The Notcoin Boom: Nigeria tops global interest in gaming token
Recent data from Google Trends reveals that Nigeria is the country most interested in Notcoin (NOT), a gaming token on the TON blockchain. This surge in interest can be attributed to several key developments and events surrounding Notcoin over the past few months.
Researchers from CoinJournal.net analyzed global Google Trends data over the past seven days to identify the countries showing the highest interest in Notcoin.
Notcoin began trading with a fully diluted value (FDV) of $1 billion after being distributed via an airdrop and listed on several major exchanges, including Binance, OKX, and Bybit. In its first hour of trading, Notcoin racked up $294 million in trading volume, a testament to its popularity and the anticipation surrounding its launch.
The token, designed to onboard users to Web3 through a viral Telegram game, has a maximum supply of 102 billion tokens, with 3% allocated to Binance Launchpool users and 1.5% set aside for OKX Jumpstart users.
Community Engagement
Notcoin has experienced significant viral growth, boasting over 35 million users. Early adopters of the game accumulated Notcoin from January to April by clicking on a virtual coin and completing in-game challenges. These in-game balances were converted on a 1000:1 ratio upon the token’s launch.
The project’s unique “tap-to-earn” mining mechanic and the ability to earn tokens by discovering Web3 products and participating in various games have further fueled its popularity. As of now, Notcoin hosts almost 7 million people in its Telegram group and almost 2 million followers on X.
Market Dynamics So Far
Notcoin’s journey, marked by its initial hype and rapid adoption, took a swift turn as its value plunged nearly 50% shortly after the airdrop launch.
This pattern of massive sell-offs is a familiar scenario with many cryptocurrency airdrops. In particular, gaming tokens have struggled in 2024, underperforming compared to other crypto categories.
The significant drop in Notcoin’s value was largely driven by airdrop farmers offloading their tokens, resulting in a sharp price decline.
