JasmyCoin Surges 14% as Whales Buy $8.47M

JasmyCoin (JASMY) experienced a significant price surge of 14% within the last 24 hours, reaching a high of $0.0159. This sudden increase in price was driven by substantial buying activity from major whales, including Binance, Bybit, Bitturk, and Bitvavo. These entities collectively purchased $8.47 million worth of JASMY, which significantly impacted the token's price dynamics.

Binance, in particular, now holds 9.2% of JASMY’s total supply, valued at approximately $72 million. This substantial holding by Binance sends a strong signal to the market, indicating either confidence in the token's future prospects or potential caution from retail traders who may be preparing for a pullback. The accumulation of such a large percentage of JASMY's supply by a major exchange like Binance can lead to increased market attention and potentially drive further price appreciation for the token.

In addition to whale activity, JasmyCoin entered a Fair Value Gap (FVG), a price area where buyers typically step in, driving the price higher. The key resistance for JASMY currently lies at $0.01615. If this level is broken, the coin could rally as much as 97%, potentially reaching $0.03196. However, prices in the crypto market do not always move in straight lines, and there is a possibility that JASMY could pull back into the FVG, gather more buying power, and then attempt to rally again.

Despite the recent price surge, technical indicators suggest that buyer fatigue may be setting in. The Money Flow Index (MFI) currently reads 76.82, close to the overbought zone of 80. When this number gets too high, it usually means that buyers are getting tired, and a price drop could follow. Similarly, the Relative Strength Index (RSI) is currently at 56.80 and heading downward. If it falls below 50, it could confirm a bearish trend, increasing the chances of a price dip.

While whales are actively buying JASMY, the broader market shows signs of doubt. Many traders are now betting against JASMY, with short positions starting to dominate. Sellers are even paying premium fees to buyers, a rare situation that signals stronger bearish sentiment. If this trend continues, the selling pressure could outweigh the whale activity, dragging prices down.

At this point, the future of JASMY is uncertain. Whale accumulation has clearly kicked off the current rally, but without broader market support, it may not last long. If JASMY can break above $0.01615 and maintain momentum, a big breakout could follow. However, if buyer fatigue and bearish indicators take over, we could see the token dip back to lower support levels. In simple terms, JASMY is at a crossroads. It either climbs higher with stronger backing or slips as short sellers gain control. Crypto is often driven by emotion and big players. While the Jasmy price surge looks impressive, it’s important for smaller investors to watch the signs and stay cautious. Whether you’re team “buys the dip” or “waits and sees,” JASMY’s next move will be one to watch closely.