A violent collapse hits the price of Notcoin...a loss of 85%

Notcoin (NOT), a cryptocurrency heavily backed by social media giant Telegram, has seen its value drop significantly. This happened within the first week of inclusion.

Crypto is part of a Telegram-based game with a user base of 35 million. Investors who bought into the hype are now facing huge losses.

Crypto analyst expects further drop in Notcoin price

Notcoin appeared first on the Net Toncoin last week. Nearly $1 billion in NON coins were released to qualified investors.

Notcoin has also achieved high-profile listings on major exchanges, including Binance. Initially, the hype around Notcoin saw it It reached its highest level ever At $0.037. Within 24 hours of its listing, Notcoin reached eighth place in terms of trading volume, surpassing $1.4 billion.

The project attracted great attention thanks to the support of Telegram founder Pavel Durov. Durov publicly praised Notcoin on his Telegram channel, highlighting the project's rapid growth and its transition from in-game currency to real money for its users.

Learn more: TON Foundation Partners with HashKey to Facilitate Cryptocurrency and Fiat Exchange Through Telegram Platform

On May 17, Durov expressed his gratitude for the generous donation of over a billion NOT tokens, worth approximately $6.8 million, from the Notcoin community. Additionally, Durov said he would hold the tokens until their valuation reaches $680 million, which is 100 times the current valuation.

However, this enthusiasm quickly dissipated as the price began to fall. NOT In decline. Also in one week, the value of the token fell by more than 85%. It traded at a much lower price than its initial price.

The sharp decline can be attributed to investors quickly selling airdropped tokens to secure profits rather than holding them for potential future gains. These massive sales have significantly increased the supply on the market. Which brought the price down even further.

Crypto analyst Crypto Patel has a bearish view on Notcoin's future price movements.

And he said Patel : “According to chart analysis, we can see a small push towards $0.0060 – $0.0065 before the next stop at $0.0040.”

This analysis also reflects current market sentiment. Many investors remain cautious about the token's near-term prospects.

In response to price fluctuations, the Notcoin team outlined upcoming campaigns, products, and offerings aimed at boosting user engagement and token stability. These initiatives include expanding storage benefits and access to exclusive customizations from other launches for Gold and Platinum users.

The team emphasizes that while it encourages users to share their tokens, it does not intend to lock out or force anyone to stay.

“You are free to withdraw your Notcoin and withdraw it on-chain at any time. Yes, you will lose tier benefits and access to pools. However, we do not want to lock out or force anyone to stay. ", books The Notcoin team.