• The Notcoin project has grown to a viral memecoin on the TON network backed by the vast Telegram community. 

• NOT price has already invalidated macro bearish sentiment following the recent altcoin surge.

The Notcoin (NOT) project has emerged as a top-tier memecoin in the Toncoin (TON) ecosystem in the past year. On Friday, May 16, the Notcoin community celebrated its first anniversary full of significant milestones led by on-chain holders and rewards distribution to the wider community.

In the past year, the Notcoin meme was listed by top-tier cryptocurrency exchanges led by Binance, ByBit, and OKX among many others. As a result, NOT token has managed to achieve more than 2.8 million on-chain holders, in addition to over $1 billion in DEX trading volume.

Moreover, the Notcoin team distributed more than $220 million to the community after the Tap-to-Earn program on Telegram messenger. As of this writing, Notcoin’s telegram account had more than 14.5 million members.

What Next for Notcoin Price?

The small-cap memecoin, with a fully diluted valuation of about $286 million and a 24-hour average trading volume of around $50 million, surged over 14 percent in the past two weeks to trade about $0.0028 at the time of this writing.

In the four hour timeframe, NOT price has been trapped in a correction phase in the past week after hiring a local high of about $0.0035 eager this week. However, NOT price is currently retesting a breakout from an inverse head and shoulders pattern, which could form the basis for a fresh rally towards its all-time high.

The short-term bullish sentiment for NOT price will be invalidated if the memecoin breaches the support level above $0.0028 and consistently closes below the right shoulder in the coming days.