JasmyCoin up 15% as whales accumulate, AI narrative strengthens
Main Idea
JasmyCoin (JASMY) surged 15% due to whale accumulation and low exchange reserves, with its AI narrative and technical indicators suggesting potential further gains.
Key Points
1. JasmyCoin's price rose nearly 15% to $0.01982, driven by whale accumulation and a supply squeeze, with 53% of circulating supply moving into whale wallets in July.
2. Technical analysis indicates a bullish breakout potential, with key resistance levels identified at $0.0226-$0.024, and higher targets at $0.09059, $0.1415, $0.19241, and $0.22387.
3. The token's rally is partly fueled by its association with the JANCTION Layer 2 testnet and the broader AI narrative, despite no formal partnerships announced.
4. Altcoin dominance has grown by 229%, with JasmyCoin benefiting from the shift away from Bitcoin dominance and increasing investor interest in smaller-cap tokens.
5. Analysts note that the recent price movement has cleared out weaker positions, allowing stronger holders to build, with the token nearing a $1 billion market capitalization.
Description
JasmyCoin (JASMY) is gaining momentum in the crypto markets, with its price rising nearly 15% over the past 24 hours to around $0.01982. The surge comes amid rising accumulation by whales and heightened interest in its AI infrastructure plans. JASMY is currently one of the top-performing altcoins, riding a broader wave of bullish sentiment across smaller-cap tokens. The rally has triggered speculation about further upside, with the token forming strong bullish patterns and drawing attention from...
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