⇑ Jupiter Coin: Whales Exodus, Token Burn, and future outlook

The cryptocurrency market is witnessing significant movements and developments particularly with regards to Jupiter Coin. A notable occurrence is the whale exodus from Jupiter and Filecoin that has been observed, with a large amount of coins being transferred to DTX Exchange. Subsequently, the Jupiter Exchange has decided to burn 30% of its $JUP tokens, which has reportedly caused the price of JUP to increase. Despite the recent whale exodus and the dramatic token burn, Jupiter Coin is expected to trend favorably in the future, with price predictions for 2024 and beyond expressing optimism.

The Jupiter DEX volume might have taken a plunge but price targets remain at $2, and the token seeming to have found an additional use case in non-native Solana token trading. Jupiter's co-founder, known as Meow, has also proposed a 30% cut to the JUP supply, sparking further gains in the token's price. However, the impact of this development has been slightly dampened by criticism over the exchange's collaboration with an alleged scammer on a meme coin.

The next Airdrop for JUP is targeted for the end of January in conjunction with Jupiter's continuous efforts in enhancing its platform's features including enabling zero-fee trading through its Mobile App set to release in May or June. Confidence is still apparent among Solana supporters despite significant price volatility, which recently saw Jupiter Coin witnessing a 20% soar ahead of a major week and supply proposal.

Jupiter Coin News Analytics from Tue, 02 Jan 2024 08:00:00 GMT to Thu, 08 Aug 2024 10:06:49 GMT - Rating 8 - Innovation 6 - Information 5 - Rumor 4