This week, three digital currencies – Venice Token (VVV), jelly-my-jelly (JELLYJELLY), and Pumpkin Fun (PKIN) – have been in the spotlight. Among them, VVV, initiated by ShapeShift founder Erik Voorhees, serves as the fuel for a privacy-conscious AI assistant and boasts more than 43,000 owners.
JellyJelly, developed by Venmo co-founder Iqram Magdon-Ismail, has been linked to a fresh social media platform, and in just two days, it reached a market capitalization of $74 million. The native token of the Pumpkin Fun launchpad, PKIN, is experiencing swift growth, handling more than 53,000 daily transactions, and there’s significant interest in meme coins based on the Solana network.
Venice Token (VVV)
The token known as VVV originates from Venice AI, a privacy-focused and uncensored artificial intelligence aid developed by Erik Voorhees, who is also the founder of ShapeShift, a renowned Decentralized Finance (DeFi) platform.
To start, VVV was initially distributed to early users but can now be found on the Base chain, making it one of the largest new cryptocurrencies launched recently there. Although its price has experienced a substantial drop following an initial spike, it currently boasts over 43,000 holders and a market capitalization of approximately $167 million.
At the moment, VVV’s Relative Strength Index (RSI) stands at 35.6, suggesting that it is getting close to overbought territory. Typically, an RSI below 30 indicates oversold conditions, implying a potential reversal if buyers decide to enter the market. Nevertheless, if selling pressure persists, Venice Token might experience additional drops before finding a balance.
jelly-my-jelly (JELLYJELLY)
The JELLYJELLY token is the native currency of the Jelly-Jelly application, a socially-oriented platform pioneering an innovative “interactive” format for recording, modifying, and distributing content. It was initially introduced by Iqram Magdon-Ismail, co-founder of Venmo, on Pumpfun, before moving to Raydium as it grew.
Within just under two days, JELLYJELLY amassed more than 47,000 holders, recording a daily trading volume of approximately $753,000 and executing around 3,100 transactions. Its current market capitalization is nearing $77 million, indicating robust early enthusiasm even with relatively low transaction frequency.
As a relatively new cryptocurrency, the association with Venmo’s co-founder may draw in more users and investors in the future. Furthermore, JELLYJELLY’s link to a tangible product adds credibility to its potential success, as projects that offer real-world utility tend to maintain long-term appeal more effectively than those based solely on speculation.
PUMPKIN (PKIN)
Newly introduced Pumpkin Platform, operating on the Solana blockchain, is a competing launchpad for fresh cryptocurrencies, similar to PumpFun. It entices new projects by providing benefits such as lightning-fast coin launches, live broadcasts, unlockable rewards, and built-in staking options.
1) In just a short time, the platform has seen significant growth, now boasting approximately 17,500 users and a market value of about $26.7 million. Moreover, with over 53,000 transactions happening daily, user interaction on Pumpkin Fun is already substantial, indicating a growing curiosity towards its environment.
At present, the Relative Strength Index (RSI) of Pumpkin Fun stands at 65, suggesting it’s nearing overbought territory but there might be more growth if the momentum stays strong. If this platform manages to effectively onboard large-scale meme coin launches, the demand for PKIN could potentially drive its price even higher in the near future.
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2025-01-31 23:39