Spot Selling Tests JASMY Rally Despite Derivatives Inflows
JasmyCoin (JASMY) extended its recent surge after a 27% weekly gain, adding another 12% amid broader memecoin sector growth. Derivatives markets turned bullish as the OI-weighted funding rate flipped positive at 0.0143%, while open interest inflows jumped $6.47 million (14%) in 24 hours, signaling strong trader confidence. Memecoins recorded a 12% seven-day rally, reinforcing JASMY’s momentum, and community sentiment stands at 87%. However, spot exchange data revealed $2.3 million in net JASMY sales over 72 hours, indicating some profit‐taking. Persistent spot selling could pressure overleveraged long positions and test the rally’s resilience. Traders should watch for a shift back to net inflows to confirm renewed upside potential.
Neutral
JASMY’s performance displays mixed signals. On one hand, strong derivatives inflows, a positive funding rate, and 87% bullish community sentiment parallel previous memecoin rallies that led to sustained upswings. On the other, $2.3 million in spot selling over 72 hours suggests profit-taking and potential pressure on leveraged longs. Historically, such divergence between derivatives optimism and spot outflows can trigger short-term consolidation or pullbacks, as seen in past meme token cycles. Therefore, while mid-term prospects remain supported by sector momentum, traders should brace for possible volatility. A reversal to net spot inflows would likely validate further gains; otherwise, consolidation near current levels is probable.