The recently introduced Telegram-linked cryptocurrency, Notcoin (NOT), has been making waves in the crypto market due to its notable price surge.
On May 30, 2024, a significant milestone was announced via X (formerly known as Twitter), stating that Notcoin’s onchain holder count has surpassed that of other popular meme tokens like Shiba Inu, Bonk, and Pepe.
The announcement detailed that Notcoin now boasts 1.6 million onchain holders, surpassing Shiba Inu’s 1.4 million, Bonk’s 731,000, and Pepe’s 235,000.
This substantial increase is a testament to the growing investor interest and confidence in Notcoin.
The rise in Notcoin’s onchain holders coincides with a sharp increase in its price.
Over the past 24 hours, the price of NOT has soared by 28%, currently trading near $0.0116.
This surge is part of a broader trend observed over the past week, with NOT experiencing a 130% increase, despite a 20% decline over the past month.
The positive price movement of Notcoin is partly attributed to a recent promotional staking offer, which has since concluded, signaling strong market demand.
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Technical analysis suggests that NOT is on a bullish trajectory, evidenced by a significant breakout and the closing of its first daily candle in positive territory.
The optimism surrounding Notcoin is further bolstered by external factors such as the U.S. Securities and Exchange Commission’s (SEC) approval of a spot Ethereum ETF.
Given that NOT is built on the Ethereum blockchain, this development could have indirect positive implications for its value.
In contrast, other major meme coins are struggling to maintain momentum.
Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), dogwifhat (WIF), and Bonk (BONK) have seen declines of 3.54%, 2.5%, 4.5%, 7.5%, and 10% respectively over the same period.
This comparative performance emphasizes Notcoin’s recent success not only in expanding its onchain holder base but also in achieving substantial price gains, distinguishing it from its peers in the volatile meme coin market.
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