The Notcoin price is showing significant bullish strength, despite the weakness in Bitcoin and other large-cap altcoins.
$NOT witnessed a pullback to start the week as rising macroeconomic risks created significant selling pressure on the broader cryptocurrency market. However, since hitting a local bottom at $0.015 on Tuesday, the Notcoin price rallied close to 40% to trade at $0.21 on Friday.
It is currently priced at $0.020, with a market capitalization of just under $2 billion, making it the 49th largest cryptocurrency on CoinMarketCap.
Why Experts are Bullish on Notcoin?
Notcoin is the native cryptocurrency of the TON (Telegram Open Network) blockchain, which has been created by the founders of Telegram.
Owing to the blockchain’s integration with the Telegram messaging app, along with its high scalability, TON is quickly becoming one of the most popular Layer-1 networks in the Web3 industry. In fact, a few experts are calling it the perfect solution for mainstream crypto adoption.
For instance, TON’s daily increase in active addresses has outperformed that of Ethereum so far in June.
Similarly, TON already has a TVL (total-value-locked) close to $600 million, with its USDT pool now holding over $450 million in just over two months.
The blockchain’s growing popularity has provided a massive boost to $NOT. However, it is Notcoin’s play-to-earn utility that has made experts extremely bullish on its upside potential.
Notcoin was initially launched as a beginner-friendly game on Telegram, in which players could earn free crypto for simply tapping on the screen. It quickly saw a massive surge in its popularity, resulting in a significant growth in NOT’s price.
Can the Notcoin Price Reach $1 in 2024?
Notcoin’s resilience during this crypto crash has not gone unnoticed. During a period when most altcoins – including Ethereum – are showing extreme weakness, $NOT has held strong and has even surged by over 36% in the past month.
More importantly, Notcoin’s correlation with Bitcoin has seen a significant reduction. This means that the token won’t be negatively affected by BTC’s bearish trajectory or by the broader market sentiment.
The $NOT price is currently consolidating under the $0.020 resistance. A breakout above it could trigger another major upside move and a push towards new highs.
In the long term, Notcoin could emerge as one of the top-performing cryptocurrencies during this bull cycle. While a $1 price target could be out of reach this time around – considering it would require a market capitalization of $100 billion – $NOT remains poised to reach a new all-time high of $0.50.
Could PlayDoge Be The Next 100x Meme Coin?
Notcoin’s success signals the high potential of the play-to-earn sector, especially if the games are beginner-friendly and can connect with the masses.
In the same vein, a new GameFi meme coin – PlayDoge ($PLAY) – has raised close to $5 million in its presale in just over two weeks.
PlayDoge combines the iconic Doge character with the 90’s nostalgia of Tamagotchi, creating an engaging virtual pet management game that also offers free crypto. Similar to Tamagotchi, players can own Doge as their pet and engage with it through a smartphone application.
They need to train, feed and play with their pet or watch it die or run away to another house. More importantly, players can complete a series of classic 2D games – similar to 8-bit sidescrollers – and earn free crypto in the form of additional $PLAY tokens.
Gamers that rank high on the leaderboard will also earn bonus $PLAY rewards. Alternatively, investors can simply stake their holdings and earn passive income, currently at an APY of over 180%.
PlayDoge sits at the confluence of two of the most in-demand sectors in this bull market – GameFi and meme coins. Considering its already impressive presale figures, a few experts are calling PlayDoge the next 100x meme coin.
Visit PlayDoge Presale
