Analysis of Notcoin Price Will NOT Reach 1 by 2024
The price of Notcoin is displaying strong bullish momentum, despite the weakness seen in Bitcoin and other major altcoins.
Starting the week with a pullback due to increasing macroeconomic risks putting pressure on the overall cryptocurrency market, Notcoin experienced a significant drop, hitting a low of $0.015 on Tuesday. However, since then, the price of Notcoin has surged nearly 40%, reaching $0.21 by Friday.
Currently trading at $0.020, Notcoin has a market capitalization of just under $2 billion, making it the 49th largest cryptocurrency listed on CoinMarketCap.
Experts are optimistic about Notcoin for several reasons. Notcoin serves as the native cryptocurrency of the TON (Telegram Open Network) blockchain, developed by the founders of Telegram. With TON’s integration with the Telegram messaging app and its high scalability, the blockchain is quickly gaining popularity in the Web3 industry, with some experts touting it as the ideal solution for mainstream crypto adoption.
Additionally, TON has shown impressive growth in active addresses, outperforming Ethereum in June. While still trailing behind Solana, TON has consistently surpassed Ethereum in daily active addresses this month, leading some to believe it could narrow the gap in market capitalization with Solana.
Furthermore, TON has a total-value-locked (TVL) close to $600 million, with its USDT pool holding over $450 million in just over two months.
The rising popularity of the TON blockchain has had a positive impact on the value of Notcoin. However, it is Notcoin’s play-to-earn functionality that has experts excited about its potential for further growth.
Originally launched as a user-friendly game on Telegram, Notcoin allows players to earn cryptocurrency by simply tapping on the screen. The game quickly gained popularity, resulting in a significant increase in the price of NOT.
While reaching a $1 price target in 2024 may be ambitious, given the market capitalization required, Notcoin has shown resilience during the recent crypto market downturn. While many altcoins, including Ethereum, have struggled, Notcoin has remained strong and even increased by over 36% in the past month.
Notably, Notcoin’s correlation with Bitcoin has decreased significantly, indicating that the token is less affected by Bitcoin’s price movements or overall market sentiment.
Currently consolidating below the $0.020 resistance level, a breakout above this point could trigger a substantial upward movement for Notcoin, potentially reaching new all-time highs.
Looking ahead, Notcoin could emerge as one of the top-performing cryptocurrencies in the current bull cycle. While a $1 price target may be out of reach, a new all-time high of $0.50 seems feasible.
In a similar vein, the success of Notcoin has highlighted the potential of the play-to-earn sector, especially when games are user-friendly and appeal to a broad audience. A new GameFi meme coin, PlayDoge ($PLAY), has garnered significant interest, raising nearly $5 million in its presale in just over two weeks.
Combining the iconic Doge character with the nostalgia of Tamagotchi, PlayDoge offers a virtual pet management game that rewards players with free cryptocurrency. Players can interact with their virtual pet through a smartphone app, engaging in various activities to earn $PLAY tokens. Additionally, players can participate in classic 2D games to earn additional $PLAY rewards.
With a focus on GameFi and meme coins, PlayDoge has the potential to be the next 100x meme coin, given its strong presale performance.
For more information on the PlayDoge presale, visit their website.