As a seasoned crypto investor with a keen eye on market trends, I’ve seen my fair share of bull and bear markets. The recent performance of Notcoin (NOT) has left me feeling a mix of disappointment and intrigue.
Despite the bullish announcement for Notcoin (NOT), a meme coin and clicker game on Telegram that operates on the TON blockchain, it has unfortunately taken the title of the greatest loser amongst the top 100 cryptocurrencies.
The value of NOT has decreased by 15% over the last 24 hours and is priced at $0.016 as of now. Its market capitalization is presently around $1.64 billion, positioning it as the 58th largest cryptocurrency.
Moreover, Notcoin’s daily trading volume also declined by 14%, reaching the $700 million mark.
Based on a recent declaration on X, it’s been revealed that the proprietor of the Notcoin smart contract has relinquished control over it. Several individuals in the same X forum have expressed optimistic views regarding NOT, referring to it as a “community token.”
Notcoin has no owner.
No new supply can be added.
— Notcoin Ø (@thenotcoin) June 10, 2024
As a analyst, I would put it this way: Based on the information provided in the X post, no new Notcoins can be added to its current circulating and total supply at this time. Consequently, the total supply of Notcoins is fixed at 102,701,033,769 units.
As a crypto investor, I’ve noticed that the total open interest for NOT has decreased from $67.6 million to $63.4 million within the last 24 hours based on Santiment’s data. Simultaneously, there were approximately $4 million in liquidations reported by Coinglass.
In the last two days, the overall funding rate as monitored by NOT has hovered around 0.01%. This figure indicates that long-position investors remain more active than their short-position counterparts, even amidst a price decline.
The RSI reading for the data from the market intelligence platform dropped significantly, decreasing from a high of 96 on June 2 (when the token hit its all-time peak of $0.028) to 74 as of the current report.
As a crypto investor, I’ve noticed that the buzz surrounding NOT has been consistently waning, yet the token remains overbought according to the indicator.
As a crypto investor, I’ve noticed that the open interest and RSI for Notcoin have been decreasing lately. This trend could potentially lead to reduced price volatility for Notcoin in the near term.
On the 10th of June, there was a significant 12% increase in value for the token operating on the TON blockchain, following the announcement of fresh incentives and a noteworthy expansion in its community of users.
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2024-06-11 11:52