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The Jupiter price jumped 21% in the last 24 hours to trade at $1.80 as of 01:54 a.m. EST on trading volume that surged 52% to $654 million.
This comes as JUP rose past $1.8 following the initiation of CWG’s budget proposal, which is currently in the voting process. The CWG proposal is set to fund the first Jupiter Working Group.
Vote on CWG’s Budget Proposal
The vote to fund the first Jupiter Working Group is live! This vote is crucial in setting a precedent to fund working groups to drive the DAO’s initiatives forward.
The CWG has spent a week in community discussions, and has presented their 2024… pic.twitter.com/jYk8XAU9JZ
— Jupiter 🪐 (@JupiterExchange) March 29, 2024
Jupiter Price Set To Continue Its Surge Towards Its ATH
After launch, Jupiter recorded an all-time high of $2.00 on January 31, after which it went through a price correction back to $0.51. JUP then went through a consolidation phase in February, with the bulls dominating to sustain the price within this range.
The resilience shown by the bulls resulted in the price rising in March before encountering some resistance around $1.4. The price movements around this level formed an ascending triangle pattern as the bulls looked to soar the price higher.
JUP is trading above the 50-day and 200-day Simple Moving Averages (SMAs), affirming the bullish sentiments.
Additionally, the Relative Strength Index (RSI) trades upwards over the 70-overbought region at 77, indicating intense buying pressure.
Jupiter Price Prediction
Based on Jupiter’s price analysis, JUP could continue its bullish stance over the upper boundary of the ascending triangle to as high as $2.0. The bulls aim to use the movement of the RSI to drive the price even higher.
However, the RSI has already crossed over the overbought region, which may suggest an incoming price correction. In such a scenario, the bears may seize control, causing a downtrend to $1.36, which coincides with the 50-day SMA.
JUP would negate the bullish outlook if the price drops below $1.36 further down to the next support zone, around $1.11.
Meanwhile, as the JUP price soars, you may want to buy its Solana counterpart, Smog, as the team is set to secure the first centralized exchange (CEX) listing and distribute the biggest airdrop to its holders.
Investors Flock To Smog Amid CEX Listing News
Smog continues to catch the attention of investors, having recorded a 146% increase in the last 30 days, as investors anticipate the greatest airdrop in history. The development team behind the project is ending its Season 1 airdrop, with the grand finale happening on April 3.
In the current giveaway, holders will have the opportunity to share about $1 million set to be distributed in Season 1. The token has surged 24% to $0.218 in the last 24 hours, intensifying the anticipation.
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
The team allocated 35% of its 1.4 billion token supply for the airdrop. You still have time to fulfill the daily tasks on Zealy and earn rewards before the season ends. The second season will mainly focus on on-chain trading.
More investors are interested in the venture due to the team’s commitment to securing a significant listing on a centralized exchange (CEX). While the specifics of the listing remain scarce, there is a chance it could occur this week, potentially paving the way for another listing.
Buy $SMOG Before Listing, Stake For 42% Annual Rewards
The platform allows you to buy and stake $SMOG, earning you an impressive 42% annual percentage yield (APY).
According to Crypto Gains, a prominent crypto YouTuber, Smog has the potential to soar up to 100X.
The best place to buy Smog is on the official website, where you can get a 10% discount while the offer lasts. You need a compatible wallet to swap ETH or BNB for SMOG tokens. Alternatively, you can use your bank card.
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