Jupiter Price Prediction 2024: JUP Price Analysis
What's ahead for Jupiter?
Key Takeaways
- 2024 target: JUP could reach a new all-time high, signaling the end of its first major correction and start of a new bull cycle.
- 2025 outlook: If the market stays bullish, JUP’s price could surpass 2024 values, potentially marking a final all-time high before entering a bear market.
- 2030 forecast: After an expected bear market from 2025 to 2028, JUP could regain previous values by 2030, following an 80-90% correction.
Jupiter , a liquidity aggregator which drives a significant portion of Solana’s decentralized exchange activity, introduced its native JUP token on January 31 2024.
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.
On July 17 2024, JUP was worth about $0.92.
Jupiter did not respond to a request for comment
Let’s take a look at our Jupiter price predictions, made on July 17 2024. We will also examine the Jupiter price history and talk a little about what Jupiter is and what it does.
Jupiter Price Prediction
| Minimum JUP Price Prediction | Average JUP Price Prediction | Maximum JUP Price Prediction | |
|---|---|---|---|
| 2024 | $1.80 | $2 | $2.40 |
| 2025 | $2.80 | $3.20 | $4 |
| 2030 | $1.60 | $2 | $3 |
Jupiter Price Prediction 2024
JUP seems to have finished its first major correction in a larger bull cycle. If this is the case and we see the start of its next upturn, the price should hit a new all-time high before it ends.
Jupiter Price Prediction 2025
If the market stays bullish next year, JUP’s price could exceed its 2024 values and reach another all-time high.
Jupiter Price Prediction 2030
We expect this bull cycle to end in 2025 and the bear market to start. Because the bear cycle usually lasts around three years, that would mean by 2030, JUP could be in its bull run. If this happens, JUP could regain some of its previous values after an 80-90% correction in a bear market.
Jupiter Price Analysis
On April 1, JUP reached an all-time high of $1.85, marking the end of an uptrend that began in February from $0.45. However, by April 13, it had dropped to $0.80. A brief recovery followed, peaking at $1.20 on April 23. Jupiter’s price then retested its previous low, establishing the $0.80 area as a support zone.
JUP’s next upward attempt reached a lower high of $1.30 on May 20, forming an ascending channel. Further decline followed, leading to a lower low of $0.63 on July 5, 2024.
From its all-time high, a descending triangle formed, within which the price moved in a three-wave manner. This was most likely the corrective stage of the higher degree after the initial bull phase.
We have seen a recovery since July 5, with JUP reaching a high of $0.95 on July 17, breaking out above the descending resistance. If this is the next bullish stage for JUP, the rise should continue further and display a lower-degree five-wave pattern to a high of $1.14.
JUP should maintain a higher low above $0.85 on the expected retracement, which would be its next confirmation of the larger starting uptrend. Should this develop, we anticipate the price revisiting its all-time high of $1.80 later in 2024 and potentially exceeding it in 2025.
Short-term Jupiter Price Prediction
The Jupiter price prediction for the next 24 hours should see it continue rising. Since July 5, we have seen the formation of an ascending triangle, leading to a breakout above the descending resistance. This looks like the third wave of the starting five-wave impulse.
If this is the case, JUP should reach at least $1 before it completes this bullish pattern or slightly exceeds it.
Jupiter Average True Range (ATR): JUP Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On July 17 2024, Jupiter’s ATR was 0.03, suggesting low volatility.
Jupiter Relative Strength Index (RSI): Is JUP Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On July 17, 2024, Jupiter’s daily chart RSI was at 60, indicating that it is close to entering the overbought zone.
Jupiter Price Performance Comparisons
How Do We Make a Jupiter Price Prediction?
Our price prediction for Jupiter combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases. Applied to the JUP-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.
Best Days and Months to Buy Jupiter
We looked at Jupiter’s price history and found both the best and worst times to buy JUP.
Based on the data analyzed, Sunday is the best day to buy Jupiter (JUP), with the highest average return of 1.67% among the days of the week. On the other hand, Tuesday demonstrates the worst performance, with an average of -2.39%.
JUP Price History
| Time period | Jupiter price |
|---|---|
| One day ago (July 16, 2024) | $0.9112 |
| One week ago (July 10, 2024) | $0.7893 |
| One month ago (June 17, 2024) | $0.9239 |
| Three months ago (April 17, 2024) | $0.9705 |
| Launch price (January 31, 2024) | $0.6626 |
| All-time high (April 1, 2024) | $1.7515 |
| All-time low (February 23, 2024) | $0.4692 |
Jupiter Market Cap
The market capitalization, or market cap, is the sum of the total number of JUP in circulation multiplied by its price.
On July 17, 2024, Jupiter’s market cap was $1.25 billion, making it the 67th-largest crypto by that metric.
Who Owns the Most Jupiter?
Richest JUP Wallet Addresses
As of July 17, 2024, the five wallets with the most Jupiter tokens were:
- 26ddLrqXDext6caX1gRxARePN4kzajyGiAUz9JmzmTGQ. This wallet held 4,090,152,117 JUP, or 40.9% of the supply.
- 6G4XDSge4txj5tBkA5gZqefXXE3BRxqA37Yb1pmrHv6N. This wallet contained 3,500,000,000 JUP, or 35% of the supply.
- 7bEL9XkPGNg7a3oSiUERKsZtFoJMqKh6VhGDCmMCPqdg. This wallet contained 650,000,000 JUP, or 6.5% of the supply.
- K6U4dQ8jANMEqQQycXYiDcf3172NGefpQBzdDbavQbA. This wallet contained 400,000,000 JUP, or 4% of the supply.
- GDijXRGfd1jhk5GkRPp1TDnEH2FfHURSRZeB5um3pUWk. This wallet contained 158,622,982 JUP, or 1.59% of the supply.
Jupiter Supply and Distribution
| Supply and Distribution | Figures |
|---|---|
| Maximum supply | 10,000,000,000 |
| Circulating supply (as of July 17, 2024) | 1,350,000,000 (13.5% of maximum/total supply) |
| Holder distribution | Top 10 Holders own 90.81% of supply as of July 17, 2024 |
From the Jupiter Whitepaper
In its technical documentation, or whitepaper , Jupiter says the progress and innovations at Jupiter can be attributed to three core anchors:
- The JUP Promise: Best Price, Best Token Selection, Best UX.
- Maximizing the Potential of Solana’s Technical Capabilities.
- Improving the liquidity landscape in Solana.
What is Jupiter?
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 then fetches the quotes for each of those routes and returns the amount of tokens you will receive per route. This includes all fees.
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 you never invest more money than you can afford to lose.
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