JasmyCoin, the native token of the Japanese company Jasmy Corporation, has emerged as the top gainer among the leading 100 cryptocurrencies in the past 24 hours. Investors are discussing further bullish momentum on social platforms, leading to a surge of 7% in the value of JasmyCoin (JASMY), which is currently trading at $0.032.
With a market cap surpassing $1.5 billion, JasmyCoin now ranks as the 53rd-largest digital currency. The daily trading volume of JASMY has increased by 102%, reaching $224 million. This significant growth in trading volume can be attributed to the token’s price rally of 12% on July 27.
According to data provided by Santiment, the social activity surrounding JasmyCoin has been steadily increasing over the past five days. The JASMY social volume has surged by six times since July 23, indicating a growing interest from investors.
The exchange activity for JasmyCoin has also seen a notable increase, with the exchange inflow rising from 65.4 million to 105.3 million tokens in the past 24 hours. This movement suggests potential short-term profit-taking as JasmyCoin reached a local high of $0.033 on July 27.
However, despite the surge in exchange inflow, more tokens have been leaving the exchanges than entering them. The JasmyCoin exchange inflow rose from 58.2 million to 86.6 million coins in the past 24 hours, indicating that investors may be looking to take profits if the JASMY price continues to rally.
The Relative Strength Index (RSI) for JasmyCoin is currently sitting at 61, suggesting that the asset is slightly overbought at its current price point. Given the high volatility of the cryptocurrency market, a price correction may be expected in the near future.
Overall, JasmyCoin’s recent performance has positioned it as a top gainer in the cryptocurrency market, driven by increased social activity and investor interest. As the token continues to attract attention, it will be interesting to see how its price evolves in the coming days.