Coinspeaker
14 November 2024
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Toncoin and Notcoin Signal Imminent Bullish Breakouts

Amid the bullish sentiment in the cryptocurrency market, particularly following a rally in meme coins like Dogecoin, Telegram-backed Web3 projects Toncoin and Notcoin are indicating potential bullish breakouts. The overall market is expanding, driven by increased institutional investor adoption.

The cryptocurrency cash rotation is favoring large-cap altcoins as Bitcoin has reached a new all-time high (ATH) above $93K.

Toncoin (TON) Price Target

The TON blockchain has become a significant player in the layer one (L1) market, with over $308 million in total value locked and a stablecoin market cap exceeding $1.1 billion. Numerous Web3 projects have launched on the TON blockchain, including prominent DeFi projects like STON.fi, DeDust, bemo, and EVAA protocol.

As a result, TON has achieved a fully diluted valuation of over $27 billion and daily average trading volume surpassing $743 million. In the past week, TON's price increased by over 12 percent, currently trading at approximately $5.44. Following a rebound from a support level above $4.6, analysts predict a possible 2X price rally for TON by year-end.

Notcoin (NOT) on the Cusp of 170% Rally

Notcoin (NOT), a rapidly growing Telegram mini app based on the TON blockchain, has positioned itself as a strong contender within the meme coin sector. It holds a fully diluted valuation of about $840 million and an average daily trading volume around $620 million. Recently, NOT's price rose over 14 percent, trading at approximately $0.0082.

Launched a year ago, the Notcoin community on Telegram has expanded to over 18 million members, with more than 11 million holders. The TON blockchain's growth is supported by its connection to Telegram's user base of 1 billion.

According to trader Captain Faibik, NOT is nearing a bullish breakout from a falling wedge pattern. After being in a declining trend since June, NOT aims for a new bull cycle. If successful, NOT may see a price increase of at least 200 percent towards a new all-time high in the coming weeks.