Impact of Durov’s Arrest on Notcoin (NOT)

The recent arrest of Pavel Durov, the CEO of Telegram, on August 24, has triggered a notable decline in the valuation of Notcoin (NOT). Before the incident unfolded, NOT was valued at approximately $0.0088. However, following the adverse news, there has been a drastic decrease of 20% in its price. This selling pressure poses a substantial risk for NOT, potentially pushing it down to its historical low of $0.0046, a level that investors last saw on May 24.

Current Status of NOT Trading

In light of these recent price fluctuations, the number of active addresses engaging in trades with Notcoin has sharply diminished over the past week. According to data provided by IntoTheBlock, there has been a staggering reduction of 76% in the number of unique addresses that executed at least one NOT transaction during this timeframe. Furthermore, the demand for the altcoin has declined severely, evidenced by a 77% drop in the creation of new addresses designed for transacting with NOT last week.

Typically, when an asset experiences a decline in both daily active users and the formation of new addresses, it signals a downturn in market engagement and a potential erosion of market sentiment. Despite the sharp decline in trading interest, it appears that whale investors are taking advantage of the situation, leading to an increased accumulation of the token among large holders. Net holdings of these substantial holders surged by 312% in the last week, reaching a noteworthy high of 15.33 billion NOT on the day of Durov’s arrest, which has had ripple effects on the pricing of assets related to Telegram.

Analyzing NOT Prices

Technical indicators are currently indicating the possibility of further declines in NOT’s value. The Chaikin Money Flow (CMF) is observing a downward trend, having reached a 30-day low of -0.22. A CMF value below zero typically signifies market weakness, suggesting that liquidity is exiting the market, a signal that often precedes additional price decreases.

Additionally, the Relative Strength Index (RSI) for NOT stands at 35.50, which is significantly below the neutral level of 50. This value indicates excessive selling pressure compared to buying activity, which aligns with a bearish market outlook. If the current trend of selling persists, the altcoin’s price could decline to an unprecedented low of around $0.00031. However, should there be a resurgence in market sentiment and demand, prices could potentially rise back towards $0.013.

Investor Tips on NOT

Investors looking into Notcoin should take note of the following considerations:

• A significant 76% drop in active addresses points to declining market participation.
• A 77% decline in new addresses indicates reduced demand for the altcoin.
• Increased accumulation by whales may signal potential for future price recovery.
• Current technical indicators suggest continued bearish trends in the short term.

In summary, the arrest of Telegram’s CEO has dramatically affected the value of Notcoin, resulting in marked decreases in trading volume and the establishment of new user addresses. Nevertheless, the trend of whale accumulation could provide a glimmer of hope for future price movements. Your insights on these developments are valuable; I encourage readers to share their opinions and engage in discussions about their expectations for Notcoin going forward.