After suffering a prolonged downtrend, JasmyCoin (JASMY) may be gearing up for a potential comeback. The token, which reached a high of $0.0595 last year, has dropped sharply to around $0.012—its lowest level since February 2023. Despite the bearish trend, new data and technical patterns suggest that JASMY could soon experience a bullish reversal.
Jasmy’s Decline Mirrors Broader Market Weakness
Jasmy’s recent slump has coincided with a general downturn in the broader crypto market. Major assets like Bitcoin and other altcoins have also seen heavy losses during the same period, dragging down market sentiment across the board.
However, several indicators now point to a possible reversal for JasmyCoin.
On-Chain Indicators Signal Growing Strength
One of the most promising signs comes from Jasmy’s on-chain activity. According to data from Santiment, active addresses on the network jumped to 897 on March 23, the highest since March 10. An increase in active users is often interpreted as renewed interest in the token and may indicate an upcoming shift in price action.
In addition, Jasmy’s 365-day Mean Dollar Invested Age (MDIA) has climbed to 146, up from 138 earlier this month. A rising MDIA typically suggests that long-term holders are continuing to accumulate, reflecting growing investor confidence.
Undervalued Metrics Offer Bullish Insight
From a valuation perspective, JasmyCoin appears significantly undervalued. The MVRV-Z score, which compares the market value to the realized value of the asset, has dropped to -1.8, its lowest level since April 2023. Historically, negative MVRV-Z scores signal undervaluation and often precede upward price corrections.
Furthermore, data from CoinGlass shows that exchange balances of JASMY have declined sharply—from 10.4 billion tokens in November to 8.47 billion now. The falling exchange supply suggests that holders are moving coins into self-custody, a bullish sign as it reduces potential sell pressure.
Technical Analysis: Falling Wedge Pattern Forms
From a technical standpoint, the JASMY price has shown signs of bottoming out. The token is currently trading below both the 50-day and 100-day moving averages, indicating bearish dominance in the short term.
However, the formation of a falling wedge pattern on the daily chart offers hope for bulls. A falling wedge is a bullish reversal pattern formed by two converging downward trendlines. Typically, a breakout occurs once the price nears the wedge’s apex.
If Jasmy breaks above the $0.016 resistance level, it could confirm a breakout and potentially rally toward the next key resistance around $0.025, last seen on September 28.
Renewed Focus on AI and DePIN
Beyond price action and technicals, Jasmy’s long-term narrative continues to evolve. Originally founded in 2016 by former Sony executives Kazumasa Sato and Kunitake Ando, Jasmy has been dubbed “Japan’s Bitcoin” for its vision of data democratization. Its mission is to return data ownership to individuals and empower them to monetize their personal information securely.
Recently, the project has pivoted toward artificial intelligence and Decentralized Physical Infrastructure Networks (DePIN). Jasmy CFO Hiroshi Harada announced that the network is leveraging decentralized GPUs to support next-gen AI agents. This is being facilitated through Janction, a DePIN platform built within the Jasmy ecosystem.
“We will leverage GPUs to deploy a platform to enhance the next generation of AI agents,” Harada stated on X.
This integration of AI, decentralized infrastructure, and data security could position JasmyCoin as a vital player in the future of Web3 technologies.
Jasmy’s Potential Recovery Is Worth Watching
While JasmyCoin has struggled amid the broader crypto sell-off, a combination of positive on-chain metrics, technical formations, and renewed project focus suggests that a turnaround may be on the horizon.
With undervaluation signals flashing and long-term fundamentals evolving, Jasmy is a coin to watch closely in the coming weeks.
