Why You Shouldn’t Buy Notcoin Right Now and When to Expect a Price Drop
Notcoin is experiencing a period of volatility following its listing on May 16, 2024.
Here are a few reasons why you shouldn’t buy Notcoin right now:
- Uncertainty: The Notcoin market is still in an unstable state after the listing. The price can fluctuate sharply, making investments risky.
- Staking: A significant portion of Notcoin is currently staked, limiting its circulating supply and potentially artificially inflating the price. According to data from NotcoinScan, over 40% of the total supply is currently staked.
- Listing Delays: Many Binance users did not immediately receive their Notcoin in their wallets after the listing. As these coins are gradually unstaked, it could increase selling pressure.
When can we expect a potential Notcoin price drop?
It’s impossible to make an accurate prediction, but there are a few factors that could influence the price:
- Unstaking: June 10–16 will see the gradual unstaking of Notcoin from staking contracts. This could lead to an increased circulating supply and, consequently, a price decline.
- Trading Volume: Low trading volume can lead to increased price volatility.
- Market Sentiment: The overall sentiment in the cryptocurrency market can also impact Notcoin’s price.
Therefore, it is recommended to consider investing after June 16th.
Recommendation:
I would advise caution when it comes to investing in Notcoin at the moment. Wait for the market to stabilize, conduct your own research, and assess the risks before making any decisions.
Remember: Cryptocurrency is a high-risk investment asset. Never invest more than you can afford to lose.
Always conduct your own research and consult with qualified professionals before making investment decisions.
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