Telegram-Based Notcoin Burns 210 Million Tokens Amid Positive Recovery

Telegram-based
Notcoin
(NOT)

recently
carried
out
a
token
burn
that
paints
a
bullish
outlook
for
the

crypto
token’s
ecosystem.
This
comes
amid
a
recent
price
recovery
for
the
NOT
token,
with
fundamentals
suggesting
that
more
price
surges
may
be
imminent.

Notcoin
Burns
210
Million
NOT
Tokens

Notcoin
revealed
in
an
X
(formerly
Twitter)

post

that
they
had
just
burned
210
million
NOT
tokens
($3
million).
They
noted
that
the

crypto
token’s
tokenomics

is
now
“extremely
community-oriented”
thanks
to
this.
They
further
revealed
that
94.18%
of
Notcoins
are
held
by
11.5
million
people,
including
traders,
miners,
and
stakers,
among
others.
Meanwhile,
5.82%
of
Notcoin’s
total
supply
is
in
the
treasury,
which
will
be
used
for
development.

Related
Reading

The
token
burn
carried
out
by
the
team
is
undoubtedly
bullish
for

Notcoin’s
ecosystem,
especially
if
the
demand
for
the
crypto
token
continues
to
increase.
Moreover,
the
210
million
tokens
burned
represent
a
significant
supply
given
that
Notcoin
boasts
a
circulating
supply
of
just
over
102
billion,
according
to

data

from
CoinMarketCap.

Meanwhile,
as
highlighted
by
the
team,
NOT
is
now
more
community-driven
based
on
how
the
crypto
token
is
evenly
distributed
among
community
members.
This
could
further
boost
investors’
confidence
in

Notcoin
and
its
ecosystem

since

the
team

isn’t
greatly
armed
with
a
large
percentage
of
the
token’s
supply,
which
could
cause
the
market
to
crash.

Meanwhile,
Notcoin
revealed
that
$4.2
million
worth
of
Notcoin
will
be
awarded
as
an
incentive
for
Gold
and
Platinum
users
of
Notcoin
Explore.
The
‘Explore’
initiative
lets
users
earn
NOT
and
other
bonuses
from
projects
by
completing
various
tasks.
Crypto
projects
can
add
Notcoins
to
the
Explore
pool
and
create
a
campaign
involving
users
completing
multiple
tasks.

On
the
one
hand,
this
is
an
excellent
way
for
teams
to
promote
their
projects
since
NOT
boasts
an
active
player
base
of
40
million
users.
On
the
other
hand,
this
initiative
is
another
bullish
fundamental
for
the
crypto
token’s
ecosystem
as
it
could
help
increase
the
demand
for
Notcoin
and
ultimately
drive
up
its
value.

NOT
Also
Bullish
From
A
Technical
Analysis
Perspective

Several
crypto
analysts
have
also
analysed
Notcoin,
presenting
a

bullish
outlook

for
the
crypto
token.

Crypto
analyst
Captain
Faibik

recently

mentioned

that
Notcoin
is
on
the
verge
of
a
“massive
wedge
upside
breakout.”
From
the
chart
he
shared,
Notcoin
could
rise
to
as
high
as
$0.03
when
it
successfully
breaks
out
from
its
current
price
levels.