The Notcoin rate soared by 59% in a day and continues to grow
Date: 2024-05-28 Author: Gabriel Deangelo Categories: BUSINESS
In the last 24 hours, the Notcoin (NOT) cryptocurrency has shown impressive growth, increasing by 59%. This trend, according to the famous trader Zen, will continue to develop in the near future.
Price rise after listing
On May 16, after Notcoin was listed on various cryptocurrency exchanges, many airdrop participants began selling their tokens en masse. This resulted in a significant dump that saw the coin price more than halve in a matter of hours. However, on May 25, a bullish trend emerged in the market, which continued on Monday. On the Binance exchange, the NOT rate reached $0.0089, which was a significant step forward.
Forecasts and prospects
Trader Zen predicted continued growth in the rate if buyers managed to break through the resistance level at $0.0068. This level was successfully overcome, which strengthened the position of the bulls and laid the foundation for a further increase in the value of the token. Zen believes that during price corrections it is worth buying tokens, increasing their supply for potential profit.
The case for long-term growth
In the comments to Zen's post, one trader explained why he believes Notcoin has good prospects for long-term growth:
- No coins being unlocked for VC funds: Coins are NOT scheduled to be unlocked and allocated to VC funds, which prevents significant releases of tokens into the market and maintains their price.
- Fair distribution of tokens: Tokens have been distributed as fairly as possible among members of the crypto community, which contributes to sustainability and trust in the project.
- Number of Hodlers: The number of long-term holders of Notcoin is 1.3 million, which is more than the number of people holding Pepe (PEP) and FLOKI (FLOKI) meme tokens.
Notcoin is showing strong growth amid positive forecasts and high community activity. With the current bullish trend supported by strong fundamentals, further appreciation can be expected for this promising token.
