Notcoin (NOT) has defied the recent crypto market slump, posting a swift recovery following Friday’s BTC sell-off. This resilience positions Notcoin as a play-to-earn (P2E) and gaming crypto space leader.
source: CMC
Notcoin is a cryptocurrency and viral game on Telegram. Users tap an animated coin to mine Notcoin, making it popular among over 35 million crypto-curious users due to its integration with Telegram and easy tap-to-earn mechanic.
Notcoin distributed over 80 billion $NOT tokens in a massive airdrop before listing on exchanges, aiming to jumpstart token circulation with a total supply of 100 billion.
Notcoin price surge explained
The surge in price came after Notcoin added a new feature to its Telegram bot, ‘explore.’ The newest addition allows users to explore different projects and earn $NOT in exchange, ‘explore-to-earn.’
The ‘explore’ option is a great success. Over 200 projects were launched via Notcoin, over 20 million users engaged with the explored projects, and at least $20,000 worth of rewards were distributed.
Notcoin’s resilience is also evident in Q2. Notcoin (NOT) surged by over 202%, defying the recent crypto market slump and surging a staggering 55% in just 24 hours.
As highlighted by this CoinMarketCap report. Notcoin’s performance positions it as one of the top-performing large-cap coins in the Top 100 by market cap.
Clicker Games & Notcoin’s popularity
Notcoin has gained popularity due to several factors. It is built on top of Telegram, a platform with over 100 million users, and it aims to be an open platform for Web3 projects.
Notcoin’s recent listing on Binance has significantly boosted its visibility and credibility. Its presence on top exchanges like Binance, Bybit, and OKX highlights its intrinsic value, which has led to an over $1.6B market cap.
Additionally, issuing $4.2 million worth of token incentives for premium users has contributed to its momentum.
Notcoin’s success has led to advancements in play-to-earn and gaming-themed cryptocurrencies. Its ‘clicker-game’ system demonstrates the potential of Telegram mini-app games to drive user engagement.
Could PlayDoge be next?
PlayDoge ($PLAY) is a mobile play-to-earn game in which players interact with virtual pets to earn rewards. The project is one of the market’s best ICOs, raising over $5.5 million.
Its next steps include decentralized exchange listings, the full launch of its mobile app, and the introduction of mini-games.
source: playdoge
PlayDoge shares several similarities with Notcoin but has its own advantages:
- PlayDoge has an earning mechanism similar to Notcoin.
- PlayDoge’s gameplay is inspired by Tamagotchi, targeting a cross-section of audiences with its timing.
- The ‘Doge’ fans may be pleased to see their favorite animal in a P2E game.
- PlayDoge’s supply is 9.4 billion, as opposed to Notcoin’s supply (around 100 billion).
Notcoin’s recent rise indicates that newer projects can gain traction quickly, giving hope to PlayDoge investors.
However, there are differences to consider. Notcoin’s game is already available, while PlayDoge is still under development.
The market is shifting towards P2E
Despite market conditions, Notcoin’s success showcases the demand for P2E and gaming crypto.
The trend aligns with increased capital and stablecoin supply growth of 19.8% in 2024, driving projects like PlayDoge. Meme coins, surpassing DeFi and NFTs, have become the hottest crypto category.
CoinMarketCap’s data reveals their popularity, with 23% of page views and over 25 million views in June alone.
This fervor creates an atmosphere where PlayDoge, with its meme status and P2E mechanics, may attempt to replicate Notcoin’s success.
