- The bitcoin price surged 7.22%, showcasing a bullish trend.
- The trading volume of Notcoin exceeded $1 billion, indicating strong market interest.
With a stunning price rise over the past 24 hours, Notcoin (NOT) has defied the general market’s declining trend.
When I wrote, NOT was valued at $0.02009, up 4.22% in the same time frame, according to CoinMarketCap data. Notcoin has also shown a robust bullish posture during the last week, rising 15.66%.
Market Comparison: Bitcoin and Ethereum
While Notcoin kept rising, Bitcoin (BTC) fell, reaching $65,103 before marginally rising back above $66,000. Additionally experiencing a decline was Ethereum (ETH), whose price dropped to $3,381.The divergent performance of Notcoin draws attention to its weak link to these top cryptocurrencies.
The last statistics showed that Notcoin was worth $0.020. Still, on June 14, the token peaked at $0.022.
Significant whale activity led to an incredible 400% increase in the NOT price within a seven-day period, which brought in profits of $862,000 from this tap-to-earn gaming token, as ETHNews reported earlier this month.
Remarkably, another Telegram-related project called Toncoin (TON) has had similar growth to Notcoin. Even if analysts had previously stated that Notcoin and Toncoin did not follow the same patterns, recent price changes point to a renewed agreement.
On-chain, opinions about NOT are still quite positive. In terms of the Weighted Sentiment indicator, an analyst saw a jump from 0.178 on June 13 to 0.617 at press. This considerable rise suggests that good online remarks regarding the token outnumber negative ones.
Volume and Trading DynamicsÂ
The amount of bitcoin traded has also increased significantly, reaching $1 billion in the last 24 hours, a 131% rise. High trade volumes affect a cryptocurrency’s price direction and indicate substantial market interest.
The price rise, together with the noteworthy volume change, suggests that buy pressure for Notcoin is rising.
Though the price of NOT is rising right now, there are signs that it could fall. According to past statistics, on June 2, when the cryptocurrency hit an all-time high of $0.029, its volume peaked at $4 billion.
The 74.27 Relative Strength Index (RSI) indicates that NOT is in an overbought state, which may lead to a price reversal.
Should this tendency persist, the price of Notcoin may fall to about $0.016 in the next few days. This forecast, meanwhile, might be thrown out if more general market circumstances improve, which would raise the price of NOTÂ and other cryptocurrencies.