Notcoin, the cryptocurrency that recently brought substantial airdrop profits to many Nigerians, saw a 15% drop in its value following the end of the airdrop claim period. The Notcoin team confirmed the completion of the airdrop on X (formerly known as Twitter), sharing details about the total number of holders and other on-chain activities, including market capitalization and token burning.
Airdrop Campaign and Distribution
The Notcoin team clarified that while the remaining airdrop tokens are either kept for future development or burning, most of them have already been distributed. “Most of the drop has already been gone. Some of the nonclaimed tokens would be burnt and others will be used for additional development,” they said.
This month marks the debut of Notcoin and active community engagement following that. Consequently, Notcoin currently boasts 11.5 million holders based on the press announcement.
Notcoin is trading at $0.01597 as of right now, a 15.3% devaluation in value. Still, the cryptocurrency is much above its starting value. At $1.8 billion, Notcoin is presently ranked 58th on CoinGecko in terms of market capitalization. Notcoin ranks higher than other well-known initiatives such as Aave (AAVE), Jupiter (JUP), and zkSync (ZK).
Attaching Benefits and Future Advancements
Notcoin’s latest successes follow from its collaboration with Play-to-Earn crypto ventures founded on Telegram Messenger. For extra benefits, users might move their tokens to any exchange platform or withdraw them to other wallets they own or even stake them on the Notcoin platform via this airdrop claim method.
To inspire further involvement in the Notcoin network, the team also hinted at potential gold—and platinum-level incentives for stakeholders. Later in the week, further specifics of these incentives will be released.
Market Analysis and Forecasts
As market analysts pointed out, this bearish trend started once the airdrop was finished. On the 4-hour chart, Notcoin’s Relative Strength Index (RSI) right now is 26, which indicates that the coin is oversold at the moment but under strong bearish pressure.
Moreover, the bears can lower the price towards the $0.015 support level by having the MACD line pass the zero line and enter the negative region. A violation of support at this level could cause a protracted consolidation before a bullish reversal as the chart shows.
Still, the weighted sentiment indicator remains positive, indicating that most of the players in the market have a good attitude. Burning unclaimed tokens could help the market, and the price of Notcoin could vary between $0.015 and $0.021, according to market experts.
Positive funding rates also imply that traders are hopeful, having longs covering shorts to maintain their bias. Should this attitude persist and purchasing pressure increase, Notcoin’s price may once more show an upward trend.
