Why Did Notcoin Increase by 50% Today?

The cryptocurrency market has recently witnessed a spectacular rally from a name that has been attracting significant attention lately—Notcoin (NOT). Within 24 hours, NOT experienced a strong surge, with its price impressively climbing from $0.005 to its current level of $0.008, bringing Notcoin’s market capitalization close to the $1 billion mark.

After the initial supply was fully unlocked, resulting in an initial sell-off due to a massive 78% airdrop, the selling pressure has now significantly diminished. With the market currently in a highly active state, Notcoin has managed to recover strongly from its previous price suppression.

Additionally, many investors consider Notcoin to be similar to recent Memecoins due to several factors such as its catchy and simple name, a large and supportive user base, and the complete unlocking of all tokens.

Related: Binance Announces Listing of Notcoin (NOT) on Launchpool

Current Notcoin Price

Notcoin is a game that allows users to earn profits for free through the “Tap to Earn” mechanism on the Telegram messaging app. Since its launch in January 2024, Notcoin has attracted over 35 million users, with the number of daily active players peaking at around 6 million.

Source: Coinmarketcap

At approximately 1:40 AM (UTC) on May 28, 2024, Notcoin was trading around $0.008, marking a 50% increase in the past 24 hours. The market capitalization reached $817 million, with a trading volume of $950 million.