Notcoin Plummets 4% in 24 Hours Amid 89% Yearly Decline

Notcoin, the native coin for a tap-to-earn game on the Telegram Open Network (TON), has experienced a significant decline in its price and on-chain activity. Over the past 24 hours, the price of Notcoin has dropped by 4%, reaching $0.00168. This decline is part of a broader trend, with the token down 22% over the past week and 37% over the past 30 days. The most alarming statistic is the 89% decline in the past year, with Notcoin losing 94% of its value since reaching its all-time high of $0.02836 in June of last year.

The token's on-chain activity has also witnessed a steady decline, with new addresses dropping from a peak of 630,000 to 327, marking a 99.9% decline. This significant drop in user engagement raises serious concerns about the long-term viability of Notcoin. The token's relative strength index (RSI) has touched 30, and its moving average convergence divergence (MACD) is at a weak, oversold level, which typically indicates a strong rebound for a healthy asset. However, given the token's fundamental issues, such a rebound is uncertain.

Notcoin was launched on May 16, 2024, and initially gained popularity, reaching its all-time high just a few weeks later. However, as user numbers dried up, the token's price has been in a consistent decline. The current on-chain data suggests that the token's utility and user base have significantly diminished, which does not bode well for its price recovery. While short- or medium-term lifts are possible if the wider market recovers, the long-term outlook for Notcoin remains bleak.

According to the analyst's forecast, the token could potentially recover to $0.0020 or even $0.00250 in the next couple of months if favorable market conditions emerge, such as a peace deal in the Middle East or trade deals that ease tariff issues. However, it is just as likely that Notcoin will continue its decline, given its current fundamentals and lack of user engagement. The token's future hinges on whether it can regain its user base and on-chain activity, which currently seems unlikely.