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- NOT prices have risen by 9.91% in the last 24 hours.
- The Notcoin team announced the burning of $3 million in non-token tokens.
In recent weeks, the cryptocurrency community has witnessed massive volatility, with Bitcoin hitting a one-month low to trade at $60,000.
However, many tokens are starting to recover, and Not a currency [NOT] Saw big gains. Amidst the current gains, the Notcoin team is letting everyone talk about the new updates.
On social media platform X, @thenotcoin Share that,
Notcoin tokens are now very community oriented. Notcoin worth $3 million just burned from emissions. $4.2 million will be allocated as an incentive for gold and platinum users to explore Notcoin.
The team added that.
“As a result, 94.18% is in the hands of 11.5 million people, including traders, miners, stakeholders, etc. And 5.82% is in the treasury for the coming development years. With the community being the main stakeholder, the future looks bright.”
Finally, the NOTcoin The team amazed the community by saying:
“$2.5 billion for the Notcoin community,”
While replying to user X @trader_tgThe Notcoin team stated that,
“Notcoin’s airdrop is larger than ZkSync and LayerZero combined.”
This update certainly puts Notcoin in a positive place, with greater opportunities to change market sentiment and influence price movements.
Fundamental analysis doesn’t tell us…
At press time, NOT was trading at $0.01572 after rising 9.91% over the past 24 hours. According to Coinmarketcap, TON’s market capitalization increased by 9.65% to reach $1.6 billion.
Source: TradingView
AMBCrypto analysis showed that NOT looks bullish. Looking at the simple moving average, the current simple moving average of NOT is below the price on the daily charts.
When prices are above the simple moving average (SMA), buyers dominate as demand for assets increases, resulting in higher buying pressure. High buying pressure causes prices to rise, as positive market sentiment shows.
Source: TradingView
Likewise, the RSI of 51 is only slightly above the neutral zone. An RSI in the neutral zone above indicates that the market is facing increasing buying pressure.
In this case, NOT’s RSI has shifted from 44 to 51 over the past 24 hours. The upward movement of the RSI shows that the market sentiment is turning to the upside.
Source: Coinglas
Looking further, Coinglass data analysis showed that Notcoin’s open interest rose from $146 million to $171 million over the past 24 hours.
The increase in open interest shows that new contracts are being opened; therefore, more money is flowing into the market. The increased participation shows that the market is well positioned for a strong and sustainable trend.
Source: Coinglas
Finally, Notcoin liquidation data showed market stability over the past 24 hours. During this period, NOT saw liquidations worth US$410k in long positions and US$322k in short positions.
However, on the 25th of this month, the Notcoin market saw a short squeeze following rapid price spikes, as short buyers increased buying pressure.
Realistic or not, here it is NOT market value in terms of SOL
Is Notcoin ready for an uptrend?
It does not look bullish after retesting the support level around $0.0141. If the positive sentiment continues and does not close above $0.0161, NOT could reach a high of $0.0208 and a low of $0.018 in the short term.
