Pepe and Jasmy prices have been some of the best performers this week as demand for Bitcoin and altcoins jumped. Jasmy, commonly known as Japan’s Bitcoin, soared to a high of $0.0240 on Thursday, 735% above its lowest point in 2023. Pepe, on the other hand, soared to $0.0000035, its highest level since May last year. It has jumped by 450% from its lowest point in October.
Rising fear and greed index
The main reason why Jasmy and Pepe prices have jumped is that investors and crypto traders have gotten greedy. In this case, the fear and greed index has moved to the extreme greed area of 86, its highest level since 2021. It has made a strong rebound since it was at the neutral point of 49 just a few weeks ago.
The crypto fear and greed index usually rises when cryptocurrencies are doing well. In this case, Bitcoin has jumped to over $60,000 while Ethereum has soared to over $3,300. Most other altcoins like Solana, Tron, and Internet Computer (ICP) have also risen sharply.
Therefore, the two tokens are doing well because of the increased enthusiasm in the crypto industry. For one, there is a believe that Bitcoin will jump above its all-time high of $69,000. If this happens, investors believe that it will rise to as high as $100k before the next Bitcoin halving event in April.
In line with this, Jasmy and Pepe are rising because of a situation known as the Fear of Missing Out (FOMO). FOMO is a situation where investors pile into an asset when its price is surging because they don’t want to miss the rally.
Finally, the two coins have become highly popular among day traders. As a result, they have become the most trending coins in key social media platforms for traders like StockTwits and Reddit.
These traders have become more active recently because of their focus on cheap assets. In the stock market, they have pumped some small-cap companies like Phunware and Bit Brother.
Outlook for Jasmy and Pepe
Therefore, the outlook for Pepe and JasmyCoin is still bullish despite of the recent gains. For one, the fear and greed index and the volume in the crypto industry is still rising. The same is true with the open interest in the futures market and the options volatility.
The FOMO situation will also continue at least through April when Bitcoin halving will take place. In most cases, Bitcoin tends to rally ahead of this halving event. If history repeats itself, as it happened during the last halving, Bitcoin will continue rising.
All this means that Pepe price could jump to a high of $0.00000448, which is about 40% above the current level. Jasmy, on the other hand, will likely rise to $0.050, its highest swing in March 2022. This means that it could jump by 120% above the current level.
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