Notcoin is experiencing a 14% decline today, facing its first major challenge since its launch in May. On the other hand, the new Play-to-Earn cryptocurrency PlayDoge is thriving as its presale surpasses $4.6 million.
Deep liquidations have impacted the cryptocurrency market, leading to significant selling pressure on Notcoin. Bears are dominating the market, with Coinglass reporting over $400 million in long liquidations in the past 24 hours, compared to just $50 million in shorts. Particularly concerning is the fact that over $200 million of these liquidations occurred in the last four hours.
This market turmoil is a result of unfavorable macroeconomic conditions, as highlighted by the recent U.S. Federal Open Markets Committee meeting’s decision to maintain interest rates instead of cutting them as expected. Adding to the disappointment is the outflow of $580 million from the Bitcoin ETF market last week.
Despite the challenging market conditions, PlayDoge continues to perform well in its presale, raising over $4.6 million in just a few weeks. Drawing inspiration from the popular 1990s game Tamagotchi, PlayDoge offers users the opportunity to earn real crypto rewards by taking care of virtual pets. The game’s native utility token, $PLAY, can be staked and used for in-game purchases, adding to its appeal among meme coin and Play-to-Earn enthusiasts.
Leading industry analysts are optimistic about the potential of $PLAY, with ClayBro suggesting significant gains in the future. Investors can currently purchase the token for $0.00509 during the presale, with incremental price increases scheduled. To secure the best price, interested individuals should act quickly before the next price hike in eight hours.
