JasmyCoin price has dropped 5% in the past 24 hours, trading at $0.031 per coin, and trading volume has dropped 18% to $166.9 million as of 4 a.m. EST.
The project recently announced a new campaign for JasmyCoin holders on DeGate, a DEX powered by ZK rollups.
According to the decentralized exchange’s post, the event revolves around an airdrop where holders who hold JASMY in their DeGate balance can earn USDC with an annual return of up to 11,00%.
Exciting news!
An event has started on DeGate, a DEX powered by zero-knowledge Rollup, for Jasmy holders!
Learn more now
@JanctionMGT
@HARA_JasmyCFO
$Jasmy
@DeGateDex
https://t.co/SLVaaeSjdC
— Jasmy-MGT (@JasmyMGT)
June 14, 2024
Despite the exciting news for the project and its token holders, the price of JASMY has retraced 13% within a week after a brief surge.
Currently, the token’s price seems to have found strong and stable support at $0.030, although there doesn’t seem to be strength to bounce back. Even so, a strong rally across the market could turn the tide for JASMY.
JasmyCoin Price Prediction
JasmyCoin has seen a sharp drop in the few days between June 17 and today. However, as is often the case, a sharp correction in price often leads to a new rise during a rebound.
While JASMY could see a price rally in the coming hours and even days, multiple technical indicators suggest that its recovery is likely to be rather modest, if at all.
For example, the coin’s Bollinger Bands have narrowed significantly over the past 12 hours, coming closer together than at any point in the past few days. This is a bearish signal and does not indicate a strong recovery is imminent.
The coin’s Relative Strength Index (RSI) value dropped to the oversold zone about 24 hours ago and has since returned to the neutral zone and even approached the overbought zone, while the price recovery has been very mild, as shown in the above chart.
With the RSI so close to overbought territory and price barely reacting to this performance, it is reasonable to assume that JASMY should not expect a rapid rise in the short-term future.
As mentioned above, a broader market rally could allow the coin to break free of its own limitations and start behaving in a more bullish manner, assuming such a rally occurs. However, the crypto market is in very weak volatility at the beginning of the summer and may remain relatively inactive over the next few months, which is supported by historical data.
For JASMY, this means that the token will likely remain between the $0.030 support and $0.033 resistance levels, although this could still be affected by underlying fundamental factors.
Promising Alternatives to JasmyCoin
While JasmyCoin appears to have struggled recently, there are more promising alternatives for investors looking for good opportunities. One example is the popular new meme coin PlayDoge (PLAY), which has a mobile P2E game and raised $4.8 million in just three weeks.
PlayDoge brings the iconic Doge meme to life as a virtual pet in the style of Tamagotchi. Older readers will remember that Tamagotchi was a popular toy from the 1990s that conquered the world in record time.
The PlayDoge game allows users to have their own 2D digital pet, inspired by the Doge meme. They must feed, play with and train it regularly, and in return, their pet will allow them to complete mini-games and earn PLAY tokens as rewards.
In other words, the project combines gaming, memecoins, and the Play-To-Earn (P2E) model. All three have been gaining traction over the past few years, and this trend is expected to continue in the coming decades.
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pic.twitter.com/2Xx72kB8kG
— PlayDoge (@PlayDogeGame)
June 17, 2024
Many experts are excited about the coin’s potential, including YouTube channel Cryptonews, which speculates that it could be a 100x project.
PLAY tokens are currently available for only $0.00511. If you want to participate, you should buy them in less than three days.
Purchase PLAY tokens on the official website using ETH, USDT, BNB, or a credit/debit card.
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