Why is C98 Coin Pumping? Top Analysts Eye $1 Target As DWF Labs Investment Fuels Impressive Uptrend
Coin98 has been making headlines in the crypto community today. The coin has witnessed a significant 20% surge, positioning itself as one of the day’s most notable gainers. Currently trading at $0.16, many are left wondering: what’s fueling this impressive uptrend?
Recent news reveals that DWF Labs, a prominent name in the crypto space, has invested in Coin98. This development has undoubtedly contributed to the coin’s bullish momentum. But that’s not all. Several top-notch analysts and traders have been closely monitoring the coin’s movement and have shared their insights on Twitter.
Famous Twitter analyst, Digital Nomad Woman, @taqwaayub, highlighted the potential of $C98, especially after DWF Labs’ investment.
She mentioned, “Eyes on $C98, since DWF labs (same MM of $Dodo & $Ygg) has invested, if we break 1 day resistance we might go to the levels highlighted!”
Well-known trader, Team LAMBO @TehLamboX, also weighed in, noting that $C98 is at a crucial weekly resistance.
He stated, “$C98 at the weekly resistance. This has corrected 98% from the top and now looking to breakout. 0.20$ the downtrend will end, keep an eye on this one. My target will at least be 1$. Major Trendline getting Weaker, expecting Breakout Soon.”
Technical analysis expert, Crypto Feras, shared his long-term perspective, tweeting, “C98 is pumping, testing its HTFs SR here. Flipping this means we end up forming bullish deviation/reclaim structure, which can send it way higher.” He further emphasized his belief in the project, mentioning that he’s a long-term investor in this promising Binance IEO DeFi project.
However, it’s essential to note that while the coin has seen a surge, it has also broken its support level. Currently, $C98 is trading under the trendline, which has led to long positions being affected by the stop. The next support level for the coin is anticipated to be in the $0.122-$0.126 range, which might be tested before any subsequent moves.
Understanding Coin98 (C98)
Coin98, denoted as C98, is the native utility token powering the Coin98 DeFi platform. This versatile token operates on multiple blockchains, including Ethereum, Binance Smart Chain (BSC), Solana, and Polygon. Serving as the lifeblood of the Coin98 ecosystem, C98 tokens are pivotal for various operations.
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Show more +Token holders can actively participate in network governance, earn transaction fees, and engage with the broader Coin98 ecosystem. Moreover, holding C98 tokens grants users access to a tiered system, unlocking exclusive privileges and premium events based on the amount of C98 in possession.
You can check our C98 price prediction here.
The token’s design aims to foster a self-sustaining, closed-loop economy. Network fees collected are either redistributed as incentives to active contributors or allocated for future product enhancements. With 185 million coins currently in circulation and a cap set at 1 billion coins, C98 is not just a utility token but also serves as the platform’s governance coin.
At its core, Coin98 aspires to be a comprehensive blockchain platform that aggregates DeFi services, simplifying and enhancing accessibility for newcomers to the decentralized finance world.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
