Notcoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whales-reduce-activity-in-notcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Reduce Activity in Notcoin</a><br></p>
<p style="text-align: justify">Telegram’s recent tap-to-earn project, Notcoin (NOT), has witnessed a significant decrease in whale activity, correlating with a drop in the altcoin’s price. Since early August, major <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> in NOT have been largely responsible for the double-digit declines in the altcoin during this period, as they have been selling more than buying.</p>
<h2 id="notcoin-whales-fleeing-the-market">Notcoin Whales Fleeing the Market</h2>
<p style="text-align: justify">On-chain data indicates a marked reduction in daily transaction volume involving substantial NOT investors. According to data from IntoTheBlock, buy/sell transactions involving whales with deals between $100,000 and $1 million have plummeted by 74%. Additionally, transactions ranging from $1 million to $10 million have seen a 21% reduction.</p>
<p style="text-align: justify">This downturn in large transactions may signal a negative trend due to its detrimental impact on the asset. Individual investors might perceive a lack of confidence in NOT when they observe a decline in whale trading activities, often leading to increased selling pressure and ongoing price drops.</p>
<p style="text-align: justify">Supporting this, the net flow of major NOT holders has decreased by 98% over the last 30 days.</p>
<h2 id="what-will-not-s-price-be">What Will NOT’s Price Be?</h2>
<p style="text-align: justify">NOT has been trading within a horizontal channel indicative of consolidation since August 6. This suggests that neither bears nor bulls have shown the requisite strength, resulting in a lack of a clear price direction. During this timeframe, the RSI value has also remained stable, indicating no significant overbought or oversold conditions in the market.</p>
<p style="text-align: justify">As of the time of writing, NOT is trading at $0.01057, having experienced a 3.46% decline in the last 24 hours and a 30% drop over the past 30 days. Nonetheless, if NOT breaks its narrow range within the channel upwards, the price could rise to $0.13. Conversely, if the trend is downward, the price might fall below the lower boundary of the horizontal channel, potentially dropping to $0.008.</p>
<h2 id="critical-insights">Critical Insights</h2>
<p style="text-align: justify">– A 74% reduction in whale transactions between $100,000 and $1 million.<br> – A 21% decline in transactions between $1 million and $10 million.<br> – A 98% drop in the net flow of major NOT holders over the past month.<br> – Current price trading at $0.01057 with a potential drop to $0.008 if downward trend continues.<br> – Potential upward movement to $0.13 if the narrow range breaks upwards.</p>
<p style="text-align: justify">In conclusion, the decline in whale activity in the Notcoin market could have significant repercussions for its <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> pricing and investor confidence. The reduction in large transactions points towards a possible bearish trend, though there remains a potential for price recovery depending on market movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whales-reduce-activity-in-notcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">Whales Reduce Activity in Notcoin</a></h5>

Whales Reduce Activity in Notcoin

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