Notcoin’s token value crashed post-airdrop due to intense market sell pressure. After its May 2024 launch on TON, $NOT surged to a $1B FDV but dropped over 85% within a week. Key factors include profit-taking by early adopters—35M users—who sold airdropped tokens, flooding the market. High initial hype and listings on Binance amplified volatility, while low liquidity couldn’t absorb the sell-off. Posts on X note rapid declines linked to staking unlocks and whale dumps, with limited buying support. This mirrors trends in tap-to-earn tokens, where post-airdrop enthusiasm fades fast.