Telegram-Based Notcoin Burns 210 Million Tokens Amid Positive Recovery
2024年6月28日 - 5:30AM
NEWSBTC
Telegram-based Notcoin (NOT) recently carried out a token burn that
paints a bullish outlook for the crypto token’s ecosystem. This
comes amid a recent price recovery for the NOT token, with
fundamentals suggesting that more price surges may be
imminent. Notcoin Burns 210 Million NOT Tokens Notcoin
revealed in an X (formerly Twitter) post that they had just burned
210 million NOT tokens ($3 million). They noted that the crypto
token’s tokenomics is now “extremely community-oriented” thanks to
this. They further revealed that 94.18% of Notcoins are held by
11.5 million people, including traders, miners, and stakers, among
others. Meanwhile, 5.82% of Notcoin’s total supply is in the
treasury, which will be used for development. Related
Reading: Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale
Transactions Soar The token burn carried out by the team is
undoubtedly bullish for Notcoin’s ecosystem, especially if the
demand for the crypto token continues to increase. Moreover, the
210 million tokens burned represent a significant supply given that
Notcoin boasts a circulating supply of just over 102 billion,
according to data from CoinMarketCap. Meanwhile, as
highlighted by the team, NOT is now more community-driven based on
how the crypto token is evenly distributed among community members.
This could further boost investors’ confidence in Notcoin and its
ecosystem since the team isn’t greatly armed with a large
percentage of the token’s supply, which could cause the market to
crash. Meanwhile, Notcoin revealed that $4.2 million worth of
Notcoin will be awarded as an incentive for Gold and Platinum users
of Notcoin Explore. The ‘Explore’ initiative lets users earn NOT
and other bonuses from projects by completing various tasks. Crypto
projects can add Notcoins to the Explore pool and create a campaign
involving users completing multiple tasks. On the one hand,
this is an excellent way for teams to promote their projects since
NOT boasts an active player base of 40 million users. On the other
hand, this initiative is another bullish fundamental for the crypto
token’s ecosystem as it could help increase the demand for Notcoin
and ultimately drive up its value. NOT Also Bullish From A
Technical Analysis Perspective Several crypto analysts have also
analysed Notcoin, presenting a bullish outlook for the crypto
token. Crypto analyst Captain Faibik recently mentioned that
Notcoin is on the verge of a “massive wedge upside breakout.” From
the chart he shared, Notcoin could rise to as high as $0.03 when it
successfully breaks out from its current price levels.
Related Reading: Bitcoin Crash Not Done: CoinShares Analyst
Predicts ‘True Correction’ Amid Outflows Crypto analyst Planfomo
also shared a similar sentient. He stated he is getting more
confirmation that the bullish falling wedge pattern on Notcoin’s
chart could play out. His chart showed that Notcoin could
eventually rise to as high as 0.038 when this breakout finally
occurs. This will represent a new all-time high (ATH) for Notcoin,
with its current ATH at $0.028. Featured image created with Dall.E,
chart from Tradingview.com
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