search
Homeweb3.0Notcoin (NOT) Struggles Continue in the Crypto Market

Notcoin (NOT) Struggles Continue in the Crypto Market

Sep 20, 2024 pm 06:39 PM
Token BurnNotcoin NOT

Notcoin (NOT) is still struggling in the crypto market. The token's price has plummeted by 31% over the last 30 days, and with weakening network activity and technical indicators, there are growing concerns about its future.

Notcoin (NOT) Struggles Continue in the Crypto Market

Notcoin (NOT) continues to face difficulties in the crypto market. The token’s price has seen a steep decline of 31% over the last 30 days, sparking concerns about its future prospects. This article analyzes the challenges faced by Notcoin and explores what lies ahead for the embattled cryptocurrency.

Massive Token Burn Fails to Boost NOT’s Fortunes

Cryptocurrency projects often utilize token burns to reduce supply, aiming to increase the token’s value by creating scarcity. However, in the case of Notcoin, even a substantial burn of 233 million tokens has not been sufficient to turn its fortunes around.

Over the past month, Notcoin has experienced a significant price drop, leading to questions about the token’s future prospects. Instead of boosting confidence, the token burn seems to have been overshadowed by broader concerns about the project’s network activity and technical performance.

Weakening Price Momentum and Technical Indicators

One of the most concerning aspects of Notcoin’s current performance is its weakening momentum in the spot market. According to data from TradingView, the Relative Strength Index (RSI) for NOT/USD on a 4-hour chart has been on a consistent downward trend since September 9. The RSI is a key indicator that measures the strength of price movements, and a down-trending RSI suggests increasing selling pressure.

As the RSI approaches oversold territory, it’s becoming clear that sellers are dominating the market. This points to the possibility of further price declines unless there is a substantial reversal in market sentiment.

Adding to the pressure, only 23% of Notcoin addresses are currently in profit, according to IntoTheBlock data, with a staggering 65.50% of addresses holding losses. This creates a psychological barrier for investors, many of whom may opt to cut their losses if the token’s price continues to fall.

Declining Network Activity: A Major Concern

Beyond technical analysis, the on-chain metrics paint a grim picture for Notcoin. Network activity has been on the decline, with new addresses dropping by 41.9% over the past seven days. This is a clear indication that fewer users are interested in joining the Notcoin ecosystem.

More alarmingly, active addresses have plunged by 49.2% in the same period, signaling that even existing users are losing interest in the project. A decline in active addresses often reflects diminishing user engagement, which can be disastrous for the long-term viability of a cryptocurrency.

The sharp decline in user activity has also impacted transaction volumes. Since September 13, the number of transactions on the Notcoin network has consistently hovered below 50,000. On September 17, transaction volumes hit a 7-day low of 41.23K, indicating that user participation is drying up.

Adding to the bleak outlook is the drop in whale activity. On September 16, the number of large transactions hit a 7-day low of just three, showing that even deep-pocketed investors are backing away from the project.

Notcoin’s Price Outlook: Is There Any Hope?

At the time of writing, Notcoin is trading slightly above its $0.0070 support level. The token has been stuck in a falling wedge pattern since June, consistently testing lower resistance levels. The next key support zone sits around $0.0044, and with little buying interest in the market, a slip below this level could result in further losses.

Zooming in on the 4-hour chart, it becomes clear that the token has been consolidating between $0.007 and $0.0084 throughout September. While there was a brief rally to $0.0076 on September 17, the token was quickly rejected, continuing its downward trajectory under a descending resistance line.

Without a clear catalyst to ignite buying interest, the token is likely to face ongoing pressure. Investors hoping for a turnaround may have to wait, as both technical and on-chain indicators remain bearish.

Growing Correlation with Ethereum and Bitcoin

Interestingly, Notcoin’s price movement has increasingly become correlated with that of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). According to Into The Block, the 30-day correlation between Notcoin and Ethereum has risen to 0.81, nearing its highest value of 0.85 seen in August.

This growing correlation suggests that Notcoin’s price is increasingly tied to the broader market, particularly the movements of flagship assets like Ethereum. While this could provide some stability in the event of a market-wide rally, it also means that Notcoin is vulnerable to broader crypto market downturns.

Conclusion: What’s Next for Notcoin?

Notcoin’s struggles highlight the challenges faced by smaller cryptocurrency projects in sustaining user engagement and investor confidence. Despite burning a large number of tokens, the project is still facing declining network

The above is the detailed content of Notcoin (NOT) Struggles Continue in the Crypto Market. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Top 10 cryptocurrency speculation app rankings in 2025 Top 10 cryptocurrency speculation software rankingsTop 10 cryptocurrency speculation app rankings in 2025 Top 10 cryptocurrency speculation software rankingsApr 28, 2025 pm 04:39 PM

Top 10 cryptocurrency trading apps in 2025: 1. OKX, providing rich market data and analysis tools; 2. Binance, comprehensive market data and "Binance Academy"; 3. Gate.io, supporting "currency mining"; 4. Coinbase, user-friendly interface and "Coinbase Earn"; 5. Kraken, providing "dark pool trading"; 6. Huobi, supporting "contract trading"; 7. KuCoin, providing "invitation rewards"; 8. Bitfinex, etc.

Top 10 free and easy-to-use cryptocurrency apps? What are the cryptocurrency apps?Top 10 free and easy-to-use cryptocurrency apps? What are the cryptocurrency apps?Apr 28, 2025 pm 04:36 PM

Top 10 free and easy-to-use cryptocurrency apps: 1. OKX, 2. Binance, 3. Coinbase, 4. Kraken, 5. Huobi, 6. KuCoin, 7. Bitfinex, 8. Bybit, 9. Crypto.com, 10. Gate.io. These apps all provide real-time price, K-line chart and other market data to help users make investment decisions and market analysis.

Free coins trading market software recommendations The top ten easy-to-use coins trading appsFree coins trading market software recommendations The top ten easy-to-use coins trading appsApr 28, 2025 pm 04:33 PM

The top ten recommended cryptocurrency trading software are: 1. OKX, 2. Binance, 3. Coinbase, 4. KuCoin, 5. Huobi, 6. Crypto.com, 7. Kraken, 8. Bitfinex, 9. Bybit, 10. Gate.io. These apps all provide real-time market data and trading tools, suitable for users at different levels.

Recommended reliable digital currency trading platforms. Top 10 digital currency exchanges in the world. 2025Recommended reliable digital currency trading platforms. Top 10 digital currency exchanges in the world. 2025Apr 28, 2025 pm 04:30 PM

Recommended reliable digital currency trading platforms: 1. OKX, 2. Binance, 3. Coinbase, 4. Kraken, 5. Huobi, 6. KuCoin, 7. Bitfinex, 8. Gemini, 9. Bitstamp, 10. Poloniex, these platforms are known for their security, user experience and diverse functions, suitable for users at different levels of digital currency transactions

Recommended cryptocurrency exchange apps 2025 Top 10 Digital Currency Trading Apps in the WorldRecommended cryptocurrency exchange apps 2025 Top 10 Digital Currency Trading Apps in the WorldApr 28, 2025 pm 04:27 PM

Recommended cryptocurrency exchange apps: 1. OKX, 2. Binance, 3. gate.io, 4. Coinbase, 5. Kraken, 6. Huobi, 7. Bitfinex, 8. KuCoin, 9. Bitstamp, 10. Gemini, these exchanges are known for their efficient trading systems, rich trading pairs and multiple security measures to meet the needs of different users.

Ranking of the top ten free market websites. Free view of the currency circle market app rankingsRanking of the top ten free market websites. Free view of the currency circle market app rankingsApr 28, 2025 pm 04:24 PM

Recommended software for free market websites in the currency circle: 1. OKX, providing rich market data and analysis tools; 2. Binance, comprehensive market data and "Binance Academy"; 3. Gate.io, supporting "currency mining"; 4. Coinbase, user-friendly interface and "Coinbase Earn"; 5. Kraken, providing "dark pool trading"; 6. Huobi, supporting "contract trading"; 7. KuCoin, providing "invitation rewards"; 8. Bitfinex, etc.

Ranking of easy-to-use currency trading apps. Ranking of top ten currency trading appsRanking of easy-to-use currency trading apps. Ranking of top ten currency trading appsApr 28, 2025 pm 04:21 PM

Ranking of useful currency speculation apps: 1. OKX, 2. Binance, 3. Coinbase, 4. Kraken, 5. Huobi, 6. KuCoin, 7. Bitfinex, 8. Bybit, 9. Crypto.com, 10. Gate.io. These apps all provide real-time price, K-line chart and other market data to help users make investment decisions and market analysis.

A safe and easy-to-use virtual currency trading platform. The top ten virtual currency exchanges rankingsA safe and easy-to-use virtual currency trading platform. The top ten virtual currency exchanges rankingsApr 28, 2025 pm 04:18 PM

The top ten virtual currency exchanges are: 1. OKX, 2. Binance, 3. Coinbase, 4. KuCoin, 5. Huobi, 6. Crypto.com, 7. Kraken, 8. Bitfinex, 9. Bybit, 10. Gate.io. These platforms all provide download, install, view market conditions and trading operations functions, which are suitable for different user needs.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

EditPlus Chinese cracked version

EditPlus Chinese cracked version

Small size, syntax highlighting, does not support code prompt function

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

MinGW - Minimalist GNU for Windows

MinGW - Minimalist GNU for Windows

This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.

mPDF

mPDF

mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),

DVWA

DVWA

Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software