Here’s an analysis of why Notcoin’s token value crashed post-airdrop, focusing on market sell-off pressure factors, limited to 100 words:
The Notcoin airdrop, launched in May 2024, saw its token value plummet over 85% within a week due to intense sell-off pressure. With 35 million users receiving $1 billion in NOT tokens, many "airdrop farmers" immediately sold their free allocations on exchanges like Binance, flooding the market. The high fully diluted valuation (FDV) of $1 billion lacked sufficient liquidity, exacerbating the crash as buyers couldn’t absorb the supply. Community sentiment shifted bearish as short-term profit-taking dominated, with minimal long-term holding incentive, highlighting a classic post-airdrop sell-off pattern.