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

Amazon Stock Price Predictions for 2027

Major firms predict Amazon stock will reach $350 per share by 2027, driven by AWS growth and AI advancements.

user avatarDavid Robinson

Tether Partners with Shiga to Launch Financial Products in Africa and Gulf

Tether is transitioning its Wallet Development Kit into financial products for users and institutions in Africa and the Gulf, collaborating with Shiga.

user avatarJacob Williams

Soneium and DayOneDream Join Forces to Tokenize Kpop Revenue Streams

Soneium partners with DayOneDream to tokenize Kpop revenue streams using blockchain technology.

user avatarAndrew Smith

Strive Increases Bitcoin Holdings by 1,107 BTC

Strive has significantly increased its Bitcoin holdings by acquiring 1,107 BTC for approximately $945 million.

user avatarZainab Kamara

Verona Launches verUSD Stablecoin for AI Payments

Verona has launched a new dollar stablecoin, verUSD, designed for AI payments and machine transactions, with over $100 million in institutional commitments.

user avatarAyman Ben Youssef

Blockchain.com Plans IPO to Enter US Public Markets

Blockchain.com is reportedly preparing for an initial public offering that could raise around $500 million.

user avatarSon Min-ho

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.