High Volatility Woes: Notcoin Price Drops Despite Exchange Support
- Notcoin price plunges 53.73% after launch despite exchange backing
- High trading activity persists despite price decline (volume-to-mark cap ratio 202.97%)
- Large circulating supply (102.7 billion tokens) contributes to price volatility
The recent launch of Notcoin (NOT), a gaming token designed to introduce users to the Web3 ecosystem, was marked by significant volatility. Within 24 hours of its highly anticipated airdrop, the token’s price nearly halved, underscoring the inherent risks associated with cryptocurrency investments, particularly following airdrop events.
Notcoin, positioned as a gaming token with the goal of introducing users to the Web3 ecosystem, encountered notable selling pressure right after its airdrop launch, leading to a significant drop in its value.
Despite endorsements from major exchanges like Binance, OKX, and Bybit, Notcoin experienced a rapid decline in value after its launch. The token initially traded with a fully diluted valuation (FDV) of $1 billion, but its price quickly dropped. While a trading frenzy in the first hour generated a volume of $294 million, this enthusiasm waned quickly as the price plummeted by 53.73% to $0…
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