In the cryptocurrency market, the positive sentiment seems to be increasing after the decline and neutral dominance since March. Additionally, some cryptocurrencies are trending due to their mostly negative outlooks. It is worth noting that the sentiments of communities in cryptocurrencies can always change and trending projects do not always reflect their fundamentals. Nevertheless, social indicators and public opinion can potentially impact the short-term price movement of a cryptocurrency. Data provided by Santiment pointed to two cryptocurrencies that investors might pay attention to this week.
Comments on Notcoin (NOT) and Toncoin (TON)
Especially the social index provided by Santiment appears to reflect a downward momentum for Notcoin following the reported withdrawal issues with Binance and TON wallets. The AI summary provided by Santiment reveals the following results:
The crypto project Notcoin seems to be facing some negative sentiments on social media platforms. Users are expressing their frustrations as they cannot receive their Notcoins, experiencing significant drops in their balances, and facing issues with exchanges.
On the other hand, a bullish outlook was noted for NOT concerning successful cash withdrawals, trading opportunities, and cryptocurrency exchange listings.
Speaking of Notcoin’s foundation, it emerged as a reward token for a Telegram game designed to attract users to The Open Network (TON). The initial negativity about NOT stemmed from the general perception of Toncoin, the native token of the TON blockchain to which the game is linked.
The main reasons for the decline in the TON project include concerns about the functionality and reliability of the TON wallet, with users reporting issues with deposits, withdrawals, and transfers.
TON Price Outlook
Toncoin has garnered all the attention with its remarkable performance since the beginning of 2024. After a 228% increase over the past year, it is currently trading at $6.58. TON’s structure aims to provide solid long-term foundations by successfully incorporating investors and developers into the ecosystem.
On the other hand, some technical indicators for TON suggest that the token might maintain its current prices or rise despite existing sentiments. TON continues to trade above its 30-day exponential moving average (30-EMA), while the Relative Strength Index (RSI) continues to indicate a strong structure.
