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Jupiter (JUP), a cryptocurrency built on the
Solana chain, has been garnering major attention due to several positive developments. Its price gained significant momentum following a series of announcements which included a planned airdrop, token burn, and the continuous buyback of its tokens. The crypto exchange's majority stake acquisition of
Moonshot and full implementation of
SonarWatch further strengthened its position in the market.
In the face of a $32M token unlock pressure, analysts still predict a bullish price upswing of 45% for Jupiter. The JUP price shows bullish signals after hitting a record low, bouncing back by 65%, and unveiling a new lending protocol further contributes to the bullish run. However, the token faced hiccups when it struggled to recover after failing to reverse a 20% price drop with volume declines observed ahead of a 'Jupuary' airdrop.
Jupiter's robust actions such as planned annual buybacks topping $100M annually, a 50% fee buyback plan, and a token burn of 3 billion has contributed to market confidence and price surge.
Coinbase's revamp of the DeFi fund which aims to boost liquidity on platforms like Jupiter, also played a significant role in the positive performance of JUP while decentralized cryptocurrency exchanges built on Solana like Jupiter are enjoying big monthly gains showing resilience despite market slumps.
Jupiter has also been pushing for wider platform interaction with the launch of Jupiter Send, addressing the rise of meme coins, and investment in the meme coin trading platform, Moonshot. Despite these advances, analysts warn about possible negative impacts such as unspecified occurrences with Solana's associated DEXs and the JUP token facing a dip following airdrop launches.
The long-term prediction for JUP remains positive with future plans to stake JUP in 2025 and projected to hit $5 by the end of 2025 and potentially hit $50 by 2035."",
Jupiter Coin News Analytics from Fri, 08 Nov 2024 08:00:00 GMT to Fri, 12 Sep 2025 16:32:32 GMT -
Rating 7
- Innovation 8
- Information 9
- Rumor 6
