The cryptocurrency market has been going through a period of decline and neutrality since March, but there seems to be an increase in positive sentiment. Additionally, certain cryptocurrencies are trending due to their predominantly negative outlooks. It’s important to note that community sentiments in cryptocurrencies can always change, and trending projects do not always reflect their underlying fundamentals. However, social indicators and public opinion can potentially have an impact on the short-term price movement of a cryptocurrency. Santiment has provided data pointing to two cryptocurrencies that investors might consider this week.
Notcoin (NOT) and Toncoin (TON) Comments
The social index provided by Santiment seems to indicate a downward momentum for Notcoin, particularly after users reported issues with withdrawing funds from Binance and TON wallets. The AI summary provided by Santiment reveals the following results:
On the other hand, the sentiment surrounding NOT appears to be bullish, with successful cash withdrawals, trading opportunities, and listings on cryptocurrency exchanges.
Speaking of Notcoin’s fundamentals, it emerged as a reward token for a Telegram game that aims to attract users to The Open Network (TON). The initial negativity surrounding NOT stemmed from the general perception of Toncoin, the native token of the TON blockchain to which the game is linked.
TON Price Outlook
Toncoin has been attracting attention with its impressive performance since the beginning of 2024. After a 228% increase over the past year, it is currently trading at $6.58. The structure of TON aims to establish strong long-term foundations by successfully integrating investors and developers into its ecosystem.
Furthermore, some technical indicators on the TON side suggest that the token might maintain its current prices or even rise, despite existing sentiments. TON continues to trade above its 30-day exponential moving average (30-EMA), while the Relative Strength Index (RSI) indicates a strong structure.
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Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and they should conduct their own research.
