Skip to main content

What is Notcoin? The altcoin that surged 300% in a week

06 Jun, 2024

On Monday, a relatively new token called Notcoin (NOT) became the fifth-most-traded cryptocurrency, surpassing the trading volume of Circle's USDC stablecoin. This surge was primarily fuelled by increased hype generated on social media platforms, which propelled the little-known altcoin up the charts. The question now is whether this upward trend, driven by crypto community buzz, can be sustained.

What is Notcoin?

Notcoin is a play-to-earn game token integrated as a Telegram Mini App in which players tap to earn Notcoin tokens. In just under two months, it managed to amass over 30 million users on Telegram. This influx has brought a fresh wave of mainstream users into the cryptocurrency market via the popular messaging platform.

The Notcoin mini app is essentially a social clicker game. Players looking to earn in-game currency can open the Telegram app, access the Notcoin bot, invite friends, and start playing.

Once the player is in the game, a gold coin appears on the screen. Tapping it earns Notcoin, the in-game currency. Players have a limited amount of energy that depletes and slowly refills over time, preventing endless tapping without breaks.

As you accumulate Notcoin, you advance on a global leaderboard divided into tiers ranging from Silver League to Diamond League. Extra tokens can be earned by completing quests, which often involve actions like following a Twitter account or joining a Telegram community.

Players can also use "boosts" or power-ups to enhance their earning potential. There are two types of free boosts that refresh daily: Full Energy and Turbo boosts. There are also additional permanent boosts that can be purchased with Notcoin. These perks allow players to increase the number of coins earned per tap and the amount of energy available. There's also an Auto-Tap bot that continues collecting coins while you're away.

Earned Notcoin can be spent on cosmetic upgrades, such as changing the game's background or the appearance of the coin being tapped.

The surprising rise of Notcoin

Notcoin was first listed for exchange on 16 May, making it a newcomer to the crypto space. Since then, Notcoin's value has climbed by more than 200%. Notably, Notcoin's price surged by 323% within the past week, hitting a peak of $0.02896 on 2 June before settling to trade at $0.02408 at the time of writing.

Following this price surge, Notcoin's market capitalisation reached $2.3 billion, making it the 51st largest cryptocurrency tracked by CoinMarketCap.

Notcoin's rising popularity has also led to increased trading activity. On 3 June, Notcoin became the fifth-most-traded cryptocurrency, with a trading volume exceeding $4 billion, surpassing USD Coin's $3.5 billion trading volume.

A social sensation

The increasing retail interest via social media has been a significant factor behind Notcoin's rise. Within two weeks of its launch, Notcoin became the second-most mentioned cryptocurrency within a 12-hour timeframe, according to a post on X (formerly Twitter) by Alphascan on 3 June:

"Second most key-mentioned token on the 12-hour timeframe. One of the most key-mentioned tokens on the daily timeframe… 45% of all weekly mentions occurred in the last 24 hours, and 81% of all daily mentions happened in the last 12 hours."

Telegram's "Trojan horse" for mass adoption?

Notcoin's success reflects a wider strategy on the part of the TON Foundation to use gamification and the Telegram platform to entice new users into the cryptocurrency community. Justin Hyun, Director of Investments at TON Foundation, described Notcoin and other Telegram Mini Apps as potential "Trojan horses" for widespread blockchain adoption. He envisions these applications bringing 500 million users on-chain by 2028 through seamless blockchain interactions.

Currently, the strategy appears to be working, as the heightened social hype around Notcoin has also attracted more significant investors to the Telegram ecosystem, particularly for Toncoin (TON). Crypto analyst Ali Martinez highlighted this trend in a 3 June post to his 63,400 followers:

"The number of large Toncoin transactions (over $100,000) has surged by 237.5% in the past 24 hours! This significant increase in TON whale activity suggests a strategic shift in their investments and positions."

Will Notcoin's price trend continue?

Given the flash-in-the-pan nature of some viral cryptocurrency pumps, all eyes are on Notcoin to predict if the surge can be sustained. Notcoin currently displays strong upward momentum, indicating a potential entry into a bullish phase. The cryptocurrency appears ready to challenge the $0.03 resistance level soon. If this momentum persists, NOT's price could climb toward $0.05, possibly reaching $0.10 in the next bullish cycle.

Conversely, if market sentiment turns negative, Notcoin might find support around $0.026. A prolonged downturn could push the price further down to approximately $0.025, indicating a bearish trend.

The 4-hour technical indicators for Notcoin show a promising uptrend. The Moving Average Convergence Divergence (MACD) indicator reveals bullish momentum. The MACD line is at 0.003060, comfortably above the signal line at 0.003201, indicating strong buying pressure.

The Relative Strength Index (RSI) is at 72, placing Notcoin in overbought territory. The Awesome Oscillator (AO) also indicates bullish momentum with a value of 0.006770. This positive trend is further supported by the Chaikin Money Flow (CMF) indicator, which stands at 0.15, suggesting strong buying pressure.

When it comes to long-term plans, it looks like Notcoin is not going anywhere. Speaking at Token 2049 in Dubai this April, Notcoin co-founder Sasha Plotvinov is recorded as saying, "We want it to become the Netflix of social, viral games."  Plans for Notcoin include serving as a platform for other crypto gaming apps and associated services.

Trade Notcoin, Toncoin, and more with StormGain

With Notcoin's remarkable ascent driven by social media and its gamified approach to blockchain adoption, it's an exciting time to explore trading opportunities in the cryptocurrency market. For those looking to trade Notcoin, Toncoin, and other cryptocurrencies, StormGain is one of the best options on the market.

StormGain is a comprehensive cryptocurrency trading platform, available on the web or as a mobile app, with a user-friendly interface that makes trading easy and accessible whether you're a beginner or an experienced trader. StormGain users benefit from a variety of technical analysis tools, real-time market data, and customisable trading charts to make informed decisions. Other features include low, transparent fees, robust security, 24/7 customer support, and a wealth of educational resources and tutorials to enhance your trading skills and stay updated on market trends. You can even access a free Bitcoin (BTC) cloud miner to earn passive income while you trade!

Given Notcoin's potential for further growth and the continued expansion of the Telegram ecosystem, now is an ideal time to start trading. By choosing StormGain, you can take advantage of the platform's features and secure your place in the dynamic world of cryptocurrencies.

Don't miss out on the next big opportunity in crypto trading. Register with StormGain today and start trading Notcoin, Toncoin, and a wide range of other cryptocurrencies!

Exchange BTC

Mining icon
Want Bitcoin for free?

Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.

Start mining

Mining icon
Want Bitcoin for free?

Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.

Start mining

Сайт та всі послуги StormGain доступні також українською мовою.