Cajutel (CAJ) crypto is in the spotlight as the broader digital currency ecosystem resumes its uptrend. At the time of writing, CAJ’s price was trading at $0.2352, up 11% in the past 24 hours.
This price outlook underscores a resilient boost from the token amid intense volatility, as seen in the broader market.
After dropping as low as $0.2002, the swift recovery of CAJ price has increased its overall social mentions.
Cajutel Crypto and the $2 CAJ Price Run
Market sentiment is always changing, showcased by the Cajutel Crypto project. Over the past 24 hours, the coin has recorded over 8% surge in daily trading volume. This pegs this metric at more than $29,000 as of writing.
Having retested the $1.97 price overnight, the $2 level has posed a significant barrier for Cajutel Crypto.
As such, breaching this immediate resistance level marks a major hurdle confronting CAJ whales and traders.
– Advertisement –
For a digital currency that has been trading since 2019, CAJ price in the spot market has formed a pattern.
The asset has a history of sharp price movements, setting the pace for its All-Time High (ATH) value of $158.02.
For the first time since March 2019, when it breached this milestone, the Cajutel crypto project has a true chance to pare off the 99% loss accrued thus far.
The market is experiencing a bull run, and the price of Bitcoin has soared above $103,000.
As an altcoin with positive volatility trends, the token may ride the growing Bitcoin rebound to cross its local highs.
While there are chances the coin could correct its bullish momentum, it has formed strong support around $0.2.
Under bullish circumstances, CAJ price may reclaim the $5 mark in the coming week.
Cajutel Fundamentals Back Its Growth Prospects
The Cajutel Crypto project seeks to bring high-speed internet to West African countries. The central idea is to gain a share of the telecommunications industry by leveraging renewable energy and blockchain-based solutions.
As a revolutionary project, Cajutel originates in Guinea Bissau, a region considered a virgin product market.
Cajutel Sarl, a Swiss-owned company, launched the project to bring affordable high-speed internet to users.
The parent company has explored other business ventures in the past. Most notably, it helped WikiLeaks with credit card payments in 2010.
With its deep tech focus, Cajutel Crypto is convinced it can bring change to the digital space through CAJ.
The token’s launch proved the high anticipation for the product in the market. When it wrapped up its Token Distribution Event (TGE), 336 individuals participated, and 600 ETH was raised.
For a project in a less-known capital market, this 600 ETH (now worth $2,260,734) marks a vote of confidence for Cajutel Crypto.
As an ERC-20, the CAJ token can connect more Cajutel users to the broader Web3 and digital ecosystem.
Despite the observable volatility of CAJ price, the project’s Real World Utility (RWA) leaning will help it sustain demand. This can ultimately help in stabilizing prices, and driving future growth.
