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Notcoin's price had a strong start to the month, reaching a record high of $0.02935, which gave it a market cap of over $3.4 billion. This represented a 400% increase from its lowest point in May and propelled Notcoin to become the 47th largest cryptocurrency in the world. Notcoin's market cap surpassed that of VeChain, Floki, Injective, Fantom, and Celestia (TIA).
Notcoin’s volume surges
Notcoin, the largest platform in the Toncoin network, has emerged as one of the most popular cryptocurrencies globally. This surge in popularity occurred as traders took advantage of price declines, leading to a significant increase in the number of platform users.
According to CoinGecko data, the token's trading volume in the last 24 hours rose to over $4.68 billion on Monday, marking the highest volume recorded. This was a substantial increase from the $1.4 billion volume the day before and the $827 million volume on Friday.
Launched earlier this year, Notcoin has already amassed over 35 million users from across the globe. Its user-friendly Telegram application allows users to earn the $NOT token by participating in simple games. Notably, it has also contributed to the emergence of a new market for play-to-earn games. For instance, Tapswap, mentioned in a previous article in May, has also gained significant traction as a Telegram app with over 40 million users worldwide.
Notcoin has become a pioneering cryptocurrency in the Toncoin network, following the trend of other disruptive cryptocurrencies such as Shiba Inu (on Ethereum), Bonk (on Solana), and Brett (on Base).
Looking ahead, the next significant driver for the Notcoin price will be the performance of meme assets on Monday, especially after Roaring Kitty declared ownership of GameStop shares worth millions of dollars. Additionally, market reactions to the European Central Bank (ECB) decision on Thursday and the US nonfarm payrolls (NFP) data on Friday will also impact Notcoin's price.
Notcoin price forecast
The hourly chart shows that the NOT price bottomed at $0.0045 shortly after its airdrop happened in May. It then staged a strong comeback, beating popular cryptocurrencies like Bitcoin, Ethereum, and Solana.
The token surged to a record high of $0.02935 on Friday and then pulled back to $0.0204 on Saturday. It has now bounced back and moved slightly above the 50-period Exponential Moving Average (EMA).
The MACD and other oscillators have also pointed upwards. Therefore, the NOT token will likely continue rising this week as buyers target the psychological $0.030 level.
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