Notcoin Price Revives After Token Burns Restore Airdrop Borne FUD

NOIDA (CoinChapter.com)— NotCoin recently faced controversy during its airdrop event, when users exploited security vulnerabilities to claim more tokens than allocated. This raised concerns about the integrity of future token distributions, leading to a drop in Notcoin price.

Despite these issues, NotCoin continues to attract significant investor interest.

Market Performance and Response to Security Issues

In response to the exploit, NotCoin’s developers, Open Builders, announced plans to burn unclaimed tokens to stabilize the token’s value and prevent further issues.

The remaining tokens will fund future development to restore user trust.

The Notcoin recently announced the burning of $3 million worth of Notcoin from the emission. They plan to allocate $4.2 million as incentives for Gold and Platinum users of Notcoin Explore, thanking them for their support.

The airdrop, which ended on June 16, allowed early adopters to claim tokens via a Telegram mini app.

The recent trading chart shows NotCoin consolidating around the $0.02 mark, with resistance at $0.018 and support at $0.013. An analyst suggested potential breakout or breakdown scenarios, which investors should monitor.

The analyst highlighted that NotCoin’s development roadmap could help enhance the token’s functionality and adoption. Moreover, the analyst claimed that the team’s response to the airdrop exploit and planned token burn could help rebuild trust in the project.

Notcoin Price Paints Recovery

The Notcoin token price recovered more than 30% WTD to reach a daily high near $0.0164 on June 26. The uptrend highlights the investors’ belief in the Notcoin token prices.

If the Notcoin price’s recovery rally fails, the token could drop to the support level near $0.0139. Moreover, a break below the immediate support might see NOT price testing the 0.236 FIB support near $0.0115.

Conversely, a continued uptrend would result in NOT bulls going up against the $0.0187 resistance. Flipping the immediate resistance could help the Notcoin price reach the 0.786 FIB resistance level near $0.023.

The relative strength index for the recently launched token remains neutral, with a score near 52.28 on the daily charts.

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