Notcoin Price Falls By 85%, What Really Happened?

Bittime - Notcoin price fell by 85%, what really happened? After its appearance which attracted a lot of attention, the price of Notcoin suddenly fell.

The fall in Notcoin's price , which touched 85%, occurred about a week after listing. Let's look at the explanation here.

Notcoin Debut

Notcoin debuted on the Toncoin network last week, distributing nearly $1 billion worth of NOT tokens to qualified investors. This token also managed to get listing on major exchanges, including Binance. 

Initially, enthusiasm for Notcoin pushed its price to an all-time high of $0.037. 

Also Read: NOT Drops 55%! End of Airdrop Period and Notcoin Launch on Exchange

Within 24 hours of listing, Notcoin even reached eighth position in trading volume, surpassing $1.4 billion.

Notcoin has undoubtedly received great attention due to support from Telegram founder Pavel Durov. 

Durov publicly praised Notcoin on his Telegram channel, highlighting the project's rapid growth and its transition from in-game currency to real money for users.

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Reasons Why Notcoin Price Falls

On May 17, Durov expressed his gratitude for the donation of more than 1 billion NOT tokens from the Notcoin community, which is worth approximately $6.8 million. 

He even stated that he would keep the token until its value increased to $680 million, which is 100 times the current valuation.

Also Read: Bitcoin Rally: Once Again, BTC Metrics Are Bullish

However, this euphoria quickly evaporated when the Notcoin price crashed. Within a week, the token's value fell by more than 85%, trading well below its debut price.

This sharp decline may have been caused by investors immediately selling the tokens they received for free to secure profits, instead of saving them for potential future profits. 

This massive selling action caused excess supply in the market, causing prices to fall further.

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Analysis of the Falling Notcoin Price

Crypto analyst “Crypto Patel” has a bearish view on Notcoin price movement going forward.

“Based on chart analysis, we can see a minor rise to $0.0060-$0.0065 before falling further to $0.0040,” Patel said.

This analysis reflects current market sentiment, where many investors remain cautious about the token's near-term prospects.

In response to price volatility , and Notcoin's falling price, the Notcoin team has planned new campaigns, products, and offerings to increase user engagement and token stability. 

Initiatives include expanding staking benefits and providing access to exclusive allocations for Gold and Platinum level users.

The Notcoin team emphasizes that while they encourage staking, they do not intend to lock out or coerce anyone.

"Please unstake Notcoin and withdraw it on-chain at any time. Yes, you will lose Level benefits and access to the pool. However, we do not want to lock out or force anyone to stay. Notcoin is a free choice," wrote the Notcoin team.

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You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.