ambcrypto.com 
Notcoin [$NOT], the Telegram-linked cryptocurrency, has emerged as one of the top gainers across the crypto market over the past day.
The altcoin was up 25% on the 13th of June and appears to be drawing in weekend liquidity that is pushing its price higher. Sentiment looks strong, but what exactly does the data reveal about whether the move can hold?
AMBCrypto breaks down the factors behind the rally.
Are traders betting against Notcoin?
Perpetual market data showed a heavy inflow of capital shaping Notcoin’s short-term outlook.
Open Interest, which tracks capital committed to perpetual contracts, surged sharply. Positions on Binance and Bybit reached $3.1 million each, while total marketwide Open Interest climbed to $7.8 million.
Roughly 90% of that capital arrived in the past 24 hours. However, traders did not direct it toward the long side. Instead, they increased bearish exposure and positioned for a move lower.
The Funding Rate reinforced that stance, turning sharply negative to -0.1221% over the past day. As traders continued building short exposure, the reading suggested selling pressure was intensifying.
Why is Notcoin rising anyway?
Notcoin’s price climbed despite that bearish positioning, with the data pointing to a recent surge in retail interest.
Google Trends data showed a sharp rise in global search activity for Notcoin. Interest climbed to a reading of 35, signalling growing attention around the asset.
A fractal also appeared to be forming. The highlighted sections on the chart showed search interest ranging before previous upside moves.
That pattern produced a 92% jump in search interest between the 4th and 7th of May. The past two days alone delivered a further 31% increase between the 12th and 13th of June.
Can $NOT’s rally continue?
The bulls remained active, and rising Google search interest aligned with a similar consolidation phase before previous breakouts.
What strengthened the bullish case was Notcoin’s move above a key supply zone. A strong bullish candle also remained in formation.
The Accumulation/Distribution Indicator climbed alongside price, signalling that buyers continued accumulating $NOT token rather than distributing it. That added support to the bullish outlook.
Final Summary
- Notcoin gained 25% as rising retail interest helped offset growing bearish positioning in derivatives markets.
- Open Interest surged to $7.8 million, with most new capital entering during the previous 24 hours.
