JasmyCoin leads the pack in gains amidst rising social engagement
JasmyCoin has emerged as the top performer in the past 24 hours among the top 100 cryptocurrencies, with investors discussing the possibility of further bullish momentum on various social media platforms.
The native token of the Japanese company Jasmy Corporation, JasmyCoin (JASMY), saw a 7% surge in the last day and is currently trading at $0.032. Its market cap has now exceeded $1.5 billion, ranking it as the 53rd largest digital currency in the market.
Over the past 24 hours, JASMY’s trading volume has seen a significant increase of 102%, reaching $224 million. On July 27, JasmyCoin experienced a notable price rally of 12%, positioning it as one of the top gainers during that time.
According to data from Santiment, social activity surrounding JasmyCoin has been steadily increasing over the past five days, starting from a trading price of $0.029 before dropping to $0.025. The social volume for JASMY has increased sixfold since July 23.
Market intelligence indicates that the exchange inflow for JASMY has surged from 65.4 million to 105.3 million tokens within the last day. While the token briefly reached a local high of $0.033 on July 27, the increase in exchange inflow suggests a potential for short-term profit-taking.
However, the amount of tokens leaving the exchanges has surpassed the inflow, with the number rising from 58.2 million to 86.6 million coins in the past day. This disparity indicates that investors are considering profit-taking opportunities if the JASMY price continues to rise.
Santiment’s data also reveals that the JasmyCoin Relative Strength Index currently stands at 61, suggesting that the asset may be slightly overbought at its current price level. Given its high volatility, a price correction could be anticipated in the near future.
