JasmyCoin at Risk of Decline as ‘5 Cent’ Meme Cryptocurrency Secures $1 Million in Investment

The value of the decentralized data storage cryptocurrency JasmyCoin ($JASMY) has started to decline sharply, experiencing a 1.4% drop in the past hour.

This negative price movement follows a month of losses that has decreased $JASMY’s value by 19%. This week, the token has decreased by 1.3% and is currently trading at $0.01886.

In contrast, the leading cryptocurrency Bitcoin ($BTC) is showing positive performance, having increased by 1.5% in the last 24 hours and 1% over the week, now trading at $67,743.

JasmyCoin’s trading volume has also seen a significant decline in the past 24 hours, dropping 13.2% to $84.6 million.

Do these developments indicate a correction, or potentially a more severe decline?

$JASMY: How It Started, How It’s Going

Marketed as “Japanese Bitcoin,” Jasmy is an on-chain data storage solution that provides individuals with enhanced control and autonomy over their personal data by allowing them to store it in a Personal Data Locker (PDL). If they wish, they can share this data with companies that are willing to compensate them.

This model seeks to secure data storage and reduce leaks while also enabling its distribution and utilization among consenting parties.

The price chart for JasmyCoin indicates that the coin is currently trading at a support level that has been maintained since March, as shown by the horizontal green line below.

This suggests that for most of the year to date, JasmyCoin has been, and continues to be, trading at a low point.

Source: TradingView

Recent upward movements have revealed potential resistance around $0.025. Currently, the token’s relative strength index is declining from 42, indicating ongoing selling pressure.

This situation is expected to stabilize by Saturday, but holders may be left questioning whether JasmyCoin will regain its 2024 peak of $0.041 reached in June. At present, the outlook appears negative.

As JasmyCoin Wobbles, Traders Hedge Portfolios With Vote-To-Earn Meme Coin Flockerz

The current volatility surrounding JasmyCoin highlights the risks associated with investing in any segment of the cryptocurrency market.

JasmyCoin is part of a developing sector of DePIN coins that utilize blockchain technology to incentivize the creation of real-world infrastructure.

While DePIN as a sector may hold promise, holders of JasmyCoin or similar DePIN coins should consider diversifying their portfolios with token allocations from other Web3 projects, including GameFi, GambleFi, storage coins, AI-integrated initiatives, and even meme coins.

Indeed, decentralized innovation is beginning to permeate the meme coin space.

Numerous projects are emerging, providing investors with various opportunities to earn rewards while maintaining the fun, volatility, unpredictability, and viral marketing associated with meme coins.

This month, meme coin enthusiasts have been flocking to a new vote-to-earn (V2E) meme coin called Flockerz ($FLOCK).

Its presale commenced last month and has quickly raised over a million dollars.

Promoting itself as “The People’s Meme Coin,” Flockerz provides crypto enthusiasts with unmatched community-building incentives and staking rewards.

Holders of Flockerz (referred to as “The $FLOCK”) are essential members of a decentralized autonomous organization (DAO) named Flocktopia, where they can propose and vote on governance and enhancement initiatives.

This framework ensures that community consensus drives decisions rather than a centralized entity.

Approximately 25% of the project’s total supply of 12 billion $FLOCK meme coins is allocated for staking, with the protocol offering an impressive yield of 1,644% on the tokens locked for a two-year staking duration.

We’re toasting to $1M!
Along with this mega milestone comes BIG news.
TELEGRAM OPENS IN 3 DAYS!
October 26th at 15:00 CET. https://t.co/4cM18DEytN pic.twitter.com/o5vz6Nkfrb

— Flockerz (@FlockerzToken) October 23, 2024

Flockerz is a transparent and fully audited initiative.

That’s why Coinsult has audited its smart contract, providing investors with reassurance.

Additionally, Flockerz is pursuing listings on both centralized and decentralized exchanges (CEXs and DEXs), indicating its global aspirations, similar to Bitcoin Cash. The vote-to-earn mechanism will be activated following these listings.

Stay tuned, as this $FLOCK is set to soar!

Join now. Follow Flockerz on X and Telegram.

Visit the Flockerz Presale Website

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