invezz.com
Notcoin price has stabilised in the past two days after plunging to its lowest level in over two weeks. The NOT token was trading at $0.015 on Wednesday, 25% above its lowest level on Monday.
Notcoin has rebounded
Notcoin’s rebound has happened as Bitcoin rebounded from this week’s low of $58,400 to over $62,000. This rally has triggered more upside among other cryptocurrencies like Foxy, Solana, and Solend.
The rebound bodes well for other yet-to-be-listed tap-to-earn networks like TapSwap, Hamster Kombat, and Dotcoin because it shows the close correlation of Notcoin with Bitcoin and other altcoins.
For starters, Notcoin is one of the biggest players in the tap-to-earn industry, which has emerged as one of the fastest-growing sectors in crypto.
Tap-to-earn platforms are mini apps on Telegram that enable users to earn coins by just completing simple tasks like tapping a button, watching videos, and even following on social media.
Notcoin, which has over 38 million users, launched its airdrop in May, which pushed its token to a record high of $0.030. While the token has dropped in line with other cryptocurrencies, it still maintains a market cap of over $1.5 billion.
This means that TapSwap and Hamster Kombat could gain a higher market cap than Notcoin when they eventually goes public.
TapSwap has accumulated over 58 million users and the number is continuing growing. It has almost 20 million users.
Hamster Kombat, which has Russian roots, is doing much better. In just a few months, the platform has accumulated over 150 million users. Its YouTube channel, which was launched in May, has over 29 million followers and its videos have been viewed over 400 million times. This makes it one of the fastest-growing YouTube channels in history.
The next big catalysts for TapSwap and Hamster Kombat will be their airdrops, which will happen soon in the TON ecosystem. I suspect that, if market allows, these tokens will see substantial market gains shortly after launch.
Notcoin price forecast
NOT chart by TradingView
The 4H chart shows that the NOT price has moved downwards in the past few weeks. But unlike other tokens, the drop has not been all that steep, which is a positive sign.
Most importantly, Notcoin has risen above the 25-period and 50-period moving averages. It has also formed a falling wedge pattern, a popular bullish sign. Oscillators like the MACD and the Relative Strength Index (RSI) have all pointed upwards.
Therefore, the Notcoin price will likely have a bullish breakout in the coming days. This view will be confirmed if the price moves above the upper side of the falling wedge pattern.
The post Notcoin price rebound bodes well for TapSwap, Hamster Kombat appeared first on Invezz