Notcoins stock price drops by 14 signaling instability in the new beginning

CoinDesk reports:
The token of the click game Notcoin fell 14% in a larger market sell-off today. More importantly, the mocked new beginning seems to have left fans confused about the project’s direction.
Last week, a mysterious message in a Telegram chat pointed to a “new beginning” for the project, hinting at a possible collaboration with the Open Network (TON) NFT project Lost Dogs.
On Wednesday, a mysterious text posted on social media began a new narrative for the Telegram game, where a dog is born from Notcoin. Many seem confused about the project’s direction rather than excited about the community.
“What’s going to happen to Notcoin,” a message in the Lost Dogs Telegram chat wrote. “Boring, bro,” another person said. A disgruntled investor replied, “Notcoin is dead.”
This week, Notcoin’s price dropped by 31% to $0.00999. This happened amidst a general downturn in the cryptocurrency market, with Bitcoin falling 10%, Ethereum falling 15%, and the broader GameFi category defined by CoinGecko falling 23%.
In addition to this new beginning, the project also announced its “Explore” platform, which will allow the discovery of new projects through Notcoin’s Telegram application.
For players, Explore will introduce them to new Telegram games in exchange for rewards—up to $0.20 for each completed activity. For game developers, their projects will be introduced to over 40 million users. However, developers must provide at least $20,000 worth of Notcoin tokens to fund the rewards.
Furthermore, Notcoin also announced a partnership with the gaming solutions company Helika to launch the Telegram Game Accelerator. This initiative aims to help game developers lead the next wave of Telegram-based mini-applications.
According to the announcement, the first round of applications will open next week.
Despite all these announcements, Notcoin remains in a loss-making state, ranking as the fourth biggest loser among the top 100 cryptocurrencies this week, trailing behind Pepe and Lido DAO by less than a percentage point, slightly behind Core.
Edited by Stacey Elliott.