Analyst Explains Why Notcoin Price Is Up 6x in Just 10 Days: Reveals What’s Next for NOT in Q3 and Q4 2024
Notcoin (NOT) has been one of the standout performers in the cryptocurrency market lately, seeing its price surge by over 6x in just a 10-day period according to a post by Crypto Koryo. This massive rally has propelled NOT into the top 100 cryptocurrencies by market capitalization, currently ranking 53.
So what exactly is Notcoin and what’s driving this parabolic price move? Let’s take a closer look based on Crypto Koryo’s analysis:
Notcoin is a cryptocurrency built on the TON (Telegram Open Network) blockchain, formerly associated with the messaging app Telegram. While initially created as a type of “memecoin” with a gaming component, Notcoin has some unique attributes that may be fueling its recent success according to Crypto Koryo.
Read More: Top 6 Cryptocurrencies Set to Surge in 2024 as Ethereum (ETH) Approaches a New All-Time High
What you'll learn 👉
A Few Key Factors Behind NOT’s Rally:
- Fixed Supply With No Unlocks or VC Investors
Notcoin’s circulating supply is equal to its total supply, with no tokens unlocking over time. This, combined with no VC investor allocation, means there is no extra selling pressure coming from early investors/insiders. - Token Burn and Staking Programs
NOT has built-in burn and staking mechanisms that reduce the circulating supply over time. Tokens can be staked on exchanges like Binance, via wallets, or by participating in a Web3 gaming project, aligning incentives. - Airdrop to Community
A staggering 80% of the NOT token supply (worth around $450M at current prices) was airdropped to the community, demonstrating the project’s commitment to fair distribution according to Crypto Koryo. - Association with TON Ecosystem
As Notcoin is closely tied to the growing TON blockchain ecosystem built by Telegram’s founders, it could serve as a leading asset and “beta” for TON’s still nascent DeFi landscape.
The convergence of these factors – fair distribution, economic incentives like burning/staking, and potential to lead TON’s DeFi efforts – may be creating a “Lollapalooza effect” of compounding growth for Notcoin according to Crypto Koryo’s analysis.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +What’s Next for Notcoin?
With the TON blockchain continuing to gain traction and the NOT tokenomics continuously decreasing supply, Crypto Koryo sees further upside potential for Notcoin in Q3 and Q4 of this year. However, as is the case with any cryptocurrency, investors should do their own research, assess the risks, and invest cautiously.
Overall, Notcoin’s unique economics, community-driven distribution, and positioning in the growing TON ecosystem appear to be the key drivers behind its explosive growth of late according to Crypto Koryo. But only time will tell if this momentum can be sustained long-term.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
