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The Notcoin price is down over 29% in the past month following a more than 3% dip in the last 24 hours to trade at $0.01139 as of 10:00 a.m. EST as investors dump their holdings in the altcoin.
Trading volumes for the crypto coincide with the pullback in the NOT price throughout the past day. The altcoin only recorded just over $206.5 million in activity, which is a 30% drop compared to the previous day’s volume.
The Notcoin Price Attempting To Reclaim A Key Support
4-hour chart for NOT/USD (Source: GeckoTerminal)
The Notcoin price dropped below the key support at $0.01160, and is now attempting to reclaim a position above this mark. Should the crypto succeed, it could have the technical foundation needed to attempt a challenge at the next major resistance level at $0.01269.
However, NOT getting rejected by the $0.01160 resistance level could invalidate the bullish thesis. In this alternative scenario, the Notcoin price might be at risk of correcting to the immediate support level at $0.01054.
Technicals Suggest The Notcoin Price Could Go Either Way In The Short Term
From a technical perspective, indicators on NOT’s 4-hour chart are sending mixed signals. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are currently contradicting each other.
On one hand, the positive slope of the RSI suggests buyers are accumulating strength against sellers. However, the current RSI positioning below 50 indicates that bears currently have the upper hand, but this might not be the case for long.
Meanwhile, the MACD line and MACD Signal line are almost at the same level, with a negative MACD Histogram reading. Traders might see this as a bearish sign, and a potential early indication of the Notcoin price entering a short-term negative trend.
While technical indicators give no clear indication of which direction the Notcoin price might go in, investors are rushing to buy the play-to-earn (P2E) meme coin PlayDoge (PLAY).
Bringing Back A 90s Gaming Classic
PlayDoge (PLAY) is a crypto project based on the classic Tamagotchi game. Back in the 90s these virtual pets were a hit, with tens of millions of units sold worldwide. PlayDoge now looks to reignite this virality and carry it over into its ecosystem.
To accomplish this, the project will introduce an updated version of the game that is fit for the 21st century. Both blockchain and crypto technology will feature in PlayDoge’s iteration of the gaming gem, allowing players to earn crypto rewards for simply taking care of their virtual companions. Activities such as ensuring their digital pets get enough food, love and sleep will earn players PLAY tokens.
What’s more, the game will also provide support for mobile phones. Therefore, players can interact with their digital companions on the move with their smartphones.
The project’s combination of blockchain gaming, meme coin appeal and Tamagotchi style has excited many crypto analysts. One such analyst is popular crypto YouTuber Jacob Bury, who predicted in a recent video that PlayDoge might 10X.
A Successful ICO
PlayDoge has managed to raise over $6 million through its ongoing presale, signaling strong investor confidence in the project’s future. This positive momentum is likely to continue given the 76% APY on offer to anyone who buys and stakes PLAY at this early stage.
We're in the final stage of the #presale. 🚨
Are you ready for the best #P2E game of the year? 🔥
Earn $PLAY tokens and choose wisely what you feed your PlayDoge! 🌶️
LAST CHANCE TO BUY! 👇 https://t.co/JT0VEofqf2 pic.twitter.com/L3vML5z3xi
— PlayDoge (@PlayDogeGame) August 13, 2024
To get in on these rewards, investors can acquire the token using the simple buy widget embedded on the project’s website. Selling for $0.00529, the crypto can be bought using either ETH, USDT, BNB or bank card. Once purchased, the tokens will need to be locked up via the staking page for investors to gain access to the high staking rewards.
Purchase and stake PLAY here for the 76% APY.
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