Telegram-based Notcoin (NOT) is preparing for significant growth with projections of doubling its market value in the coming weeks. This optimistic outlook is supported by strong technical indicators and fundamental factors like the recent token burn within the ecosystem. On June 25, the Notcoin team announced that they had burned 210 million NOT tokens worth $3 million daily, a move that caught investors‘ attention and helped the 
price increase by 16.40% to reach $0.0164.
Notcoin Team’s Notable Steps
The Notcoin team announced plans to distribute NOT tokens worth $4.2 million to Gold and Platinum users of the Explore initiative. This initiative allows any project to contribute to the discovery pool and create campaigns with tasks for users who did not win upon completion.
Both updates fundamentally point to two bullish scenarios. For example, token burns permanently remove a portion of the token supply from active circulation; if demand for assets increases simultaneously, it is theoretically a bullish strategy.
Similarly, users earning NOT tokens for completing tasks ensures continuous demand for the asset as new projects and users join the platform. Both features are at the core of Notcoin founder Sasha’s four-year roadmap for the project.
The Notcoin project currently focuses on the Notcoin app, which includes campaigns allowing users to earn Notcoin by interacting with new Telegram games. The goal is to establish the app as a central hub for launching other ecosystem projects, increasing demand for Notcoin, and incorporating token burns.
NOT Chart Analysis
The price chart suggests that the ongoing price rise on the NOT front is part of a broader recovery after testing the lower trend line of the token’s current falling wedge pattern. Falling wedges are considered bullish reversal formations characterized by two converging, downward-sloping trend lines.
As a rule, they will resolve after the price breaks above the upper trend line and rises by the maximum distance between the upper and lower trend lines. Applying the same technical principles to NOT’s bullish scenario, the upward target for July could be between $0.023 and $0.031, representing a 45-100% increase from current price levels, depending on the breakout point. 
Conversely, the bearish scenario suggests that a break below the lower trend line of the wedge would completely invalidate the bullish trend and could take the NOT price down to the support level of $0.011 from May 31 to June 1.
