JasmyCoin Price Prediction: JASMY Posts 161% Weekly Gain Again, But Is This Other 100X Meme Coin the Best Cryptocurrency to Buy Right Now?

adminFebruary 26, 2024

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JasmyCoin price has traded up 165% over the past 7 days. $0.01596 As of 2:17 AM ET, it emerged as the week’s top gainer among the top 100 cryptocurrencies by market capitalization, ahead of Worldcoin (WLD), SingularityNET (AGIX), The Graph (GRT), and Uniswap (UNI). .

Weekly Top Gainers Snap | Source: CoinMarketCap

JasmyCoin Price Prediction: JASMY Heads for Correction

However, looking at the chart, JasmyCoin may be heading for a correction after the recent uptrend. Earlier, JASMY price action appears to have seen a significant upward trend followed by the formation of a bearish reversal pattern, a head and shoulders pattern, as indicated by the green arrow. As the right shoulder develops, the left shoulder and head are already formed.

If the pattern is completed with a right shoulder and the price falls below the neckline, acting as a support level bridging the low between the head and shoulders, it could signal a reversal in the current uptrend.

On the other hand, the funds flow index (MFI) is somewhat high at 57, but appears to be rapidly decreasing, as can be seen from the southern trajectory. This means that buying pressure is waning as MFI moves out of overbought territory. The Relative Strength Index (RSI) is neutral at 53, indicating that the current price action is neither overbought nor oversold. However, a southerly trajectory towards oversold territory now supports the outlook for a correction as investors look to sell for profits.

1-Hour JASMY/USDT Chart “ Source: TradingView

Meanwhile, as JasmyCoin price faces correction risk, Sponge V2 It is gearing up for launch on more major exchanges soon and aims to surpass its outstanding predecessor, Sponge V1. This gives those who missed out on last year’s 100x surge another opportunity to invest in Sponge.

A promising alternative to JASMY

The Sponge team decided to retire Sponge V1 earlier this month, moving more than 13,000 holders to the more secure and economical V2 on the Polygon network. After seamlessly migrating to Polygon Network, you can now earn and invest Sponge V2 tokens to earn an incredible 846% Annual Percentage Yield (APY).

📣 Caution, #Sponger!
Here is some important information to remember: $sponge V2!$sponge V1 is officially discontinued and V2 has been released. #polygon! 🔥
Learn more about token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024

SPONGE’s V2 token launch aims to leverage its P2E potential, reminiscent of projects from Floki and Decentraland. While Floki showcases fantasy-based peer-to-peer games and Decentraland focuses on virtual real estate, SPONGE plans to take players into the realm of Bikini Bottom.

P2E games bring more fun and addictiveness to the Sponge ecosystem while allowing players to earn $SPONGEV2 tokens by playing and ranking on leaderboards.

While users play for fun in the free version of the game, the paid version uses $SPONGEV2 tokens to purchase game credits, allowing participants to earn more $SPONGEV2 tokens.

Jacob Bury, a popular cryptocurrency analyst on YouTube, says Sponge V2 has 100x potential once it is released.

Go to the Sponge V2 official website here. To participate in the presale, connect your digital wallet to exchange USDT or ETH for V2 tokens. You can also make direct purchases using your bank card.