What's Behind the Sharp Rise in Jupiter (JUP) Price?

user avatar

by Giorgi Kostiuk

2 years ago

Last week, the price of Jupiter (JUP) saw a dramatic increase, jumping 39% in a single day. The main driver behind this surge was its involvement in the launch of the new $TRUMP token.

Jupiter Exchange’s Role in the $TRUMP Launch

Jupiter Exchange announced its collaboration with Meteora AG to support the $TRUMP token launch, touted as one of the largest in crypto history. The same technologies employed during the JUP launch, including the DLMM pool and ILM design, were utilized.

We worked closely with the Meteora AG team to ensure the launch of $TRUMP, which is one of the largest in the history of crypto.None

Jupiter Chart Analysis: Breakout Drives Momentum

Recent movements in JUP's price demonstrate a bullish breakout after a consolidation phase. The price moved above the 200-day average, showing trader optimism. However, the RSI at 72.80 suggests a potential short-term dip.

JUP Support and Resistance Levels to Watch

The $0.80 breakout level serves as a strong support, reinforced by the 200-day SMA. On the upside, resistance lies between $1.15 and $1.20, where traders might take profits.

JUP remains an asset of heightened interest, with its future performance key for observation. Breakout events could continue to influence its price in the upcoming days.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

New Report Published Utilizing Primary Source Documentation.

chest

The report is based on information released in disclosures at primary source documentation, ensuring that the information provided is accurate and reliable.

user avatarMaya Lundqvist

US Spot Bitcoin ETFs Experience Record Inflows

chest

US spot Bitcoin ETFs saw a significant inflow of $60.6 billion on Thursday, marking their largest single-day gain since May 1.

user avatarLeo van der Veen

New Study Emphasizes the Significance of Primary Source Documentation.

chest

The report highlights the importance of primary source documentation for providing accurate and reliable information.

user avatarLi Weicheng

Cumulative Inflows into US Spot Solana ETFs Reach $116 Billion

chest

Cumulative inflows into US spot Solana ETFs have surpassed $116 billion, indicating growing institutional interest in the token.

user avatarTenzin Dorje

Binance to Remove Seven Spot Trading Pairs on August 21

chest

Binance has announced the removal of seven spot trading pairs on August 21 at 0300 UTC, including SUIBNB and LTCBNB, as part of its market optimization process.

user avatarAisha Farooq

HYPE Token Briefly Surpasses Dogecoin in Market Capitalization

chest

On August 20, Hyperliquids HYPE token briefly surpassed Dogecoin in market capitalization, highlighting a significant valuation shift.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.