In a month marked by volatility in the crypto market, Jupiter [JUP] was the odd one out, showcasing an impressive surge of over 150% in its price over the last 30 days.
Despite the market slowdown, JUP managed to maintain its momentum, catching the attention of both investors and analysts alike.
Weighing on the same, renowned crypto analyst Altcoin Sherpa added,
“$JUP: Wondering if next leg is coming for JUPITER…consolidation and looks ok + btc looks somewhat stable (for now). Might be a decent spot entry here.”
Jupiter follows Bitcoin’s price trajectory
With Bitcoin showing stability, there’s speculation that JUP might replicate its March performance.
Consequently, the analyst suggested that it was a favorable entry point for Jupiter’s token, echoing previous positive sentiments about JUP’s potential for success.
“Winners gonna keep on winning. $PYTH and $JUP are some of the great ones.”
This sentiment reflects a broader confidence in JUP’s trajectory, with the analyst identifying it as one of the standout performers alongside other notable tokens like PYTH.
The recent decision by Jupiter’s co-founder Meow to donate SLERF limit order and DCA fees to presale participants sparked concerns within the community.
This move, made without community consultation, raised eyebrows and drew criticism.
Addressing the same, an X user @DeNomics_ noted,
“Should have put it to a vote in the jup dao, will gladly vote no on this as many others would as well….”
However, Meow clarified that the donation didn’t involve JUP tokens and didn’t significantly impact JUP’s price, despite community turbulence. As evident, JUP closely mirrored Bitcoin’s trajectory in the past week.
This alignment underscores the influence of Bitcoin on JUP’s price dynamics and highlighted the importance of monitoring broader market trends when assessing JUP’s performance and potential.
What’s on the price front?
According to CoinMarketCap, Jupiter witnessed a significant surge in trading volume, soaring by 64.1% within the past 24 hours, while its market capitalization also experienced a notable increase.
Despite a slight dip in performance over the past week, the token has demonstrated an impressive two-week rally. Currently priced at $1.39, JUP reflects a noteworthy uptick in its value.
This shows that JUP could continue its winning streak, attracting further investor attention and potentially driving its value even higher.