Notcoin price has dropped sharply in the past few weeks, erasing over $1 billion in market value
The NOT token slipped to a low of $0.0091 on Friday, its lowest level since May 29th and by over 64% from its highest point on record.
Notcoin price has lost momentum
Notcoin and Pi Network are different assets in the blockchain industry.
Notcoin is a Telegram mini-application that lets people earn tokens by just tapping a button. Anyone with Telegram can use the app and earn tokens.
Pi Network, on the other hand, is a Bitcoin rival that is similar to other proof-of-work tokens. Its main difference is that, unlike Bitcoin, anyone with a smartphone can install the app and start mining.
The other difference is that Notcoin launched its aidrop in June, just a few months after launch while Pi Network has remained in an enclosed mainnet since December 2021.
While the two networks are different, they have two similarities. First, users press a button on the app to mine Notcoin and Pi Coins. Second, the miners’ goal is to ultimately convert the mined tokens into fiat currencies. In Notcoin’s case, many miners have either sold their tokens or held them as assets.
Pi Network path to mainnet launch
Pi Network is expected to launch its mainnet either in 2024 or in 2025. To do that, the developers are working on ensuring that most pioneers have been identified through the KYC process.
In a statement last week, Pi Network said that it had already conducted the KYC process on 12 million people. This means that it has just 3 million users to verify to hit its 15 million target, a process that will take a few months.
The developers also want to have at least 100 Pi applications, which will give it utility. Finally, they will launch the mainnet if market conditions allow.
Therefore, the first lesson for Pi Network is that there is a likelihood that the Pi Coin will drop after launch as many pioneers sell. Besides, most of these pioneers have been actively mining the token for over five years.
This price action has happened in other tokens. For example, move-to-earn tokens like Sweatcoin (SWEAT) and StepN (GMT) initially jumped and then retreated. The two have dropped by over 90% from their all-time high.
Second, there is a possibility that the Pi Coin will have a close correlation with Bitcoin and other altcoins. Notcoin token rose to a record high of $0.030 on June 2nd as Bitcoin was rallying to the monthly high of $72,000.
It then started dropping as Bitcoin lost momentum and moved below $55,000 on Friday. Therefore, there is a possibility that the Pi Coin will also have a correlation with Bitcoin and other altcoins in the long run.
Robinhood’s exploration of cryptocurrency futures trading is set to impact altcoins like Dogecoin, Bonk, and KangaMoon, potentially driving significant price surges.
Robinhood has begun exploring the potential launch of cryptocurrency futures trading in the United States and European markets. While there is no official date yet as to when they will launch, this move has already begun to affect the altcoin space.
Some of the altcoins that could potentially surge the most as a result include Dogecoin (DOGE), Bonk (BONK) and KangaMoon. To see why this is the case, we will go over their on-chart metrics individually.
DOGE dips 5% but can recover fueled by market enthusiasm
Dogecoin (DOGE) has experienced a price downtrend on the weekly chart, dipping by 5%. During this time-frame, the Dogecoin price did reach its highest level at $0.1274, however, its lowest point was at $0.1196.
Now, it needs to surpass the major $0.13 price barrier, which will fuel Dogecoin crypto growth in 2024 and beyond. As a result, sentiment is bullish, and according to the Dogecoin price prediction, it can end 2024 at $0.1643.
Bonk rises 10% and can reach a new annual high
Bonk (BONK) has surpassed expectations and has risen 10% on the two-week chart, fueled by enthusiasm on the future of memecoins.
During the span of just the past week, the Bonk price moved up from a low point of $0.00002161 to a maximum price of $0.0000267, and at this rate, has the potential to see even further gains.
The Bonk crypto is also displaying bullish RSI and MACD data, both of which can fuel further growth. According to the Bonk price prediction, it can end the year at a maximum value of $0.000030.
KangaMoon to defy expectations and spike in 2024
KangaMoon (KANG) emerges as a disruptive force within the web3 landscape.
Its fusion of Social-Fi functionalities and a Play-to-Earn (P2E) game represents a paradigm shift in user engagement. As a result, anyone can monetize their playtime, fostering a robust and thriving community built on a sense of belonging within its meticulously crafted ecosystem.
KangaMoon prioritizes maximizing user engagement through a meticulously designed environment. Each player can create a character, and engage with various in-game elements to earn. This incentive-driven model not only cultivates active participation but also fosters a loyal user base primed for exponential growth upon the game’s official release.
The platform further incentivizes user engagement by integrating Social-Fi features. This strategic implementation rewards active community members with complimentary tokens, fostering a dynamic online environment.
This focus on community building is likely a contributing factor to the impressive growth, with over 32,000 users already actively participating. To further enhance user utility, KangaMoon recently launched a staking program. This program empowers users to leverage their KANG holdings for additional capital gains.
The token boasts trackability on prominent platforms like CoinGecko and CoinMarketCap, with listings on major exchanges like Uniswap and BitMart. Moreover, the KangaMoon token has already experienced a 1,900% appreciation since its initial offering price. Financial analysts remain bullish on KangaMoon’s long-term prospects, projecting a potential for a further 100x increase in value.
The project recently surpassed a $100 million market capitalization, a significant milestone indicative of the project’s growing traction. Financial analysts remain optimistic about KangaMoon’s future trajectory, with projections suggesting a potential market cap exceeding $1 billion by the end of 2024.
Conclusion
Robinhood’s road toward establishing crypto futures can have a positive impact on the broader altcoin market, and both Dogecoin and Bonk can experience a price uptrend. However, most of the attention has gone toward KangaMoon, as it has the potential to spike 100x and provide massive ROI for traders who jump into it early.
To learn more about Kangamoon, visit the website and join the Telegram community.