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Notcoin (NOT) surged 28.6% in 24 hours, reaching $0.011, amid a market-wide downturn, cementing its resilience and market confidence.
Notcoin (NOT) Maintains Robust Performance with $1.23B Market Cap Despite Market Challenges and Volume Dip
With a market capitalization of $1.23 billion, NOT stands firm as the 72nd most significant cryptocurrency. Despite a 4% dip in daily trading volume, which now stands at $1.14 billion, NOT's performance remains robust, instilling a strong sense of confidence in its stability.
According to the information furnished by Santiment (via Crypto News), the NOT Relative Strength Index (RSI) is currently positioned near the 83-point threshold; at this time, the indicator indicates that Notcoin is overbought, and whale price manipulation is also possible.
NOT sustain its upward price trajectory, its RSI must dip below the 50 level.
Notably, the market has transitioned into a consolidation phase marked by range-bound fluctuations as Bitcoin (BTC) grapples with upholding its price above the $68,000 threshold. This market uncertainty has led to significant price drops in crypto assets like Shiba Inu (SHIB) and Pepe (PEPE), posing a challenge for NOT.
The latest rally in NOT occurred shortly after the price of the cryptocurrency asset plummeted due to massive selloffs by airdrop recipients seeking to cash in their allocations. Crypto News reports that on May 16, the Notcoin team airdropped eighty billion tokens, culminating in the coin's launch.
Despite Initial Setbacks Post-Launch, Notcoin (NOT) Recovers with a 58% Surge on May 28
Upon its inception, NOT secured listings on prominent cryptocurrency exchanges, including Binance, Bybit, and MEXC. Nevertheless, this proved to be its undoing, as airdrop recipients could liquidate their holdings via liquid venues, resulting in a 55% decline in the token shortly after its debut.
Despite the bears maintaining a downtrend for over a week, NOT demonstrate their potential for recovery, hitting a low of $0.004583 on May 24. This floor price acted as a catalyst for NOT's subsequent recovery drive, hinting at promising days ahead and fostering a reassuring sense of hope in its prospects.
Notcoin made a significant leap on May 28, surging 58% to re-enter the $0.01 price range after a community poll in which advocates favored it over Bitcoin. This achievement not only underscores the potential of NOT but also instills a strong sense of optimism about its future performance.
Photo: Microsoft Bing
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