Key Takeaways:
- Jesus coin price spiked 32% on Oct. 16 despite any visible cues.
- The project likely started as a joke before investors moved in.
- There is no clarity on the project’s tokenomics.
NEW DELHI (CoinChapter.com) — The price of Jesus Coin, a memecoin, rallied over 27% on Oct. 16 to reach a daily high near $0.000000064.
The memecoin continued its rally from Oct. 15, when it spiked nearly 51% from the day’s low of $0.00000004. However, bears pared most of the token’s gains, indicating that bears are selling the “holy” memecoin.
However, upper wicks on both sides of Oct. 16’s daily candle highlight that the bulls are fighting to keep the rally going, and JESUS might respond to the buying pressure.
However, if the bears win, JESUS price might drop to the support near $0.000000045. Breaching the immediate support could force the Jesus Coin price to test the support near $0.0000000315.
The RSI for JESUS is near the overbought threshold, with a score of 68.92, adding to the bearish cues against Jesus Coin.
Yet, if the bulls’ “prayers” are answered, the memecoin price might rally to the resistance near $0.00000007. Flipping the immediate resistance could help JESUS price target the resistance near $0.000000084 before retreating.
Jesus Coin price has had a good run since its launch in May 2023, spiking over 6,050% to reach its all-time high near $0.00000016 on May 28. Though the token has since remained downtrend, JESUS price started rallying towards the end of Sept. 2023.
God Works In Mysterious Ways, And So Does Jesus Coin
Interestingly, no clear clues exist regarding what instigated Jesus Coin’s recent rocket ride. There are a lot of posts on X (formerly Twitter) that shill the token, but there is little else driving the JESUS price rally.
Several crypto influencers shared posts shilling the memecoin without explaining why Jesus Coin was rallying. Most influencers were careful in mentioning that their post was not a piece of financial advice, possibly to avoid backlash if the project rug pulled its investors in the future.
One user claimed that though they did not own Jesus Coin, the memecoin’s price rally was impressive. Another user asserted the JESUS price would continue rallying, stating that “the coming of Jesus will be glorious.“
However, the token’s community consists of some devoted users, including one who thanked the community for its “blessings.”
Jesus Coin: A Project That Promises Salvation To Holders
The project’s homepage is a mix of its white paper and a bunch of jokes on its name. The team declared that the project aimed to “decentralize” Jesus.
And there would be a cryptocurrency, and it would be wondrous, and the Lord would say unto thee followers ‘buy thee Jesus Coin at the highest possible bonus structure
Excerpt from the Jesus Coin’s website.
Furthermore, the project claimed that JESUS would become the “de-facto” crypto token for “all good Christians.”
Moreover, the website shared details of the “team” behind the Jesus Coin project, sharing that Jesus Christ was the CEO and founder of the project. Other notable personalities from the Bible make an appearance too, and some not so notable, such as Jesus’ Donkey as head of customer service.
The community that JESUS has gathered goes on to show that almost anything goes when it comes to crypto, with every new project claiming to be the next Bitcoin and promising a rags-to-riches fairytale for all holders.
However, due to the lack of transparency in the project’s tokenomics and with little knowledge about the actual team, JESUS seems to be a risky investment at the moment. Investors should do their own research before investing in the project instead of praying to ensure they do not lose their money.
