Telegram-linked Notcoin eyes 100% price rally after 210M NOT token burn

Yashu Gola10 hours agoTelegram-linked Notcoin eyes 100% price rally after 210M NOT token burnNOT’s price will likely undergo a major bullish reversal move in the coming weeks, supported by Notcoin’s initiatives to bring more users to its gaming ecosystem.952 Total views18 Total sharesListen to article 0:00Altcoin WatchOwn this piece of crypto historyCollect this article as NFTJoin us on social networksTelegram-based Notcoin (NOT) is poised for significant growth, with projections of doubling its market capitalization in the coming weeks. This optimistic outlook is supported by strong technical indicators and fundamental factors, namely the ecosystem’s recent token burn.Notcoin burns 210 million NOT in a day

On June 25, the Notcoin team announced that it had burned 210 million NOT tokens worth $3 million in a day, a move that grabbed traders’ attention and helped NOT’s price rally by up to 16.40% to reach $0.0164.NOT/USDT daily price chart. Source: TradingView

The Notcoin team revealed plans to distribute $4.2 million worth of NOT tokens to “Gold and Platinum users” of its Explore initiative. This initiative allows any project to contribute NOT to the Explore pool and create campaigns with tasks for users who earn NOT for completion.

Both updates point to two fundamentally bullish scenarios. For instance, token burns permanently remove a portion of a coin’s supply from active circulation, a theoretically bullish strategy if the demand for the coins increases simultaneously.

Similarly, users earning NOT for task completion ensures continuous demand for the token as new projects and users join the platform. Both features are central to Notcoin founder Sasha Plotvinov’s four-year roadmap for the project.

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The Notcoin project is currently focusing on its Notcoin app, which features campaigns that allow users to earn Notcoin by engaging with new Telegram games. The aim is to establish the app as a central hub for launching other ecosystem projects, driving demand for Notcoin and incorporating token burns.Notcoin technical analysis: A 100% price rally potential

Price chart technicals suggest that NOT’s ongoing price rally is part of a broader rebound after the token tested the lower trendline of its prevailing falling wedge pattern.

Falling wedges are considered bullish reversal patterns, characterized by two converging, downward-sloping trendlines. Usually, they resolve after the price breaks above the upper trendline and rises by as much as the maximum distance between the upper and the lower trendline.

Applying the same technical principles to NOT’s bullish scenario, the upside target for July is between $0.023 and $0.031, up 45%–100% from the current price levels, depending on the breakout point.NOT/USDT daily price chart. Source: TradingView

Conversely, the bearish scenario is that a break below the wedge’s lower trendline risks invalidating the bullish reversal setup altogether and may take NOT’s price toward $0.011, a support level from May 31 to June 1.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Altcoin# Telegram# Markets# Games# Tech Analysis# Market Analysis# Altcoin Watch# GameFiAdd reaction