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. Furthermore, certain cryptocurrencies are currently trending due to their predominantly negative outlooks. It is important to note that community sentiments towards cryptocurrencies can always change and trending projects do not always reflect their underlying fundamentals. However, social indicators and public opinion can potentially influence the short-term price movement of a cryptocurrency. Santiment has provided data pointing to two cryptocurrencies that investors may want to consider this week.
Comments on Notcoin (NOT) and Toncoin (TON)
Santiment’s social index indicates a downward momentum for Notcoin, particularly after users reported withdrawal issues with Binance and TON wallets. The AI summary provided by Santiment reveals the following results:
On the other hand, there is a bullish outlook for NOT, with successful cash withdrawals, trading opportunities, and cryptocurrency exchange listings.
Speaking of Notcoin’s fundamentals, it was created as a reward token for a Telegram game aimed at attracting 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 gained significant attention for 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 effectively incorporating investors and developers into its ecosystem.
On the other hand, some technical indicators for TON suggest that the token may 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 should conduct their own research.
