Notcoin Forecast: Overall Market Gains and Token Burns Set Stage for All-Time High

Notcoin (NOT) has jumped by over 30% in the past two days to reach $0.0164 on June 26, mirroring gains elsewhere in the crypto market. However, the Toncoin-backed cryptocurrency has outperformed the broader crypto market, whose valuation has risen by a dwarfed 5% in the same period.

NOT Token Burn and Staker Incentivization

Traders turned their focus on NOT after the Notcoin team’s announcement on June 26, which revealed that it had burnt $3 million worth of NOT tokens, permanently removing them from supply. In the same announcement, the team said it had distributed $4.2 million worth of NOT among its most active staking participants.

Crypto traders typically view token burns as bullish events. That is primarily due to the classic supply-demand rule of economics: more tokens permanently going out of supply, coupled with rising demand, leads to price gains. Meanwhile, incentivizing stakers increases the network’s potential to attract more staking participants. These users also reduce the circulating supply by locking them away temporarily into the Notcoin pool.

These supply-reduction events have helped NOT outperform the broader crypto market. Interestingly, these events occurred two weeks after Notcoin founder Sasha revealed a four-year roadmap for the project, focusing primarily on building sustainable and efficient subsystems.

Meanwhile, these Notcoin fundamentals have set the stage for a bullish continuation move that may grow its market valuation by almost 70% in the coming weeks.

Notcoin’s Bull Flag Setups See 70% Price Boom

Notcoin’s ongoing recovery, triggered by the token burn and overall crypto market recovery, is part of a consolidation price trend occurring inside what appears to be a bull flag pattern. This pattern is characterized by two parallel, downward-sloping trendlines accompanying a decline in trading volumes and forms after a strong price uptrend.

Notcoin has been painting a bull flag pattern after its circa 1,350% price rally in May.

As a rule of technical analysis, bull flags resolve when the price breaks above their upper trendlines and rises by as much as the height of the previous uptrend. Applying the same principles to Notcoin’s current trend favors a bull run scenario toward $0.027, up around 70% from the current price levels, in July.

Conversely, the NOT price could swing below the flag’s lower trendline, invalidating the bullish continuation setup to eye a run-down toward its next support line at around $0.011.