Notcoin Tumbles After Recent Surges – Is Hope For A Bull Run Over?
Notcoin Tumbles After Recent Surges – Is Hope For A Bull Run Over?
This signals a reversal in fortunes for the token, which posted encouraging price spikes this month that gave holders hope for a potentially major rally.
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$NOT, the token underpinning crypto’s viral new Telegram-based game Notcoin, is down 2.7% in the last 24 hours to trade at $0.0114 as of this writing.
This signals a reversal in fortunes for the token, which posted encouraging price spikes this month that gave holders hope for a potentially major rally.
First, came the launch of another Telegram game called Lost Dogs: The Way. A collaboration between Notcoin and fellow The Open Network (TON) developers, gaming team Lost Dogs Co and NFT trading platform Getgems. The announcement spiked the price of Notcoin by 50% in seven days.
Then two days ago, the price of Notcoin leapt 13% from a recent low of $0.0109 on August 13 to $0.0123 the next day.
Notcoin is a Telegram-based game that users can access through the app. Simply open the Notcoin bot, invite friends, and start tapping on the gold coin in the interface to begin earning $NOT.
Tap allowances are finite and refill slowly over time. However, players can earn more taps by questing and performing community actions.
The game and its token run on The Open Network (represented by the native utility token $TON), a blockchain that spun out from Telegram in 2020 after the SEC charged the company with violating federal securities laws by selling it. The two remain strongly affiliated.
The $NOT Token’s Sudden Rise And Fall
Through most of the summer, Notcoin has traded in very narrow straits of $0.018 and $0.009, as indicated by the respective resistance (red) and support (green) lines on the chart below.
In spite of the recent bullish price action, for the last week it’s remained 60% short of its all-time high (ATH) of $0.02836 on June 2 this year.
The bulk of its recent losses occurred before last Monday’s crypto crash highlights steadily cooling investor sentiment. Notcoin currently has a relative strength index (RSI) of 51 and rising, so it is unlikely to spiral any time soon.
However, a favourable market news cycle coupled with more positive announcements by the developers could buoy the token back into the green zone.
While Notcoin Drops, Traders Hit The Ground Running With The Meme Games
Notcoin’s $NOT is not the only gamified meme coin catching investors’ eyes right now. One promising new token presale called The Meme Games ($MGMES) has raised $366,600.
Those who buy $MGMES tokens now are prompted to select their favorite meme coin avatar, between Dogecoin, Pepe, DogWifHat, Brett and Turbo, and watch them race for a one-in-five chance to claim a 25% bonus on their initial purchase.
$MGMES is currently selling at a fixed presale price of $0.00925. In three days it rises incrementally to the next fixed price of $0.0093.
This means today’s investors can purchase 10,000 $MGMES at just $92.50.
This is the lowest price the token will be at for the rest of the presale season, which runs concurrently with this year’s Paris Olympics and Paralympics.
Participants can purchase $MGMES an unlimited number of times with no minimum purchase requirement to increase their chances of securing multiple 25% token bonuses.
The official project website and whitepaper encourage investors to stake tokens during the presale to take advantage of the tidy 562% APY on offer right now.
This figure decreases with the number of stakers, so participants will want to stake early and stake big to maximize yield. Notably, staking is only available on Ethereum.
Follow The Meme Games on Twitter and Telegram.
Join the presale via the official website.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.