Notcoin

PEPE

Simply

Read

Notcoin (<a href="https://crypto.news/price/notcoin/">NOT</a>) has witnessed an impressive price rally as the market rebounds while traders bet on its price fall. 
NOT is up by 51.6% in the past 24 hours and is trading at $0.0158 at the time of writing. The asset’s market cap currently sits at $1.6 billion, making it the 50th-largest cryptocurrency.&nbsp; 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14283462"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/Notcoin-NOT-17.38.01-07-Jul-2024-1024x347.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/07/Notcoin-NOT-17.38.01-07-Jul-2024-1024x347.png" alt="Notcoin rallies 51% as daily trading volume skyrockets 307%, traders bet on pull-back - 23"> 
 </picture> 
 <figcaption class="wp-element-caption">
 NOT price, RSI, open interest and funding rate – July 7 | Source: Santiment
 </figcaption>
</figure> 
Moreover, Notcoin’s daily <a href="https://crypto.news/glossary/volume-in-crypto-trading/">trading volume</a> skyrocketed by 307%, reaching a whopping $1.1 billion. 
 You might also like: <a href="https://crypto.news/crypto-scammers-stole-nearly-60m-from-20-victims-in-h1-2024-data-shows/"> Crypto scammers stole nearly $60m from 20 victims in H1 2024, data shows </a> 
According to data provided by Santiment, the <a href="https://crypto.news/notcoin-price-action-and-the-lessons-for-pi-network/">Notcoin</a> total open interest increased by 61% over the past day — rising from $115 million to $185 million. When an asset’s open interest suddenly increases, high price volatility is usually expected due to heightened liquidations. 
Data from the market intelligence platform shows that the total funding rate aggregated by NOT plunged from 0.001% to negative 0.02% in the past 24 hours. This movement shows that the asset’s open interest has majorly increased with short trading positions.&nbsp; 
Simply put, the amount of trades betting on Notcoin’s price fall has significantly increased.&nbsp; 
Per Santiment data, the Notcoin Relative Strength Index (RSI) surged from 52 to 62 over the past day. The indicator shows that NOT is slightly overbought at this price point and there’s a high chance of whales taking short-term profits. 
For Notcoin to remain in the bullish zone, its RSI needs to cool down below the 50 mark. 
 Read more: <a href="https://crypto.news/meme-coin-rally-bonk-wif-brett-and-pepe-are-all-up-15/"> Meme coin rally: BONK, WIF, BRETT and PEPE are all up 15% </a>

Notcoin rallies 51% as daily trading volume skyrockets 307%, traders bet on pull-back

crypto.news

Other articles published on Jul 7, 2024

Get Started with Bulk NFT Transfers

BlockDAG’s Presale Power Surge: $56.4M and Rising, While Polkadot Flounders and Polygon Flourishes

2024 Predictions: BlockDAG’s 1300% ROI Takes the Spotlight from Recovering Solana and Stable Monero

Ondo Leads Real-World Asset Crypto

Bitcoin – The Soft Fork of Discord

Innovation Over Hype: BlockDAG vs. Sealana – The Clear Winner Emerges

Join our free newsletter for daily crypto updates!