Jasmycoin (JASMY): Whale Activity Surges as Price Rally Hits a Temporary Stall

Jasmycoin (JASMY), one of the more talked-about cryptocurrencies in recent weeks, experienced a significant surge in whale activity before its price rally hit a temporary stall.

As cryptocurrency markets continue to experience volatility, several coins have attracted attention due to their price movements and interesting鏈接. One such coin is Jasmycoin (JASMY), which has seen significant surges in whale activity. As of December 2024, the coin experienced a price rally that hit a temporary stall.

Throughout the past month, Jasmycoin has seen a remarkable surge in whale activity, with large investors making substantial moves. According to a post by user Brianq on Santiment Insights, JASMY was among the cryptocurrencies with a market cap exceeding $500 million. This marks a significant milestone, indicating the growing attention the coin has received from institutional and high-net-worth individuals.

The surge in whale transactions saw a massive 616% increase in the number of transactions exceeding $1 million. This surge is often seen as an indicator of either profit-taking or a sign of massive accumulation, both of which can have significant implications for price movement.

Over the past week, Jasmycoin's price recently tested local highs near $0.059, before retreating to lower levels. In the past five days, the coin has dipped to as low as $0.032, a key support level that has been identified as a demand zone based on price action earlier this year. Other notable demand zones around $0.04 have also been defended by buyers during this pullback, signaling that there is ongoing interest from investors at these lower price levels.

A technical analysis of Jasmycoin's market structure suggests that, despite the recent retreat, the overall trend remains bullish. The market is still in an upward momentum phase, although the recent pullback has led to some uncertainty in the short-term. For the rally to continue, trading volume must pick up again as it has recently receded during the pullback.

As Jasmycoin's price surged, the number of daily active addresses saw a notable rise in both November and December. This increase in activity is typical of a strong rally, as rising prices draw greater interest from both retail and institutional investors. However, the rising activity was also accompanied by a decline in the mean coin age, a sign that many holders were cashing out profits.

The recent uptick in whale transactions is another indicator that profit-taking has played a role in the recent price movement. As the price approached its local highs, some large holders decided to sell off their positions, leading to a temporary halt in the rally.

Furthermore, Jasmycoin's supply distribution provides additional insight into the recent price movements and the behavior of different cohorts of holders. Data from Santiment shows that different cohorts of holders began to buy and sell at varying times over the past ten days.

For instance, the 10k-10M wallet group started increasing their holdings on November 29, signaling a fresh wave of interest from mid-tier investors.

Meanwhile, wallets holding more than 10 million coins were net sellers until December 8, before reversing their position and beginning to increase their holdings again by December 9. This shift in behavior from large holders suggests that profit-taking is likely to have contributed to the price stall, but the continued accumulation by whales could signal that the bullish outlook is not entirely over.

While the recent whale activity has caused a short-term pause in Jasmycoin's rally, the overall outlook remains positive. A period of consolidation is likely in the short term as the market absorbs the recent price action. However, there are key indicators that suggest the uptrend may resume once consolidation ends.

Firstly, despite the pullback, Jasmycoin's market structure remains bullish, with no signs of significant bearish divergence from key indicators like the Money Flow Index (MFI). Additionally, the price has held above key support levels, including the $0.032 and $0.04 demand zones, which could act as a springboard for future price movement.

In terms of whale activity, the continuation of large transactions in the coming weeks will be a critical factor in determining whether JASMY can sustain its upward trajectory. If whales continue to accumulate coins at lower prices, the stage could be set for another leg up, especially as retail interest in the coin increases.

For investors looking to navigate Jasmycoin's next steps, there are several important price levels to watch. If JASMY can hold above the $0.032 and $0.04 support zones, the path to higher levels, including the previous local high of $0.059, remains intact. On the flip side, if the price breaks below these levels, further consolidation or a deeper correction could be in the cards.

Ultimately, the next few weeks will be crucial in determining whether Jasmycoin can continue its bullish momentum or whether the market will enter a period of prolonged consolidation. As always with cryptocurrencies, volatility is expected, but the recent surge in whale activity and bullish technical indicators suggest that JAS