The token burn, which concluded on June 16, 2024, resulted in a significant market reaction.
Notcoin's price has seen an 11.25% recovery, reaching $0.0162 by June 19, just a day after the project's founder, CEO Sasha Plotvinov, announced a new roadmap for the cryptocurrency, according to BeInCrypto.
This burn is part of Notcoin's broader strategy to transition away from its initial click-to-earn model, which Sasha Plotvinov deemed unsustainable for long-term growth. Instead, the focus is now on integrating more sustainable and engaging mechanisms, such as the Notcoin app that allows users to earn tokens by participating in various Telegram-based games.
The reduction in supply through token burns is a common strategy in the cryptocurrency world, aimed at increasing the value of the remaining tokens by creating scarcity. This approach has been previously employed by other cryptocurrencies with varying degrees of success.
For Notcoin, the recent burn and subsequent market adjustments are setting the stage for a potential price rally, with some analysts predicting a surge of up to 100%.
In addition to the token burn, Notcoin's plans include expanding its ecosystem and increasing the number of campaigns to further stimulate demand and token utility. This multi-faceted approach is expected to not only stabilize the token's value but also attract a broader user base.
The success of above strategies could set a precedent for other crypto projects considering similar approaches to manage supply and drive value.
Notcoin, a Web3 game based on the TON blockchain, debuted in January as a Telegram mini-app, drawing over 35 million players. The creators believe NOT is unique among gaming tokens, highlighting that players own 100% of the coins by default.
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