Notcoin

The TON-based meme coin and clicker game on Telegram, Notcoin (<a href="https://crypto.news/price/notcoin/" rel="">NOT</a>), has emerged as the top loser among the leading 100 cryptocurrencies despite its bullish announcement. 
NOT is down by 15% in the past 24 hours and is trading at $0.016 at the time of writing. The asset’s market cap is currently hovering at $1.64 billion, making it the 58th-largest cryptocurrency. 
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 NOT price, open interest, funding rate and RSI – June 11 | Source: Santiment
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Moreover, Notcoin’s daily trading volume also declined by 14%, reaching the $700 million mark.&nbsp; 
According to an official announcement on X, the owner of the <a href="https://crypto.news/what-is-notcoin/" rel="">Notcoin</a> smart contract has revoked their ownership. Many users have shown bullish sentiment in the same X thread, calling NOT a “community token.” 
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 Notcoin has no owner. No new supply can be added. <a href="https://t.co/2KoIsWPkT3" target="_blank" rel="">pic.twitter.com/2KoIsWPkT3</a>— Notcoin Ø (@thenotcoin) <a href="https://twitter.com/thenotcoin/status/1800223079362412902?ref_src=twsrc%5Etfw" target="_blank" rel="">June 10, 2024</a>
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At this point, per the X post, no one can add any Notcoins to its circulating and total supply — locking the total supply at 102,701,033,769 NOT. 
According to data provided by Santiment, the NOT total open interest dropped from $67.6 million to $63.4 million over the past 24 hours. The decline in the asset’s open interest comes as it witnessed over $4 million in liquidations, per Coinglass <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="">data</a>.&nbsp; 
Moreover, the total funding rate aggregated by NOT has been sitting close to 0.01% over the past two days. The indicator shows that long-position holders are still slightly dominating short-positioned traders despite the price downturn. 
Data from the market intelligence platform shows that the NOT relative strength index (RSI) plunged from 96 on June 2 — when the token reached an all-time high of $0.028 — to 74 at the reporting time.&nbsp; 
The indicator shows that the heat around NOT has been constantly declining while the token is still overbought.&nbsp; 
Thanks to the declining open interest and RSI, lower price volatility would be expected for Notcoin. 
On June 10, the TON-based token <a href="https://crypto.news/notcoin-not-price-jumps-12-amid-user-surge-and-new-incentives/" rel="">recorded a 12% rally</a> after announcing new incentives and a surge in its user base.&nbsp; 
 Read more: <a href="https://crypto.news/bitcoin-ethereum-exchange-balances-at-4-year-low/" rel=""> Bitcoin, Ethereum exchange balances at 4-year low </a>

NOT plunges 15% while the contract owner revoked privileges

crypto.news

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