Today, January 25, 2024, the cryptocurrency market as a whole is facing challenges. However, amidst this turmoil, Jupiter’s native token, JUP, on the Solana-based decentralized exchange is standing out by showing an impressive price increase. In the last 24 hours, this significant surge in price has caught the attention of traders and investors alike.
The Reason Behind Jupiter’s Price Surge
The main reason for this remarkable uptrend could be attributed to Jupiter’s recent acquisition of a majority stake in Moonshot, a company that facilitates the buying and selling of meme coins on iOS and Android platforms. The acquisition was announced by Jupiter’s founder, known as “Meow,” on X (formerly Twitter).
This strategic move opens up new avenues for growth for the decentralized exchange.
$6.5 Million Inflow of JUP
Despite the positive price momentum, reports from the on-chain analytics firm Coinglass indicate that long-term holders and investors have been offloading their holdings. Data shows that exchanges have seen an inflow of JUP worth $6.5 million in the last 24 hours.
This influx onto exchanges suggests a potential sell-off by investors, which could lead to increased selling pressure and a temporary price correction.
Current Price Movement
Currently trading at approximately $1.01, JUP has surged by over 17% in the past day. The trading volume has also spiked by 95%, indicating heightened interest from traders and investors compared to the previous day.
Jupiter (JUP) Technical Analysis and Future Levels
Technical analysis experts point out that the recent price surge has brought JUP to a strong resistance level at $1. This level has historically acted as a point of selling pressure for JUP. However, with the recent acquisition, there is optimism that JUP could break through this resistance level.


If JUP manages to break above the $1.05 mark and close a daily candle at that level, there is a strong possibility of a 37% surge to reach $1.40. With an RSI of 55, there is still room for further upward movement, indicating a positive outlook for JUP.