegram-based Crypto projects like Tapswap, Hamster Kombat, and Blum.
- Notcoin is currently the 57th top crypto asset on the list based on Market capitalization. The Notcoin airdrop campaign was one of its biggest achievements given the difficulties other crypto projects in the same category are facing at the moment.
- A resistance level in crypto trading is a price point on a chart where an upward price trend is expected to stall due to a concentration of sellers. It’s a point that acts as a ceiling for cryptocurrency prices and is often a level where the price struggles to break through and tends to pull back.
