JasmyCoin Surges 15% as Whale Activity and AI Interest Drive Price

JasmyCoin (JASMY) has experienced a significant price surge, rising nearly 15% over the past day. This surge has positioned JASMY as one of the top gainers in the market, currently trading at approximately $0.01962. The attention on JASMY is driven by a combination of bullish chart patterns, substantial wallet activity, and growing interest in its role within AI technology.

Data from CoinMarketCap indicates that about 53% of JASMY’s total circulating supply moved into whale wallets throughout July. Concurrently, exchange reserves dropped to their lowest point of 2024. This reduction in supply on exchanges and the increase in holdings by large investors can create a classic price squeeze, where fewer tokens available for purchase lead to upward pressure on the price.

This rally coincides with a broader surge in altcoins. Altcoin dominance has increased by 229% in the last month, while Bitcoin’s market share has dipped to 59.98%. This shift from Bitcoin to smaller-cap tokens has provided an opportunity for coins like JASMY to gain traction. The growing interest in AI-related projects and Web3 infrastructure further supports JASMY’s upward momentum.

According to chart analysis shared by top analyst Ron Pogi, JasmyCoin price has re-entered a key consolidation zone, often referred to as the Gann Box. The token has also formed a double bottom pattern, which is generally viewed as a bullish reversal signal. The pattern’s neckline lies in the $0.0226–$0.024 range, a level that analysts are watching for confirmation of sustained momentum.

The same chart shows a set of Fibonacci extension targets. These are $0.09059 (1.618), $0.1415 (2.618), $0.19241 (3.618), and $0.22387 (4.618). These levels have coincided with previous breakdown points in 2021 and 2022. If JasmyCoin price maintains its current trajectory and breaks the neckline, these extensions could become medium- to long-term technical levels to monitor.

Volume data supports the ongoing price movement. JASMY’s latest rally is accompanied by a spike in trading volume, with daily figures up more than fivefold. This increase aligns with the interpretation that the previous shakeout phase has cleared weaker positions, as noted by analysts tracking long-term wallet behavior.

A tweet from Saiyan1Kl observed that JASMY was once again approaching a $1 billion market capitalization after facing rejection at the $0.0202 level. The price pulled back to $0.0186 before continuing its climb, suggesting that bulls remain active within a developing range.

Another potential catalyst is JASMY’s involvement in AI infrastructure. The ongoing development of the JANCTION Layer 2 testnet, which uses Nvidia edge chips, has generated interest from speculative traders aligned with the AI narrative. Although no major partnerships have been confirmed, association with this sector has positioned JASMY within trending discussions around blockchain and AI convergence.

A mix of technical setups, market structure, and trending themes are all coming together for JASMY price right now. The price action shows that both retail traders and bigger players are starting to get involved. There are still some resistance levels up ahead, but in the short term, momentum is clearly leaning to the upside.