💥💥💥💥💥
🤔Some of you just asked about $C98 , I know that posting about this project will get you more bricks than thanks 😅. But that's okay, my point of view is that praise or criticism is fine, because it's the different views of retailers that create the excitement of the market!
👉For me, C98 is a pretty good case to observe the crowd psychology and how MM drives the price to create liquidity zones. In addition, because this is a Vietnamese project, I can clearly understand what the dev team says, what the founder says, how the project is progressing, along with what the crowd out there is discussing about C98.
Below I will describe in detail how MM drives the price of C98, ensuring that after reading, you will gain a lot of experience to trade for profit and avoid chasing the top in the future. For those who are only interested in the buying and selling zones, please scroll down to the note section at the bottom!
------------
Back in July 2021, when C98 was newly listed. In principle, to attract liquidity, a project needs to attract the attention of the crowd (in other words, marketing). To do this, there are 2 most effective ways: Method 1 - INFORMATION Marketing and Method 2 - PRICE LINE Marketing.
💥With METHOD 1, (Information marketing)
The dev team really did a great job in terms of communication when C98 was chosen for the Binance launchpad, and also listed a series of other top market exchanges such as Coin-Ba-se, Kra-ke-n or By-Bit. I'm not sure about their specific strategy, but maybe at that time Binance was promoting support for DEFI projects to expand the ecosystem, and C98 happened to be working in the Wallet segment so it had the advantage??? 🤔
In addition, mid-2021 was also the period when the community was suffering heavy losses due to the shocking drop in BTC, most of their accounts were broken because of chasing the altcoin peak (you can check the chart again). However, by the end of July and the beginning of August, Bitcoin suddenly increased sharply from $30k - $60k, helping many altcoins recover. Once again, C98 had the perfect timing when listing the token at this time, thereby creating a significant fomo effect, as everyone was anxiously looking for a big pump to hope to get back to shore.
👉👉(Why? Why did they know about BTC's rising wave in time to list the token?? Was it luck or experience?? You guys can judge this yourself!😅)
Another factor that I think helped C98 market well in Vietnam is that there are very few Vietnamese projects listed on Binance. If I remember correctly, at that time there were only 4 Vietnamese blockchain projects with a capitalization of 1 billion USD including AXS (Axie Infinity), KNC (Kyber Network), TOMO (Tomochain) and C98. Actually, the title "technology unicorn" (used to refer to billion-dollar projects) is quite "cool" and attractive enough to attract the cash flow of the retailer crowd 😅.
💥With METHOD 2 (Price line marketing)
C98's team uses a method of pushing the price as high as possible, then gradually liquidating the token as the price dumps down.
Specifically:
Step 1:MM took advantage of the period when BTC was hot from 30k - 60k$, to pump the price of C98 up 6 times (from 1 - 6$). Then, when the crowd was hoping for a super cycle wave of Bitcoin 120k$ and rushed to buy regardless, MM quietly took profits, causing the price of C98 to be stuck in the range of 3 - 4$ for 2 months, unable to increase or decrease further.
Step 2: When the FOMO weakened, MM deliberately caused the price of C98 to break through the $3 support level, quickly rushing to lower levels and only being held at $1.
Why $1 and not another support level? Simply because $1 is the base price zone that C98 created when it was first listed on the exchange. Here, the crowd will believe that the price has dropped many times (6 times), and cannot drop further, from there starting to average the price by DCA. As a result, MM takes advantage of this abundant liquidity zone to continue to take profits, causing the price to dump deeper.
Step 3: At this step, I think the retailer has run out of money, no more buying power, only funds and KOLs are unlocked tokens periodically and sold. MM also gives up, causing the price to drift freely. This step will only end when MM collects enough tokens to prepare for the next price manipulation.
------------------
Okay, if you have understood the 3 steps of MM's price manipulation as above. So what is your strategy with C98?
😎Remember, with tokens from the previous season, almost unlocked and with a deep dump price like this, you should choose the buying area according to CAPITALIZATION LEVEL and FUND PRICE.
👉Currently, C98's capitalization has fallen below $100 million. I think this is the level where you can start collecting C98, because competitors in the Wallet segment have also fallen to this valuation level.
👉In terms of price, C98 is fluctuating around $0.1, while the price of the funds purchased is $0.025 and $0.075. Thus, the price of C98 is 1.3 to 4 times higher than the fund price. => This is not too big a difference.
💵IN SUMMARY, with C98, my entry is 0.07 - 0.1$. Target x10 from the bottom, corresponding to the peak capitalization at 700 - 1 billion $.
The amount of capital I invest in C98 will not be large, probably about 5% of the total capital for altcoins.
😎😎If anyone dares to collect C98 like me or has any questions about any coin, please comment below!!
