JasmyCoin has emerged as the top performer in the last 24 hours among the top 100 cryptocurrencies, as investors anticipate further bullish momentum on social media platforms.
The native token of Jasmy Corporation, JasmyCoin (JASMY), has seen a 7% surge in the past day and is currently trading at $0.032. With a market cap exceeding $1.5 billion, it now ranks as the 53rd largest digital currency.
On July 27, JasmyCoin experienced a significant spike in price, rising by 12% and becoming one of the top gainers. The daily trading volume also saw a notable increase of 102%, reaching $224 million.
Social activity surrounding JasmyCoin has been steadily increasing over the past five days, while the token’s price has fluctuated between $0.029 and $0.025. The social volume for JASMY has multiplied by six times since July 23.
Market intelligence data reveals that the exchange inflow for JASMY surged from 65.4 million to 105.3 million tokens in the last 24 hours. This movement suggests a potential wave of short-term profit-taking, especially after JasmyCoin reached a local high of $0.033 on July 27.
Despite the increase in exchange inflow, more tokens have been leaving the exchanges than entering. The JasmyCoin exchange inflow rose from 58.2 million to 86.6 million coins in the past day.
With the Relative Strength Index for JasmyCoin currently at 61, the asset is showing signs of being slightly overbought. This could indicate an imminent price correction due to its high volatility.
Investors are closely monitoring the situation and considering potential profit-taking opportunities if JASMY’s price continues to rally.