This past week, a relatively new cryptocurrency has made an impressive surge, drawing the attention of both investors and analysts. We're talking about Notcoin (NOT), a digital coin that shot up nearly 300% in value within a week and is now among the top 60 largest cryptocurrencies.
What is Notcoin?
Notcoin started as a simple way to earn digital currency through a game integrated into the Telegram app. Users could collect Notcoins by simply clicking on an animated coin in the chat interface. The game, launched on January 1, 2024, quickly gained popularity thanks to its accessible design and support from The Open Network (TON) Foundation. The coin is now listed on major exchanges like Binance.
Notcoin Rises Nearly 300% in a Week
The price of NOT has seen a significant increase this past week, especially in the last few days. At the time of writing, NOT has reached a new all-time high of $0.0207. This follows a rise of nearly 60% in the past 24 hours and almost 300% over the past seven days.
With this increase, the relatively new coin has now achieved a market capitalization of over $2 billion. This places it at the 56th position among the largest cryptocurrencies, comparable to coins like Thorchain (RUNE) and Theta (THETA), and just below coins like Celestia (TIA), Lido (LIDO), Fantom (FTM), and Bonk (BONK).
The strong rise is attributed to various factors, including its recent listing on Binance. NOT currently ranks high in trading volume on exchanges like Binance, OKX, and Bybit.
Are the Expectations for NOT Realistic?
The strong price rise has also significantly raised expectations. Enthusiastic supporters are speculating about a possible rise to $1. However, this would mean an increase of nearly 5,000% from the current all-time high, resulting in a market capitalization of $100 billion, which would make it the fourth largest coin on the market.
While this prediction is ambitious, it's important to recognize that new coins often experience significant corrections and drops after a sudden rise. This is, of course, not financial advice.
