Key Takeaways
Jupiter , a liquidity aggregator that 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. Jupiter’s debut marked a significant milestone for the ecosystem.
Since its launch in October 2021, Jupiter has pioneered Solana’s premier on-chain swap aggregator. By aggregating liquidity from various decentralized exchanges, Jupiter aims to optimize DeFi transactions by minimizing slippage and ensuring swift execution.
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 Oct. 17, 2024, JUP was worth about $0.882.
Let’s take a look at our Jupiter price predictions, made on Oct. 17, 2024. We will also examine Jupiter’s price history and talk a little about what Jupiter is and what it does.
Minimum JUP Price Prediction | Average JUP Price Prediction | Maximum JUP Price Prediction | |
---|---|---|---|
2024 | $0.50 | $1 | $1.50 |
2025 | $0.80 | $1.50 | $2.50 |
2030 | $1.50 | $3.50 | $6 |
JUP’s price in 2024 is likely to be influenced by whether it can break key resistance levels around $0.90 to $1.00. A bullish breakout could push the price higher, but failure to maintain momentum could lead to a decline toward $0.50 as the market consolidates.
In 2025, JUP could benefit from a more stable crypto market and potential increased adoption, driving the average price to around $1.50. If the market remains optimistic, it could challenge the previous all-time high, but bearish conditions might bring the price down to $0.80 as a worst-case scenario.
By 2030, with the growing maturity of the blockchain ecosystem and the possible widespread use of JUP’s underlying technology, the price could reach an average of $3.50. In a strong bull market, it could surge to $6.00, though a prolonged bear market could see the price stabilize closer to $1.50.
JUP hit a high of $1.85 on April 1, following a strong uptrend that began at $0.45 in February. After peaking, the price declined steadily, forming a descending triangle and reaching a low of $0.64 by July 5, 2024.
It then rebounded sharply, gaining over 91% to reach $1.22 by July 29, breaking past descending resistance, hinting at a new bullish phase.
However, after this surge, the price fell by 45% but held above the July 5 low, stabilizing at $0.66 by Aug. 5.
A retest of this support on Sept. 6 led to a 44% rebound, pushing the price to $0.97 by Sept. 27.
After another downturn, JUP held a higher low at $0.70 on Oct. 10 and is currently around the $0.90 resistance.
A breakout above $0.90 could confirm a new bull run, but rejection might return the price to the $0.70 range.
The one-hour chart suggests a potential new bullish phase, with the downtrend from Sept. 27 possibly representing a wave 2 correction. If this plays out, wave three could push JUP above $1.20.
A breakout above $0.90 would confirm this scenario, but failure to break resistance may lead to a drop toward $0.70 or below the Sept. 6 low of $0.65, signaling a bearish outcome.
The Jupiter price prediction for the next 24 hours hinges on whether or not it can break past $0.90.
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 Oct. 16, 2024, Jupiter’s ATR was 0.031, suggesting low volatility.
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 Oct. 16, 2024, Jupiter’s daily chart RSI was at 61, suggesting bullish but not overbought conditions.
The CCN Index uses a range of indicators to measure a cryptocurrency’s price momentum.
Let’s now take a look at the Jupiter price history . While past performance should never be taken as an indicator of future results, knowing what JUP has done in the past can help give us some much-needed context when either making or interpreting a Jupiter price prediction.
Time period | Jupiter price |
---|---|
One week ago (Oct. 9, 2024) | $0.7563 |
One month ago (Sept. 16, 2024) | $0.7385 |
Three months ago (July 16, 2024) | $0.9157 |
Launch price (Jan. 31, 2024) | $2.04 |
All-time high (Jan. 31, 2024) | $2.04 |
All-time low (Feb. 21, 2024) | $0.4557 |
The market capitalization, or market cap, is the sum of the total number of JUP in circulation multiplied by its price.
On Oct. 16, 2024, Jupiter’s market cap was $1.19 billion, making it the 63rd-largest crypto by that metric.
On Oct. 16, 2024, one wallet held more than 40% of Jupiter’s supply.
As of Oct. 16, 2024, the five wallets with the most Jupiter tokens were:
Supply and Distribution | Figures |
---|---|
Total supply | 10,000,000,000 |
Circulating supply (as of Oct. 16, 2024) | 1,350,000,000 (13.5% of total supply) |
Holder distribution | Top 10 Holders owned 91.64% of supply as of Oct. 16, 2024 |
In its technical documentation or whitepaper , Jupiter says any progress and innovations at Jupiter can be attributed to three core anchors:
The user enters the number 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 route and returns the amount of tokens you will receive per route. This includes all fees.
It is hard to say. The token’s price has been on something of an upturn recently, although it is still facing some kind of resistance at $0.90. Not only that, but it has fallen since its launch.
As always with crypto, you should do your own research before deciding whether or not to invest in JUP.
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 and up.
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.
Technical analysis by Nikola Lazic.