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Notcoin (NOT) is defying gravity in a market that’s currently struggling.
While most cryptos have been seeing red, NOT has surged 27% over the past week, catching the eye of investors.
This rally comes as another player in the crypto gaming space, PlayDoge (PLAY), passes the $5.5 million mark in its ICO phase.
Notcoin’s Impressive Comeback Surprises Investors
Notcoin is making an impressive comeback.
After a rough patch, NOT has bounced back aggressively, now trading around the $0.0169 level.
That’s a 27% jump since last Monday.
And if you zoom in on the action since Friday’s low, we’re looking at an enormous 83% surge.
The weekend was particularly kind to NOT, with the token’s price rallying hard.
Now, it’s eyeing its third consecutive green close – a feat that hasn’t been seen since the last week of May.
But it’s not just Notcoin’s price that’s impressive.
Spot volumes hit $1.1 billion in the past 24 hours, making NOT the 9th most traded crypto.
Notcoin’s market cap also returned to $1.7 billion.
And here’s an exciting thought for bulls: Another 74% price hike would see NOT return to its all-time high from early June.
This looked impossible just a few days ago.
Ultimately, it’s yet another example of how quickly cryptocurrencies’ fortunes can change.
Why is the Crypto Market in the Red?
Notcoin’s rally is even more impressive when you consider the bearishness in the market right now.
While NOT has been surging, most other cryptos have been seeing red.
The overall market’s taken a beating, mainly due to a triple whammy of economic uncertainties, ETF outflows, and some unexpected moves in Germany.
Investors are on edge, with US inflation concerns and interest rate jitters keeping everyone on their toes.
Adding to investors’ worries, spot Bitcoin ETFs have seen more outflows.
It seems like traders are playing it safe and reducing their exposure to BTC.
And on top of all that, Germany has been offloading some of its Bitcoin stash.
Over the weekend, addresses linked to German authorities sent just over $40 million to another address.
Blockchain sleuths speculate that this could be a sign the government is preparing to sell its BTC holdings.
Yet, despite all this doom and gloom, Notcoin has been thriving.
It’s a reminder that in the crypto market, sometimes the unexpected can happen.
Is This the Next Notcoin? PlayDoge ICO Hits $5.5M as Excitement Builds Over Nostalgic P2E Game
Speaking of projects bucking the trend, let’s talk about PlayDoge.
Despite the market’s gloomy outlook, this newcomer has been making moves in its ICO phase, raising over $5.5 million.
PlayDoge’s creators are tapping into the nostalgia factor with its retro-style P2E game.
This game allows players to care for a virtual pet, much like the Tamagotchis of the ‘90s.
But instead of just satisfaction, players will earn real crypto rewards.
These rewards are distributed in PLAY – PlayDoge’s native BEP-20 token.
On top of the P2E gameplay, PlayDoge offers staking opportunities, with annual yields estimated at 104%.
So, a player could theoretically compound their earnings by playing the PlayDoge game and then staking their PLAY tokens.
It’s a clever way to keep players engaged and invested in the ecosystem.
What’s intriguing about both Notcoin and PlayDoge is their ability to generate excitement in a market that’s experiencing a downturn.
They’re proving that projects with strong communities can still thrive even in bearish conditions.
PlayDoge certainly has that – more than 9,400 people are active on the official Telegram channel.
Of course, since PlayDoge is not yet available on the open market, it’s impossible to know how it will perform once trading begins.
But if the early hype is any indication, PlayDoge is in line for an exciting debut.
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