JasmyCoin Surges 15% as Whales Accumulate and AI Interest Grows

JasmyCoin (JASMY) has experienced a significant surge in the crypto markets, with its price increasing by nearly 15% over the past 24 hours, reaching approximately $0.01982. This upward momentum is driven by a combination of factors, including increased accumulation by whales and growing interest in its AI infrastructure plans.

JASMY is currently one of the top-performing altcoins, benefiting from a broader wave of bullish sentiment across smaller-cap tokens. The rally has sparked speculation about further price increases, with the token forming strong bullish patterns and attracting attention from both institutional and retail traders.

On-chain data indicates that around 53% of JasmyCoin’s circulating supply moved into whale wallets throughout July. Concurrently, exchange reserves have dropped to their lowest point this year, creating a supply crunch as fewer tokens are available for open-market purchases. This dynamic, where reduced exchange float and increased holdings by large investors, is often seen as a precursor to price squeezes. CoinMarketCap data supports this narrative, showing a clear shift in market structure and reinforcing the idea that accumulation is underway.

This shift in market structure coincides with a period of falling Bitcoin dominance, which dipped to 59.98%. Meanwhile, altcoin dominance has grown by 229% over the past month, suggesting that traders are rotating funds into mid and small-cap assets like JASMY.

Technical indicators for JasmyCoin show a promising setup. Chart analysis suggests that JASMY has re-entered the Gann Box, a zone often associated with key price consolidations and reversals. The token has also formed a double bottom pattern, a bullish reversal signal, with the neckline set between $0.0226 and $0.024. A breakout above this neckline could confirm sustained upward movement. Fibonacci extension levels based on the previous market structure place potential resistance at $0.09059, $0.1415, $0.19241, and $0.22387. These levels correspond to former breakdown points in 2021 and 2022, which could act as future technical targets if momentum continues. Analysts are closely monitoring these levels for medium to long-term direction.

One of the more speculative drivers behind the JASMY rally is its involvement in artificial intelligence infrastructure. The token is linked to the development of the JANCTION Layer 2 testnet, which integrates Nvidia edge chips. While no formal partnerships with major AI firms have been announced, the project’s alignment with the AI narrative has placed it among trending discussions at the intersection of blockchain and machine learning. This narrative boost is further supported by social media interest, with a tweet noting that JasmyCoin is once again approaching a $1 billion market capitalization after facing resistance at $0.0202. The price briefly fell to $0.0186 before rebounding, suggesting that bullish intent remains intact.

Although challenges lie ahead with resistance at the neckline, JASMY appears to be building momentum from a mix of technical indicators, market rotation, and thematic relevance in AI. The coming weeks may determine whether the token can sustain its current trend and push into higher resistance zones.