Notcoin’s (NOT) price rise has been more than surprising given the humble background of the token coming from a Telegram game.
However, as the crypto asset caught everyone’s attention, it even transferred some to web3 games, proving to be a boon to the industry.
Notcoin Makes It Big
Notcoin’s price nearly doubled in just 48 hours, resulting in the altcoin’s market valuation crossing the $2 billion mark. Close to hitting $2.2 billion in market cap, NOT is not too far away from becoming one of the 50 biggest crypto assets in the world.
The recent rally has already resulted in Notcoin outperforming the likes of Lido DAO (LDO), Celestia (TIA), ThorChain (RUNE), Fetch.ai (FET), and many others. Next on the list are Fantom (FTM) and BONK, surpassing which would bring NOT into the top 50 asset list.
The recent surge, however, has affected not only the asset but the entire industry. Notcoin is a web3 game on the Toncoin (TON) blockchain, so it inherently falls into the gaming tokens list.
Notcoin Close To Entering the Top 50 Asset List. Source: CoinMarketCap
Consequently, as the altcoin rose, it dragged the attention of investors and gamers towards other web3 games and tokens. As a result, the total market cap of all gaming tokens increased by 4.5% to $30 billion.
This rising interest also served as a boon to the liquidity of gaming tokens as trading volume surged by 95% in 24 hours.
At the time of writing, Notcoin (NOT) is the third biggest gaming token in the world. The only ones ahead of it are ImmutableX (IMX) and Floki, while the likes of Axie Infinity (AXS) sit in the sixth position.
Read More: Crypto Gaming: What Is It and How Does It Work?
Web3 Gaming Tokens Market Cap and Trading Volume. Source: CoinMarketCap
Thus, if Notcoin continues to witness the interest of the investors, it could also shed some limelight on other gaming tokens. This may reignite the web3 gaming hype.
NOT Price Prediction: Another Al-Time High Likely
Notcoin’s price has already gained almost 100% in the last two days, bringing it up from $0.011 to $0.021 at the time of writing. The altcoin even marked a new all-time high of $0.029 yesterday, making it the first since the asset’s launch on May 16.
While NOT may not seem to be on the path of a new all-time high at the time of writing, it could pick up the pace soon. This is because the altcoin is close to entering the top 50 assets, which is a major milestone that may push the price higher.
As a result, Notcoin’s price could rise to $0.030 or more.
Read More: What Are Telegram Bot Coins?
Notcoin Price Analysis. Source: TradingView
However, NOT holders may see this as an opportunity to cash out and secure their gains. If they do so, Notcoin’s price could take a hit. It could lose the support of $0.020 and fall to lows of $0.015, invalidating the bullish thesis and wiping out recent gains.
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