Notcoin (NOT) skyrocketed over 320% in the past week, reaching a peak of $0.02896 on June 2.
Notcoin (NOT) skyrocketed over 320% in the past week, reaching a peak of $0.02896 on June 2. The token, integrated as a Telegram Mini App, has quickly gained traction, amassing over 30 million users on Telegram within two months. Since launching on May 16, Notcoin has seen a remarkable price increase of over 200%. This rally has propelled Notcoin to a market capitalization of $2.45 billion, making it the 94th largest cryptocurrency tracked by CoinMarketCap.
Social media buzz appears to be a significant driver behind Notcoin’s impressive rally. Within just two weeks of its launch, Notcoin became the second-most mentioned cryptocurrency over a 12-hour period, as highlighted in a June 3 tweet by Alphascan. The post noted that 45% of all weekly mentions occurred in the last 24 hours, underscoring the rapid rise in social media interest.
Justin Hyun, director of investments at TON Foundation, believes that Notcoin and other Telegram Mini Apps could serve as a “Trojan horse” for mass blockchain adoption. Hyun emphasized the importance of user-friendly blockchain interactions, saying: “bringing 500 million people on-chain by 2028 — which is our goal — will require use cases that interact with the blockchain without the user knowing it on the front end.”
Notcoin’s growing popularity has also translated into substantial trading volumes. On June 3, it became the fifth-most traded cryptocurrency, with over $4 billion in trading volume. It is currently the 8th most traded token, with a total volume of $1.8 billion.
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