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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

ZetaChain Token Holders Approve Migration to Solana

ZetaChain token holders have approved the migration of ZETA to the Solana blockchain, transitioning to a native SPL token while maintaining its ticker and total supply.

user avatarGustavo Mendoza

Hyperliquid Achieves $140 Billion in Perpetual Trading Volume

Hyperliquid generated approximately $140 billion in perpetual trading volume over a 24-hour period on September 21.

user avatarMaria Fernandez

Chainlink Releases Version 2640 for Node Operators

Chainlink has launched version 2640, focusing on infrastructure improvements for oracle nodes.

user avatarRajesh Kumar

Aptos Labs Releases Validator Node Hotfix to Ensure Network Stability

Aptos Labs has released a hotfix for validator nodes to address consensus and statesync issues in the mainnet infrastructure.

user avatarMiguel Rodriguez

Offchain Labs Releases Nitro v3114 for Arbitrum Node Operators

Offchain Labs has released Nitro v3114, a maintenance update for Arbitrum node operators, focusing on reliability and routine improvements.

user avatarLuis Flores

Lido DAO Completes Significant Governance Package

Lido DAO has successfully executed Aragon Vote 205, implementing key governance changes.

user avatarArif Mukhtar

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.