- Not written off by 19.86% in the past week
- Notcoin’s Dip now leaves 100% of his holders out of the money
In the past week, Notcoin [NOT] Has seen strong downward pressure on the graphs. In fact, not fell from a local highlight of $ 0.0032 to a low point of $ 0.0022. Although it has tried to reclaim a higher resistance, the downward trend can still be in the game.
At the time of writing, Notcoin acted at $ 0.0023. This meant a decrease of 7.97% in the last 24 hours. Similarly, the weekly and monthly graphs did not fall, with 19.86% and 15.31% respectively.
This persistent decline has been a tragedy for notcoin holders. Consider this – all notcoin holders currently have no money anymore, according to the data from Intotheblock. What this means is that 0% of holders are in profit, while 100% of the holders are a loss, while there are no holders with the money.
Source: Intotheblock
When all holders are out of the money, it means that the time price of the press is lower than the prices against which all holders have acquired the crypto. Such a huge decline could see that some holders turn to panic sales to reduce losses, leading to more downward pressure.
On this level, giving up weak hands in the market, a final rinse could arise before he touches the soil.
Historically, if all addresses are losses, it can be an indication of an important soil as sellers are exhausted. That is why this means that the market could see another strong dip on the price charts, before a trend removal.
Is notcoin set for more losses?
With Notcoin holders who suffer mass losses, the analysis of Ambcrypto revealed that not the strong bearish sentiments flashed as the question fell and sellers dominated.
Source: Messari
This market preparation was proven by the fact that the fully diluted market capitalization of Notcoin fell to touch a low point.
Such a fall in market capitalization suggested that as the price was written off, it was not confronted with a considerable sale, while no new buyers entered the market. Simply put, there has been a low capital inflow in the network, which leads to more losses and extensive dominance of the seller.
Source: Intotheblock
This sales pressure becomes even more dominant among large holders.
According to Intotheblock, whales now no longer sell tokens than they buy. As such, the Netflow from the large holder fell from 4.81 billion to 15.8 million. This hinted that more whales are constantly becoming bearish and selling to reduce losses.
Source: Messari
Finally, the lack of capital inflow in Notcoin stemes from a greater risk that the active associated is associated. This risk can be evident from the fact that the Sharpe ratio decreased to achieve a negative value.
In fact, it did not seem to perform behind the risk -free assets, making it less attractive for investors. With a poor return compared to the risk, investors shy away from the way.
The prevailing circumstances do not position more losses on his price charts. Therefore, if the trend persists, we could not see any critical support of $ 0.0022 and a low 9 months of $ 0.0020. However, if sellers become exhausted and buyers take the opportunity to buy the dip, a reversal will try to $ 0.0031.
