In the crypto ecosystem, meme coins have captivated investors with their high-risk, high-reward potential. Icons like Dogecoin and Shiba Inu have paved the way, leading to a surge in meme coin launches.
Amidst this crowded field, Notcoin (NOT) stands out, as highlighted by crypto analyst Alex Krüger.
Notcoin Achieves 40 Million Users
Indeed, according to a Dune dashboard, over one million new tokens were introduced in April alone. This eclipsed the total number of tokens ever created on the Ethereum blockchain.
However, Krüger emphasizes that traditional meme coin strategies are losing their effectiveness.
“The odds of a new meme coin succeeding by following the same old approach are very close to zero at this point, regardless of how well-connected the team may be. Meme coins need new mechanics, such as those seen with Notcoin,” Krüger stated.
Read more: What is Notcoin (NOT)? A Guide to the Telegram-Based GameFi Token
Notcoin operates on The Open Network (TON) as a mini-app within Telegram, introducing unique gaming elements that have captivated a broad audience. The project recently announced an impressive milestone, having secured 40 million users.
“These are the activated users from the database, not from web analytics tools that multiply number of users by their sessions and now show 500 million Notcoin users,” the Notcoin team clarified.
This significant user base has catapulted Notcoin into the spotlight, briefly landing it among the top 50 cryptocurrencies. However, it is currently trading at $0.016, reflecting a 14% decline over the past 24 hours — its market cap stands at around $1.6 billion.
The project benefits from the endorsement of high-profile tech figures, such as Pavel Durov, CEO of Telegram. Durov’s strategy highlights his belief in Notcoin’s potential.
Initially, the Notcoin team donated $6.8 million worth of NOT tokens to Telegram. Aiming high, Durov envisions his Notcoin holdings reaching a staggering $680 million. He has also lauded the project for fostering “the largest cryptocurrency community in the history of social media,” which benefits from Telegram’s extensive user base and scalability.
As meme coins evolve, they blend community-driven enthusiasm with speculative investment opportunities, with Notcoin exemplifying this new wave of digital assets.
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