Notcoin price chart hits new all-time high: just hype or something else?
NOIDA (CoinChapter.com) — The Notcoin price hit a new all-time high (ATH) on May 30, surpassing the record set a day earlier. Moreover, this rally was likely driven by multiple factors.
The coin has been on a massive rally over the past seven days. NOT price gained 1509% before retracing some of the gains to near daily highs of $0.013.
Notcoin’s listing is likely one of the reasons for this rise. Data provider CryptoQuant shared on-chain activity about Notcoin tokens on X. After being listed on major exchanges, NOTCOIN’s trading volume and active addresses increased significantly.
Trading volume and active addresses rose sharply as trading volume increased, indicating increased market interest and active trading. Despite initial volatility, large holders with 100K to 1M NOTCOIN continued to accumulate.
This accumulation indicates long-term confidence in the value of NOTCOIN beyond short-term market fluctuations. In simple terms, investors believe that Notcoin could become a store of value rather than just another meme coin.
It is also crucial to distribute community incentives through airdrops. This increases user engagement and promotes circulation, thus supporting the overall market health of NOTCOIN.
The continued accumulation of large holders highlights a strategic belief in the potential of NOTCOIN. This trend indicates a deeper confidence in the long-term value proposition of this cryptocurrency, which is driven by its community engagement and strategic incentive allocation.
Meanwhile, after its recent massive rally, NOT prices slowed down on May 31, falling 7.7% to a low near $0.012. However, NOT bulls responded to the bearish pressure and recovered considerable ground, ensuring hopes of continued gains.
If the Notcoin price continues to rise, the coin will face resistance from near the 0.618 FIB Retracement level, around $0.0137. However, a breakout and consolidation above the immediate resistance could help the NOT price to continue on the charts to new all-time highs near $0.015.
On the other hand, bears that are bullish and profitable might force the NOT price to start a downtrend that could lead the coin down to $0.0112 near the 0.382 FIB level. A break below the immediate support might force the price of Notcoin to fall back to support levels close to $0.0098.