Why doesn't JASMY reach its all-time high?
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Jasmy Coin (JASMY) has made a significant impact in 2024, gaining attention for its price drop, bringing it to the top 100 of digital assets with the highest market capitalization. JASMY is an ERC-20 token that "habits" on Ethereum, a Japanese project with unclear utility. The website of the organization promoting this digital token demonstrates connections to the "Internet of Things" industry but only describes generalities without providing specific data. It is considered "considered the bitcoin of Japan," as seen in the image. JASMY's recent price drop has led it to become the second digital asset with the highest price drop in seven days.
The market does not act with the rationality that everyone wants, and JASMY, an ERC-20 token, is further removed from being equivalent to bitcoin through technical, monetary, adoption and historical factors. Despite its recent growth, JASMY remains below its historical maximum price of 4 dollars.
JASMY price would need to multiply more than 100 times to reach at least its all-time high. It is found on the social network X (Twitter) that many fantasize about seeing this digital currency setting new all-time highs. However, the situation has changed and 98.60% of the circulation of this digital currency is on the market. The full distribution would end in 2025, and the effect of inflation is something that is left behind. There are intentions to establish token blocking mechanisms, which would reduce circulation and could have an impact on the market. While everything can lead to JASMY's appreciation, they would have to make too many changes in their tokenomics to imagine that it would reach its all-time highs above $4 again. Dismiss the crazy and super bullish predictions that you may read on social networks and made by self-proclaimed "analysts" who are not very informed.
