invezz.com
21 October 2024 14:39, UTC
Notcoin (NOT) experiences massive interest from large-scale cryptocurrency investors. IntoTheBlock data shows whales have increasingly accumulated the Telegram-based token over the previous month, magnifying their activity last week.
The altcoin reflected this optimism with elevated prices, up 10% and 3% in the past month and week, respectively. Notcoin’s bounce-back has renewed optimism for Telegram projects, which lost their appeal following Hamster Kombat’s disappointments.
Also, the broad market resurgence has boosted investor hopes for massive recoveries, explaining the improved whale activity in assets such as Notcoin.
The crypto space displays consolidation trends, with most digital tokens flashing reduced volatility. Nonetheless, this could be the start of the highly awaited altcoin season.
Renowned crypto analyst World of Charts revealed interesting developments for alts. He highlighted that the altcoin market capitalization chart showcased a descending wedge pattern, which could trigger a 300 – 400% augmentation.
#Crypto#Alts Already Following Our Plan But Currently Breaking Massive Bullish (Descending Broadening Wedge Pattern) In My Point Of View We Will Finally Going To See Massive Recovery In Altcoins In Coming Weeks Its Final Resistance For Now Seems Like 300-400% Is An Easy…
The bullish setup signals potential price surges for alternative cryptos in the upcoming sessions.
The market seems to follow the analyst’s prediction. The altcoin market cap broke beyond the pattern’s upper boundary at press time, confirming imminent rallies for alts.
Such staggering growth would mean robust rallies for altcoins, and whale trends present NOT among the tokens poised for remarkable uptrends in an alt season.
Notcoin took the altcoin space by storm after gaining over 2,800% within a month following its mid-May 2024 trading debut. The massive user base, with over 35 million individuals participating in NOT redemption immediately after its launch, catalyzed the remarkable growth.
Such sentiments propelled the token’s market cap to $2.56 billion before bears emerged. The metric stands at $828,461,562.54, reflecting significant declines from June 2024 peaks.
Also, NOT price surged to ATHs of $0.0293 before plummeting to press time values of $0.0081 – down 45% from all-time highs.
Nevertheless, the current outlook shows the pullback could be securing a solid bottom. The surging interest from whale investors, the looming altcoin season, and Notcoin’s latest price performance suggest user optimism and impending rallies.
The coin kick-started its recent upsurge after retesting the support level near $0.0069 several times. The current momentum could send prices beyond the $0.0106 resistance.
The in-game token changed hands at $0.0081 during this publication, following a 1.78% decline on its daily chart.
Nonetheless, market outlook suggests that NOT’s dip could offer a lucrative money-making opportunity for dip-buyers.
Notcoin eyes a swift turnaround amid enhanced broad market sentiments.
Buyer resurgence will see it targeting levels above the hurdle at $0.0106 – an over 30% increase from the current prices.
Further, mimicking the anticipated 400% altcoin market growth would send NOT prices to seemingly unattainable highs of $4.05.
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