Notcoin (NOT), a cryptocurrency associated with a Telegram game, has taken the market by storm with a staggering 10% price increase in the past day. This surge propelled NOT above the $0.0215 mark, hinting at a potential bull run on the horizon.
Currently priced at $0.02078, NOT boasts a market cap of $2.1 billion and a 208% spike in trading volume, reaching a hefty $4.5 billion within 24 hours. While the circulating supply remains at 102.7 billion, the total supply has been surpassed, achieving a remarkable 195%.
A Week of Meteoric Rise
Looking beyond the past day, Notcoin’s trajectory over the past week is even more impressive. The altcoin has skyrocketed by over 300%, reflecting a surge in investor interest and a flurry of market activity. Previously trading within a range of $0.0049 to $0.014, NOT’s recent performance positions it as one of the fastest-growing assets in the cryptocurrency market, even surpassing its own all-time high by approximately 19%.
Also Read: Notcoin Stages Dramatic Rebound After Early Slump, Surging Over 300%
Bybit Reshuffles Leadership After Notcoin Launch
The launch of Notcoin has had a significant impact beyond its own price chart. Bybit, a leading cryptocurrency exchange, has implemented significant leadership changes and a compensation plan in response to issues surrounding the altcoin. Several executives have stepped down, and Bybit is actively seeking new technical and spot managers to navigate the situation and stabilize operations.
To regain user trust and market confidence, Bybit has announced a series of measures including a 30 MNT airdrop, a $50 trading bonus, and a three-month VIP +1 status upgrade for all users. Existing VIP members can expect additional compensation of up to $500 based on their membership tier.
Technical Indicators Signal Bullish Momentum
Technical indicators for NOT paint a bullish picture, suggesting the cryptocurrency could be on the cusp of a prolonged upward trend. If the current momentum holds, a break above the $0.013 resistance level seems likely.
This sustained rise could potentially propel NOT towards the $0.019 mark, with further projections aiming for a potential reach of $0.02 in the near future. An even more optimistic scenario, fueled by strong bullish pressure, suggests a possibility of reaching $0.1 during the next major bull run within the broader cryptocurrency market.
However, it’s crucial to acknowledge potential risks. A shift in market sentiment could lead NOT to find support around the $0.012 level. In a bearish scenario, the price could fall to $0.011, and further downward pressure might even push it towards the $0.01 support level.
Looking closer at the 4-hour timeframe, several indicators reinforce the bullish outlook. The Awesome Oscillator (AO) displays a positive value, signifying bullish momentum. The MACD chart also highlights a bullish crossover, with the MACD line positioned above the signal line. Additionally, the Chaikin Money Flow (CMF) suggests a positive capital inflow, and the RSI indicates that NOT is currently in overbought territory.
Notcoin’s future remains to be seen, but its recent surge and bullish technical indicators make it a cryptocurrency worth watching closely.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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