Notcoin

Toncoin

when

USDC

Notcoin’s (NOT) price rose over 300% over the past week to reach a new all-time high. Can the NOT token continue its parabolic rise due to social hype?
<h2 id="notcoin-rises-320-in-one-week-hits-new-all-time-high">Notcoin rises 320% in one week, hits new all-time high</h2>
Notcoin’s price rallied over 323% during the past week, reaching a new all-time high of $0.02896 on June 2, according to <a href="https://www.tradingview.com/chart/3Z94myyP/?symbol=OKX%3ANOTUSDT" target="_blank" rel="noopener nofollow">TradingView</a> data.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/1fb2a8ea-6bdd-43b9-8872-66ad32c78c66.png" alt="" title="">
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 NOT/USDT, 1-week chart. Source: TradingView
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In less than two months, Notcoin, the play-to-earn game and token integrated as a Telegram Mini App, has attracted over <a href="https://cointelegraph.com/news/crypto-game-notcoin-30-million-users-founder-interview">30 million users on Telegram</a>, introducing a new wave of mainstream adopters to the cryptocurrency space.
<a href="https://cointelegraph.com/news/bybit-notcoin-deposits-withdrawals-ton">Notcoin was listed on the Bybit</a> exchange for trading on May 16. NOT rose over 200% over the past two and a half weeks since it was listed.
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/310f6c1e-3af7-4421-b35e-62c3ca70f278.png" alt="" title="">
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 NOT/USDT, all-time chart. Source: TradingView
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Following the rally, Notcoin reached a $2.3 billion market capitalization, becoming the 51st largest cryptocurrency tracked by <a href="https://coinmarketcap.com/" target="_blank" rel="noopener nofollow">CoinMarketCap</a>.
Notcoin and other Telegram Mini Apps will be <a href="https://cointelegraph.com/news/telegram-mini-apps-trojan-horse-mass-blockchain-adoption">a “Trojan horse”&nbsp;for mass blockchain adoption</a> that could onboard the next 500 million crypto users, according to Justin Hyun, director of investments at TON Foundation.
Hyun told Cointelegraph in an interview:
<blockquote data-ct-non-breakable="true">
 “Bringing 500 million people on-chain by 2028 — which is our goal — is going to require use cases that interact with the blockchain without the user knowing that in the front end.”
</blockquote><iframe width="100%" height="315" src="https://www.youtube.com/embed/vOoKYzU6-mw" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen data-ct-non-breakable="true"></iframe>
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 Justin Hyun talks about the mechanics of Mini Apps. Source: YouTube
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Related: <a href="https://cointelegraph.com/news/pepe-whale-up-5m-within-month">PEPE whale up nearly $5M on investment within a month</a>
<h2 id="social-sentiment-driving-not-s-price-rally">Social sentiment driving NOT’s price rally</h2>
Growing retail interest via social media platforms seems to be among the main drivers of Notcoin’s rally to its all-time high.
Only two weeks after launch, Notcoin became the second-most mentioned cryptocurrency in the 12-hour timeframe, according to a June 3 X <a href="https://x.com/alphascan_xyz/status/1797422717676789950" target="_blank" rel="noopener nofollow">post</a> by Alphascan:
<blockquote data-ct-non-breakable="true">
 “Second most key-mentioned token on the 12-hour timeframe. One of the most key-mentioned tokens on the daily timeframe… 45% of all weekly mentions occurred in the last 24 hours, and 81% of all daily mentions happened in the last 12 hours.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/816f65dc-09b9-4d12-a92b-b7cfb13fb562.jpeg" alt="" title="">
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 Notcoin social mentions. Source: Alphascan
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Further showcasing the growing investor interest, Notcoin became the fifth-most traded cryptocurrency on the market, reaching over $4 billion in trading volume on June 3 — overtaking USD Coin’s (<a href="https://cointelegraph.com/usdc-price-index">USDC</a>) $3.5 billion trading volume, according to <a href="https://www.coingecko.com/en/highlights/high-volume" target="_blank" rel="noopener nofollow">CoinGecko</a>.
The growing social sentiment around Notcoin has also attracted more large investors, or whales, to the Telegram ecosystem, namely for Toncoin (TON), according to crypto analyst Ali Martinez. Martinez wrote in a June 3 X <a href="https://x.com/ali_charts/status/1797611822499103150" target="_blank" rel="noopener nofollow">post</a> to his 63,400 followers:
<blockquote data-ct-non-breakable="true">
 “The number of large Toncoin transactions (over $100,000) has surged by 237.5% in the past 24 hours! This significant increase in TON whale activity suggests a strategic shift in their investments and positions.”
</blockquote>
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 <img src="https://s3.cointelegraph.com/uploads/2024-06/85f81c30-1107-4ddc-94d5-fa42b6f08cd7.jpeg" alt="" title="">
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 Number of large Toncoin transactions. Source: Ali Charts
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Magazine: <a href="https://cointelegraph.com/magazine/cailtlyn-jenner-token-scammer-sahil-arora-celebrity-network-leaked-price-list/">Caitlyn Jenner meme coin ‘mastermind’s’ celebrity price list leaked</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Why is Notcoin up 300% over the past week?

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