The popular play-for-profit token Notcoin (NOT) has continued to attract investors' attention over the past week with an amazingly positive performance in the market. according to Data from CoinMarketCapNotcoin rose 46.97% in the last day to emerge as the best performing asset in the market.
Related reading
Notcoin records weekly gains of 238%
With the overall cryptocurrency market showing stable price action, Notcoin's explosive performance indicating a high level of buying pressure has taken center stage among onlookers, analysts, and potential investors.
The cryptocurrency gaming project was initially offered as a closed beta in November 2023 by Open Builders and supported by the Open Network (TON) Foundation. After officially launching in January 2024, Notcoin quickly attracted a lot of attention, registering millions of users due to its streamlined gameplay and strategic integration with the social media app Telegram.
In this play-to-win game, players earn coins by continuously tapping a virtual gold coin and performing simple tasks. However, recently, Notcoin introduced a new feature known as “Earning Tasks” which allows users to passively stack NOT tokens.
The NOT token was officially launched on May 16 and has since shown both sides of the cryptocurrency market's volatility. After this release, Notcoin initially fell by more than 60% from $0.012 to $0.0050.
However, last week, the coin delivered an impressive 237.70% performance to reach an all-time high value of $0.01781. Notably, Notcoin's market capitalization also increased from $526.77 million to approximately $1.81 billion, pushing the token into the top sixty cryptocurrencies.
Related reading
What's next for Notcoin?
At press time, NOT coin is trading at $0.01735 after daily trading volume rose 155.57% per data from CoinMarketCap.
according to Prediction by CoincodexHowever, sentiment around Notcoin is very bullish with a Fear and Greed Index of 72. With the bulls maintaining control of the market, Coincodex expects the play-for-profit token to rise to $0.021 and $0.054 in thirty-five days respectively.
However, on the 4-hour trading chart, the Relative Strength Index (RSI) is in the overbought zone indicating that a trend reversal may be on the horizon and the current uptrend may end soon.
However, Notcoin's future path remains uncertain and will likely be affected by future network developments/features and the project's ability to retain its growing customer base. All investors are advised to conduct appropriate research before investing in any asset as the cryptocurrency market remains subject to high levels of volatility.
Featured image from iStock, chart from Tradingview