JasmyCoin (JASMY), the IoT-focused Japanese cryptocurrency, has stunned investors in the past week by rising over 130%. JASMY is now trading for $0.0148, marking its highest value since May 2022.
This impressive surge has led to questions about which hidden gem could be next to breakout. Meme Kombat (MK) is emerging as one possibility.
JasmyCoin’s Rise & Fall Highlights Volatile Nature of the Crypto Market
The sheer speed of JasmyCoin’s rise has turned heads in the crypto market.
Last Thursday, JASMY hit a 52-week high of $0.0188, demonstrating the bullish momentum driving the coin’s price.
However, like many cryptocurrencies that experience a vertical rally, volatility has followed.
A dip on Friday followed by a recovery on Saturday couldn’t prevent another slip yesterday.
Further emphasizing the volatile nature of JasmyCoin’s journey, trading volumes have dipped 57% in the past 24 hours.
Additionally, the coin’s market cap has fallen to $731 million – taking JASMY out of the top 100 largest cryptocurrencies globally.
It seems after JASMY’s rapid rise, traders may be taking profits and reducing their exposure for the time being.
This stabilization period often occurs after such a significant price spike and usually leads to a major support or resistance level being formed.
So, while JasmyCoin’s climb was remarkable, the recent pullback hints that the buying frenzy might be cooling off, at least temporarily.
What is JasmyCoin & What Fueled the Price Rise?
But why has JasmyCoin (JASMY) been gaining so much traction lately?
JasmyCoin is a utility token built on Ethereum designed for use on the Jasmy platform.
This platform aims to democratize data by leveraging blockchain and Internet of Things (IoT) technology.
The developers aim to give users the same level of control over their data as they have over their own money in their wallets.
The Jasmy project, often called “Japan’s Bitcoin,” was founded in 2016 by a team with deep experience in electronics and telecommunications.
Yet, over the past few years, JASMY has gone under the radar as investors slept on its real-world utility potential.
Last week, changes in Japan’s regulatory environment brought renewed attention to JasmyCoin.
The Japanese government has begun adopting a more favorable stance to venture capital (VC) investment in crypto projects.
As a result, investor confidence in Japan-based cryptos like JasmyCoin has rocketed, leading to the price pump seen recently.
Meme Kombat Presale Offers Opportunity to Get in Early on Battle Arena Gaming
JasmyCoin’s impressive surge has shifted the spotlight to other potential gems in the crypto market.
One such project generating significant buzz is Meme Kombat, a new presale crypto aiming to shake up the meme coin space.
Meme Kombat will debut a revolutionary battle arena feature where users can wager their MK tokens on animated fights between meme characters.
Users can earn more MK through this setup while enjoying a hilarious gameplay experience with other community members.
Not only that, but users can stake their MK tokens simultaneously – generating yields of 95% per year.
Meme Kombat’s battle arena hasn’t yet launched, yet interested investors can buy MK tokens early through the ongoing presale.
The presale recently hit its $10 million funding goal, yet the developers have allowed further investment before MK’s first exchange listing, which is set to occur in just eight days.
MK tokens can be purchased through the presale for $0.279 using ETH, USDT, or BNB.
Once MK launches on exchanges and the Meme Kombat battle arena goes live, the project’s roadmap lays out plans for further seasons and ways to engage with the game.
Given the explosion in popularity of crypto gaming, Meme Kombat could be set to follow in JasmyCoin’s footsteps and produce impressive returns if the team can execute its ambitious plans.
DISCLAIMER: THIS IS A SPONSORED POST