Home / Analysis / Crypto / Price Predictions / Jupiter Price Prediction 2024: Can JUP Stay in the Spotlight?

Jupiter Price Prediction 2024: Can JUP Stay in the Spotlight?

Last Updated May 10, 2024 10:27 AM
Giuseppe Ciccomascolo
Last Updated May 10, 2024 10:27 AM

Key Takeaways

  • Jupiter’s token JUP debuted on January 31.
  • It fell a bit after its launch but has rebounded recently.
  • One price prediction says it may reach $3.29 next year.

Jupiter , the leading liquidity aggregator driving a significant portion of Solana’s decentralized exchange activity, introduced its native JUP token on January 31.

This token launch, accompanied by a community airdrop, follows a series of successful Solana ecosystem airdrops that contributed to a bullish trend toward the end of 2023. While Solana ‘s price saw stabilization amidst recent attention on the approval of bitcoin ETFs in the US, Jupiter’s debut marks a significant milestone for the ecosystem.

Having pioneered as Solana’s premier on-chain swap aggregator since its launch in October 2021, Jupiter optimizes DeFi transactions by minimizing slippage and ensuring swift execution through the aggregation of liquidity from various decentralized exchanges.

While the aggregator itself operates free of charge, Jupiter implements fees on dollar-cost averaging (DCA) orders, perpetual swaps, and limit orders executed on its exchange platform. This fee structure supports the sustainable growth and development of the ecosystem while providing users with unparalleled liquidity and transaction efficiency.

Jupiter did not respond to a request for comment

But what is Jupiter (JUP)? How does Jupiter work? Let’s see what we can find out, and also take a look at some of the Jupiter price predictions that were being made as of May 10, 2024.

Jupiter Price Prediction

Let’s examine some of the Jupiter price predictions being made on May 10, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

Being so young – it was launched only on January 31, 2024 – it is still hard to find price predictions for this token.

2024 2025 2026
Prediction #1 $2.28 $2.65 $7.79
Prediction #2 $0.00293 $2.24 $15.06
Prediction #3 $1.53 $2.28 $14.28

First, CoinCodex  had a short-term Jupiter price prediction that suggested the token would go to $1.32 by May 15 before rising further to $3.31 by June 9. The site’s technical analysis was bearish, with three indicators sending bullish signals and 13 making discouraging ones.

Jupiter Price Prediction for 2024

DigitalCoinPrice  said that Jupiter would reach $2.28 this year. Changelly  thought the token would trade at $0.00293. PricePrediction.net  expects it at $1.53.

Jupiter Price Prediction for 2025

Moving on, Changelly expected it to trade at $2.24 while PricePrediction.net thought Jupiter would go to $2.28 in 2025. DigitalCoinPrice had the token coming in at $2.65 that year.

Jupiter Price Prediction for 2030

Looking at a more long-term Jupiter price prediction, Changelly said the token would hit $15.06 in 2030 while PricePrediction.net sees it at $14.28. DigitalCoinPrice made a JUP price prediction that had it trade at $7.79 at the start of the next decade.

Google BardAI Price Prediction for Jupiter (as of May 10)

Google’s BardAI platform gave the following price prediction for Jupiter on May 10. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

  • Expected Price: $3.78
  • Reasons:
    • Overall crypto market sentiment: The price of JUP is likely to be influenced by the broader trends in the cryptocurrency market.
    • Adoption and usage of the Jupiter platform: If the Jupiter platform gains more users and adoption, it could lead to increased demand for JUP tokens, potentially pushing the price up.
    • Developments on the Jupiter platform: New features, partnerships, and other developments on the platform could also impact the price of JUP.
    • Regulatory landscape: Changes in regulations surrounding cryptocurrencies could also affect the price of JUP.

Medium Term (Next six months)

  • Expected Price: $3.06
  • Reasons:
    • Overall market sentiment: The general sentiment towards the cryptocurrency market can significantly impact individual coin prices.
    • News and events: Specific news or events related to JUP or the wider crypto space can cause price fluctuations.
    • Technical analysis: Analyzing historical price charts and technical indicators can suggest potential future trends, but it’s not a guarantee.

Long Term (Next five years)

  • Expected Price: $5.09
  • Reasons:
    • Overall cryptocurrency market trends: The performance of Bitcoin and other major cryptocurrencies can significantly impact JUP’s price.
    • Developments within the Jupiter project: The success of the project’s roadmap and adoption of its technology can positively affect the price.
    • Regulatory changes: Government regulations on cryptocurrencies can create uncertainty and impact prices.
    • Unexpected events: Unforeseen events like hacks or major economic shifts can drastically alter the market.

Recent Updates from Jupiter

Jupiter said  it has funded 10M USDC and 100M JUP into a DAO wallet. This operational budget provides the DAO the capability to fund the ideas with USDC and have the JUP allocation for long term incentive alignment with J.U.P Catributors.

Jupiter Price History

Now, let’s examine the Jupiter’s price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Jupiter price prediction.

JUP first came onto the open market on January 31, 2024, when it was worth about $0.8546. It went down then, reaching  $0.6317 in early February. The coin hit its record high on March 18, 2024, at $1.5521, before retracing a bit. It’s worth $1.05 on May 10, 2024.

Jupiter price history
Jupiter price in 2024. | Credit:CoinMarketCap
At that time, there were 1.35 billion JUP in circulation, out of a total supply of 10.0 billion. This gave Jupiter a market cap of about $1.42 billion, making it the 62nd largest crypto by that metric.

Jupiter Historical Price Data

Period Jupiter Price
March 1, 2024 $1.74
May 1, 2024 $1.11
All-time high (April 1, 2024) $1.83
All-time low (February 21, 2024) $0.459

Jupiter Price Analysis

Jupiter price prediction
Jupiter will break out.- but where? | Credit: Nikola Lazic/TradingView

On April 1, JUP reached an all-time high of $1.83, ending its first major uptrend from February, starting at around $0.45. 

However, on April 13, it fell to a low of $0.80. A short-lived recovery followed to a high of $1.20 on April 23. Jupiter’s price retested its prior low and established the $0.80 area as a support zone. 

Its next attempt to move up ended at a lower high of $1.17 on May 7. However, its next downturn made another higher low, making the price bounce above $1.10.

A breakout will happen, but its direction remains uncertain. If the price breaks into the upside, we can see the start of a new bull phase, with the price of JUP likely headed to a new all-time high later in 2024. 

But if it falls, it would mean that its corrective stage hasn’t ended, and it is headed below April 13 low of $0.80. 

Is Jupiter a Good Investment?

It is hard to say. The token’s price has shot up after its launch, but there may already be signs of a downturn.

On the other hand, there are good reasons for Jupiter’s recent movements, with new developments getting investors attention.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in JUP.

Will Jupiter go up or down?

No one can really tell right now. While the Jupiter crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.

Should I invest in Jupiter?

Before you decide whether or not to invest in Jupiter, you will have to do your own research, not only on JUP, but on other coins and tokens such as Ordinals (ORDI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of Jupiter?

Jitendra Gupta is the founder of Jupiter.

Who Owns the Most Jupiter (JUP) Tokens?

On May 10, 2024, one wallet held 40.90% of JUP’ supply.

Richest JUP Wallet Addresses

As of May 10, 2024, the five wallets with the most Jup tokens were

  • 26ddLrqXDext6caX1gRxARePN4kzajyGiAUz9JmzmTGQ. This wallet held 4,090,152,117 JUP, or 40.90% of the supply.
  • 6G4XDSge4txj5tBkA5gZqefXXE3BRxqA37Yb1pmrHv6N. This wallet held 3,500,000,000 JUP, or 35.00% of the supply.
  • 7bEL9XkPGNg7a3oSiUERKsZtFoJMqKh6VhGDCmMCPqdg. This wallet held 650,000,000 JUP, or 6.50% of the supply.
  • K6U4dQ8jANMEqQQycXYiDcf3172NGefpQBzdDbavQbA. This wallet held 400,000,000 JUP, or 4.00% of the supply.
  • GDijXRGfd1jhk5GkRPp1TDnEH2FfHURSRZeB5um3pUWk. This wallet held 145,039,584 JUP, or 1.45% of the supply.

Fact Box

Supply and distribution Figures
Maximum supply 10,000,000,000
Circulating supply (as of May 10, 2024) 1,350,000,000 (13.50% of maximum supply)
Holder distribution Top 10 holders owned 90% of supply, as of May 10, 2024

From the Whitepaper

In its technical documentation, or whitepaper , Jupiter says the progress and innovations at Jupiter can be attributed to three core anchors:

  1. The JUP Promise: Best Price, Best Token Selection, Best UX. This deceivingly simple and straightforward promise is the driving force behind our obsessive efforts in product innovation. From enhancements in routing algorithms to the integration of new tools, they are all aimed at delivering an exceptional trading experience for both users and developers.
  2. Maximizing the Potential of Solana’s Technical Capabilities:Much like harnessing the full potential of a high-performance vehicle, we strive to make the most of Solana’s capacity for providing swift and efficient trading experiences. Jupiter has been at the forefront of adopting new Solana features such as lookup tables, priority fees, and token 2022 standards.
  3. Improving the liquidity landscape in Solana: We are committed to the rapid integration of new liquidity sources and innovative use cases, ensuring the continual growth and competitive edge of the Solana ecosystem.

Jupiter (JUP) Explained

As one of the industry’s most advanced swap aggregation engines, Jupiter excels in delivering essential liquidity infrastructure for the Solana ecosystem. Moreover, Jupiter is actively expanding its DeFi product offerings, featuring a comprehensive suite that includes Limit Order, DCA/TWAP, Bridge Comparator, and Perpetuals Trading.

How Jupiter Works

User enters in the amount of tokens they want to trade for. Jupiter calculates out all the possible routes for the token trade. Jupiter fetches the quotes for each of those routes and returns the amount of tokens you will receive per route. This includes all fees.

Jupiter Attention Tracker

Jupiter's Google search volume
Jupiter’s Google search volume for the last 90 days. Credit | Google

Here is a chart for Jupiter JUP’s Google search volume for the past 90 days. This represents how many times the term “Jupiter JUP” has been Googled over the previous 90 days.

FAQs

How many Jupiter are there?

As of May 10, 2024, there were 1.35 billion JUP in circulation, out of a total supply of 10.0 billion.

Can Jupiter reach $10?

According to Changelly and PricePrediction.net, it will reach a double-figure level in 2028.

What is Jupiter?

Jupiter aims to delivering essential liquidity infrastructure for the Solana ecosystem.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

Was this Article helpful? Yes No