JUP, the token backed by the decentralized exchange (DEX) Jupiter, stepped into the limelight with its much-awaited debut post an exciting airdrop. Users celebrated the platform’s giveaway, and the excitement echoed across the market, fueled by standout listings on major exchanges such as Binance, Bithumb, and OKX. Now, curious minds are wondering where JUP Token’s price might go in the future.
Is The Airdrop Fuelling JUP Rally
In a week brimming with major industry happenings, from the impactful FOMC meeting to Ethereum’s Dencun upgrade unveiling on the second testnet, all eyes turned to the center stage occupied by the JUP airdrop.
Over the last 24 hours, JUP faced an 8.91% price dip, settling at $0.536. Despite a substantial 41% drop in trading volume for the DEX token during this period, the uptick in market cap to $5.3 million suggests that holders aren’t rushing to part with their JUP just yet.
While the chart detailing JUP’s trading history may not be extensive, maintaining a position above $0.5 emerges as a critical factor for a potential rally, setting sights on the ambitious goal of reaching $1 and beyond.
A cautious sentiment lingers in the air as a bearish cloud may persist around Jupiter, potentially casting a shadow on the upward trend. This suspicion arises from the observed downtrend in the Moving Average Convergence Divergence (MACD) indicator.
Keeping all these factors in mind, a price rebound from the trendline could serve as a signal to investors, indicating an opportune moment to buy during a dip, with speculation centered on a potential rise to key resistance levels at $0.65, $0.7, and $1
2024 Jupiter Price Predictions
Looking ahead to February 2, 2024, various predictions surfaced for Jupiter’s price trajectory. DigitalCoinPrice forecasted $1.32 for the current year, while Coincodex anticipated $ 0.019338.
2025 Jupiter Price Predictions
Moving into 2025, Coincodex maintained the same prediction, whereas DigitalCoinPrice foresaw $1.51.
2030 Jupiter Price Predictions
For a more extended forecast in 2030, Coincodex.net projected $ 0.028636, while DigitalCoinPrice set a bullish target of $4.47 at the beginning of the next decade.
Is Jupiter a Good Investment?
Deciding if Jupiter (JUP) is a smart investment can be tricky, the token’s price went up a lot after it first came out, but there might be signs that it could go down soon. If JUP falls below a certain line (trendline), it might be a good idea to change your plan.
Some might even consider a tactic called “shorting” the token, hoping to buy it back at a lower price, maybe around $0.50 & $0.48.
However, there are also good reasons behind why Jupiter’s price has been moving lately, as new things happening with Jupiter are catching the eye of investors.
