JasmyCoin is one of the best performing cryptocurrencies today and is up by 56% in the last 24 hours. Volumes have shot up, too, rising by 99% to $1.65 billion.
JasmyCoin is a Japanese cryptocurrency, one that Jasmy Corporation, an IOT company, backs. The company is known for trading data, with its online platform acting as a marketplace for those using data and those looking to use such data to offer services. The idea is to ensure that people have more control over their data, and Jasmy Corporation combines blockchain technology and The Internet-of-Things to achieve this goal.
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This use case of offering a secure environment for data storage and trading is one of the reasons why investors have so much confidence in JasmyCoin. However, it is just a part of the reason behind the increased price momentum.
Whales Taking Profits Has No Impact On Price Momentum
Another key factor that is driving FOMO around JasmyCoin is that the price has remained resilient despite profit taking by whales. Before the price of JasmyCoin took off a month ago, a whale bought 71 JASMY tokens, and after the recent 100% rally, sold a sizeable chunk of them, booking hundreds of thousands in profits. Ideally, such whale selloffs tend to affect the prices of small tokens. However, JASMY is different, and the price continues trending higher. This has ignited market confidence that JASMY is not a pump-and-dump, but a solid cryptocurrency that overall investors believe has a bright future ahead.
Favorable New Regulations In Japan
Even more important is that investors are bullish on the Japanese crypto market. The country is in the process of embracing regulations that will allow VC firms and other financial investment companies to buy and hold cryptocurrencies directly. This is a big deal as it will allow an increase in the flow of investments into Japanese cryptocurrencies. JasmyCoin being one of the most prominent of Japanese cryptocurrencies at the moment stands to see a surge in investments from such corporations. This explains the growing strength of the JASMY token even as the broader crypto market continues to trade sideways.
Also, JasmyCoin’s strong price momentum has seen more exchanges and wallets start to support the token. Recently, Guarda Wallet, one of the most popular non-custodial wallets announced that it was now supporting JASMY. This means anyone looking to buy and hold JASMY long term now has a place to store their tokens.
$JASMY has been integrated into #GUARDA #WALLET.
Guarda Wallet is a non-custodial wallet which allows users to buy, swap, send, stake, and hodl crypto.
We are going to make a significant announcement via our marketing channels!
We’re eager to explore a long-term cooperation.… https://t.co/3h4uTbiUmP— HARA (@HARA_JasmyCFO) February 12, 2024
For investors looking to buy JASMY today, the token is available on most of the top crypto exchanges. Among the best exchanges where the token is available include Binance, Gate.io, KuCoin and even Coinbase. JASMY is also available on top DEXs, such as Uniswap V3.
In the section below, we take a look at JASMY’s price potential to try and determine whether it can double in price today.
JASMY Crypto Price Prediction
When going to press, JASMY was trading at $0.01847 with volumes of $1.65 billion up by 99%.
JasmyCoin is currently gaining upside momentum with rising volumes. This has seen JASMY push through a local high it had made earlier in the day, a pointer to strong bullish momentum.
If bulls sustain the current momentum, and buying volumes keep rising, JASMY could make new highs above $0.019 within the day.
On the other hand, if buying volumes stall below $0.019, then two scenarios could play out. The first one is a consolidation between $0.019 as resistance, and $0.015, which is now a key intra-day support.
However, if profit taking after the recent rally leads to a selloff, the $0.015 support would come into focus. If bears can push JASMY through the $0.015 support, then $0.012 could be within reach in the day.
Why JASMY Could Gain By 100% Today
JASMY has the potential to do 100% in the day, and this has to do with the FOMO around it at the moment. JASMY has done well consistently for the past month, and with its price showing accelerated momentum, investors are likely to FOMO in, pushing the price even higher.
JASMY, unlike the many meme coins in the market, also inspires investor confidence. It is backed by an organization that offers a real product in the Japanese IoT space. This is likely to draw in investors looking for low-cost cryptocurrencies to buy today.
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