$NOT
Dumped 3.86% in 24h, underperforming the broader crypto market (-2.5%).
Three key drivers:
Altcoin selloff – Bitcoin dominance hit 57.83%, draining liquidity from speculative tokens
Profit-taking – Traders locked in gains after NOT’s 4.09% 60-day rally
Technical breakdown – Failed $0.002 support triggered leveraged long liquidations
Deep Dive
1. Altcoin Liquidity Crunch (Bearish Impact)
Bitcoin’s dominance rose to 57.83% (from 57.17% yesterday), signaling capital rotation away from riskier assets. This aligns with crypto’s -2.5% market-wide drop and neutral Fear & Greed Index (43/100). NOT’s 24h volume of $43.1M represents 24.3% of its market cap – extreme turnover typically amplifies volatility during risk-off shifts.
What this means: NOT, as a gaming/meme token, is particularly vulnerable to sentiment swings. Reduced altcoin demand combined with NOT’s high circulating supply (99.4B tokens) creates asymmetric downside risk in thin markets.
2. Post-Rally Profit Booking (Bearish Impact)
NOT had gained 8.2% over 60 days before this pullback, prompting traders to secure profits. On-chain data shows increased exchange inflows, with a key CoinMarketCap community post noting $278K in outflows on August 5 (Cryptonewsland).
What this means: The lack of new catalysts (e.g., TON ecosystem updates or exchange listings) left the rally vulnerable to exhaustion. Retail traders likely dominated the sell-off, given NOT’s 35M+ user base from its tap-to-earn origins.
3. Technical Breakdown (Bearish Impact)
NOT breached the critical $0.00188–$0.00192 support zone identified in multiple analyses. The 4-hour chart shows three consecutive red candles with RSI(14) at 39.12 – not yet oversold. MACD histogram turned negative (-0.00001489), confirming bearish momentum.
What to look out for: A close below $0.001713 (August 25 low) could trigger cascading liquidations toward $0.00150. Conversely, reclaiming $0.00185 might stabilize the price.
