JUP, a token backed by decentralized exchange (DEX) Jupiter, has been in the spotlight with its highly anticipated debut and exciting airdrop. Users celebrated the platform’s sweepstakes and excitement resonated throughout the market due to outstanding listings from major exchanges such as Binance, Bithumb, and OKX. Now curious people are wondering where the price of JUP token will go in the future.
Are airdrops fueling the JUP rally?
In a week filled with major industry news, from the influential FOMC meeting to Ethereum’s Dencun upgrade revealed on its second testnet, all eyes were on the JUP airdrop taking center stage.
Over the last 24 hours, JUP faced a price decline of 8.91% to trade at $0.536. Despite the DEX token’s trading volume dropping significantly by 41% during this period, its market capitalization has grown to $5.3 million, suggesting that holders are in no rush to buy JUP just yet.
The charts detailing JUP’s trading history may not be extensive, but maintaining a position above $0.5 appears to be a critical component of a potential rally, setting an ambitious goal of reaching above $1.
A cautious sentiment remains in the air as bearish clouds persist around Jupiter, potentially casting a shadow on the uptrend. These doubts arise from the observed downward trend in the Moving Average Convergence Divergence (MACD) indicator.
Keeping all these factors in mind, a price bounce from the trend line could be a signal to investors and indicate the right moment to buy during the decline, with speculation suggesting a possible rally up to the key resistance levels of $0.65, $0.7 and $1. It is concentrated on .
Jupiter price prediction for 2024
Ahead of February 2, 2024, various predictions have emerged about Jupiter’s price trajectory. DigitalCoinPrice predicted $1.32 this year, while Coincodex predicted $0.019338.
Jupiter price prediction for 2025
For 2025, Coincodex maintained the same prediction, while DigitalCoinPrice predicted $1.51.
Jupiter price prediction for 2030
For a more extended forecast for 2030, Coincodex.net forecasts $0.028636, while DigitalCoinPrice sets a bullish target of $4.47 at the start of the next decade.
Is Jupiter a good investment?
Deciding whether Jupiter (JUP) is a smart investment can be tricky. The token price has risen a lot since it was first launched, but there may be signs of a decline soon. If JUP falls below a certain line (trend line), it is recommended to change your plan.
Some may consider a tactic called “selling” tokens, hoping to buy them back at lower prices (around $0.50 and $0.48).
But there’s a good reason why Jupiter’s price has been moving lately. This is because new things happening in Jupiter are catching the attention of investors.