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The Jupiter price has pumped 12% in the last 24 hours to trade at $0.6304 as of 8:22 a.m. EST on trading volume that rose 4.4% to $388 million.
Jupiter’s market share has surged alongside Solana’s strong performance, establishing it as the second-largest decentralized exchange (DEX) after Uniswap.
The platform’s innovative strategy, which involves smart routing and splitting trades across different DEXes, such as Orca and Raydium, has given users access to arguably the best trade prices and improved liquidity.
The recent airdrop of the $JUP token has also fueled interest in Jupiter.
Jupiter Price Breaks Above The Consolidation Stage
JUPUSDT Analysis By Tradingview
The Jupiter price has broken above the prolonged consolidation stage, as the support zone at $0.4565 acts as a launchpad, helping the bulls push the price up.
Despite experiencing a brief pullback, the bulls took advantage of the support level at $0.5504 to drive the price further upwards in a bull rally, breaking the $0.60 high.
Jupiter’s price action paints a picture of strength and resilience, with the token trading above the 50 and 200 simple moving averages (SMAs) currently acting as immediate support for the Jupiter price.
The Moving average cross at $0.4968 affirms the general bullish momentum, empowering the bulls to continue the bullish stance above the consolidation stage.
Though indicating a slight pullback, the Relative Strength Index (RSI) is still upward at 60, rebounding from the 50 neutral position. Continuous upward momentum could see the RSI jump into the overbought zone of 70, confirming the overall bullish sentiment.
Jupiter Price May Decline In The Short Term
The Jupiter price bulls seem poised to continue the trend, aiming to reclaim its all-time high (ATH). However, the resistance level at $0.6493 has prevented the bulls from further profiting, encouraging the bears to drive down the price in a correction to recoup their losses.
If the bearish correction sustains, the bears could force a downturn to $0.5833. A further push downwards would see the bulls retreat to the upper boundary of the consolidation channel.
If you missed the Jupiter price surge, you could diversify your portfolio with SMOG, which is promising the launch of the biggest airdrop in history. It’s also surged 16% today to outperform JUP.
SMOG Meme Coin: A 100x Crypto Gem
SMOG debuted on the Jupiter DEX in early February and immediately soared over 3,000%, producing enormous returns for early buyers.
Smog is generating even more excitement by announcing a massive airdrop, which is touted as “the greatest in history.” This presents a fantastic opportunity, especially for investors who missed Jupiter’s $700 million airdrop on Solana.
The Smog team is allocating 35% of its total 1.4 billion token supply to be distributed to community members.
Earn More Points On Zealy For The Airdrop, Enjoy 42% APY
Buying and holding SMOG in your wallet qualifies you to participate in the Smog airdrop. However, to qualify for more airdrop tokens, you can join Smog’s socials managed by Zealy by taking part in tasks through quests and completing them to accumulate points.
Currently, over 800,000 quests are already completed.
Holders of BONK, WIF and MYRO are also receiving $1,500 worth of SMOG tokens through airdrop distributions every day.
Join the #SMOG community on #Zealy and increase your points for the $SMOG #Airdrop. 🐲
Complete quests for extra points! 📊
Stay tuned for upcoming announcements. 📢🔗https://t.co/3EQxvQwsw3#CryptoCommunity #Altcoins #Memecoins #Binance #Crypto
— SMOG (@SMOGToken) February 21, 2024
The project is currently making arrangements for listings on additional major exchanges, presenting an ideal moment to get involved. With over 30,000 SMOG holders, the project currently offers an impressive 42% annual percentage yield (APY).
SMOG has also caught the attention of analysts like CryptoGains, who says SMOG has the potential to surge 100X on launch, helping to mint a new batch of millionaires this year.
Buying Smog on the official website and receive a 10% discount. You will require a compatible wallet to swap your ETH or USDT and be eligible for the historic airdrop.
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