In a surprising turn amid the general market downturn, the Telegram-based Notcoin (NOT) saw its price skyrocket by 40% in the past day. The daily trading volume for NOT also surged dramatically by 450%, exceeding $1 billion. As of now, Notcoin is valued at $0.007899 per token, boasting a market cap of $811 million. This rally brings relief to investors after a period of inactivity.

Notcoin's Rapid Growth

The impressive growth of Notcoin is closely tied to the rising popularity of its play-to-earn Web3 game on Telegram. This game allows users to convert their in-game currency into NOT tokens, attracting significant interest from Telegram’s large user base. The coin’s notable rebound followed a much-anticipated airdrop that initially did not bring immediate benefits to holders.

Well-known cryptocurrency trader Zen predicts a positive outlook for NOT in the mid-term. Zen commented, “The long-term prospects depend on the market, but they are likely bullish too. Buying during dips is advisable.”

After launching, Notcoin filled the gap left by an initial sell-off, encountering major resistance. If it closes above this resistance, it might aim for the 0.0068 POC level; otherwise, it could pull back to below the breakout level.

Increased Social Sentiment and Market Interest

Following the airdrop, Notcoin’s social sentiment surged, bringing it back into the limelight. The project’s team compared Notcoin’s rise to Bitcoin’s early days, celebrating this achievement with the announcement of NOT Airdrop Phase 1. A recent Twitter poll involving 29,711 participants showed strong support for Notcoin, with 86.2% favoring it over Bitcoin’s 13.8%.

Market Dynamics and Trading Activity

In the last day, Open Interest in Notcoin soared from $44 million to $101 million, mirroring the price increase of over 40%. This surge reflects strong positive sentiment in the Futures market, with traders eager to take long positions. Additionally, the recent price rise led to numerous short liquidations, pushing prices higher. Coinalyze data reveals that over $4.4 million in short positions were liquidated in the last 24 hours.

The bullish market sentiment towards Notcoin is driven by the launch of an innovative feature called “earning missions.” This feature allows users to earn NOT tokens passively by engaging with partner projects and communities. Users can also increase their rewards by staking NOT, with higher tiers offering more substantial returns. This enhancement significantly boosts the project’s attractiveness to both new and existing investors.

In conclusion, Notcoin’s recent price surge and the introduction of new features have revitalized interest in the token. As the market responds positively, Notcoin’s future appears promising, especially with growing investor engagement and innovative project developments.