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Is HODLing NOTcoin (NOT) Still a Profitable Investment Strategy in 2024?

Is HODLing Notcoin (NOT) Profitable?

By an editor from Cryptochronicle.xyz, a top crypto news site.

NAIROBI (CoinChapter.com) — Notcoin (NOT), a blockchain-based game operating on The Open Network (TON), has gained popularity on the Telegram messaging platform with 35 million users in just two months. Users earn NOT tokens by tapping their screens in this addictive game, introducing a portion of Telegram’s user base to Web3.

The game’s high daily active user rates were expected to increase Notcoin’s value, but the price chart shows a decline from $0.0067 to $0.0050. This discrepancy raises questions about the factors affecting Notcoin’s performance.

NotCoin’s price has been volatile since launch, dropping from $0.0053 to $0.0049 in the last 24 hours. While the broader crypto market saw a 7.8% increase, NotCoin underperformed at a 5.60% decrease.

CoinGecko shows Notcoin with a market cap over $515 million and a 24-hour trading volume exceeding $98 million, indicating interest and liquidity. However, NotCoin’s newness and lack of fundamental information present challenges for its stability and growth.

Investors are left pondering if HODLing Notcoin for the long term is worth it amid market uncertainties and competition. Examining historical data of similar cryptocurrencies like Bitcoin and Ethereum can offer insights into NotCoin’s potential, though not all coins follow the same trajectory.

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