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The Jupiter price tumbled 8% in the last 24 hours to trade at $0.4973 as of 05:32 a.m. EST on trading volume that dropped 30% to $347 million.
The price decrease comes as Jupiter introduces Sanctum, Sharky, and deBridge as LFG Launchpad candidates. Such a launch emphasizes community-driven decisions and fosters active participation with incentives and decentralized autonomous organization (DAO) dynamics.
Solana's Jupiter DEX aggregator unveils three potential projects for its LFG launchpad, including liquid staking service Sanctum, NFT collateral platform Sharky, and cross-chain provider deBridge. Community input crucial; JUP tokens withdrawn from launch pool. Jupiter plans DAO…
— BlockVoyager (@BlockVoyagerAIO) February 9, 2024
Following its airdrop, the JUP price plunged, and the fall persisted.
#Jupiter Exchange's native token #JUP is continuously falling after listing on the exchange.
Now currently the price of $JUP is $0.5033 https://t.co/Ke4pdQRB8Y pic.twitter.com/Wtr5nCu48a
— Akash Majumder (@akashactt) February 9, 2024
With Jupiter’s upcoming plans for a DAO initiation aimed at enhancing governance and incentives, the question arises: Can its price recover?
Jupiter Price Trading On A Channel Down
The Jupiter price has been on a downtrend in the past two days after experiencing a markup phase. The bulls faced resistance at the $0.6 mark, allowing the bears to gain control of the price, driving the price down within a channel-down pattern.
JUP price bears have been able to breach the critical support level at $0.52 as they close in on the next support at $0.45. The Jupiter price is trading below both the 50-day and 200-day Simple Moving Averages (SMAs), coinciding with the overall downward trend of the price.
However, the Relative Strength Index (RSI) is on a rebound from below the 30-oversold region at 31 and heading north. This may be a sign of a potential rebound, as the bulls use these levels for entry.
Furthermore, the Moving Average Convergence Divergence (MACD) line (blue) supports the current trend as it trades slightly below the signal line (orange). The lines are nearly touching, which in perspective means that the price is preparing for a potential rebound. The histogram also shows the red bars extending slightly on the downside.
The Average Directional Index (ADX) is at 45, showing a very strong trend, showing that it is the best time to buy as a bullish reversal is likely.
Jupiter Price Prediction
The Jupiter price is currently on a downtrend but with signs of a breakout on the upper boundary of the channel. Bulls might find solid support around the $0.4903 level, serving as a cushion against downward pressure and potentially propelling prices upward to test the $0.54 mark.
However, if the bears continue exerting pressure, the price may retrace further to the crucial support zone at $0.45.
As the JUP bulls search for an entry, the eTukTuk presale has crossed $867,000, closing in on its $1 million target as investors eye a potential 10X return.
eTukTuk Presale Has Crossed $867,000 – Best Eco-Friendly Altcoin To Buy Now
eTukTuk (TUK) eTukTuk is an innovative, AI-powered transport solution set to transform transportation, starting with developing nations and expanding globally. By using blockchain technology, the project is creating the future of charging infrastructure.
Happy New Year from eTukTuk! 🎉
As we usher in 2024, let's ride into a year of green journeys, sustainable choices, and impactful collaborations.
Together, let's drive change and make it a year of sustainable mobility! 🚗💚#NewYear2024 pic.twitter.com/IfP0xdGi05
— eTukTuk (@eTukTukio) January 1, 2024
eTukTuk operates on the Binance Smart Chain, utilizing a decentralized sharing economy model to enhance scalability, security, and efficiency.
Moreover, eTukTuk offers a cleaner, healthier alternative to traditional internal combustion engine (ICE) Tuk Tuks, positioning itself as a leader in the eco-friendly electric vehicle charging station infrastructure (EVSE) sector.
Buy and Stake $TUK, Get Rewarded
You can buy and stake your $TUK tokens, which can earn you an impressive annual percentage yield (APY) of 252%. The more you stake, the higher your rewards.
Introducing Buy and Stake mechanism, get $TUK tokens and instantly stake them, initiating a dynamic APY.
Early stakers enjoy higher returns as APY adjusts with participation, encouraging early adoption and a fair, enticing incentive structure for all. 💫 pic.twitter.com/pMrXEZzB3f
— eTukTuk (@eTukTukio) October 10, 2023
The team is also launching a play-to-earn (P2E) game, Crazy Taxi, where you will be able to earn $TUK by ferrying passengers to different locations in the busy streets of Sri Lanka.
Jacob Bury, a popular YouTube crypto analyst, believes eTukTuk has the potential to 10X on launch.
The eTukTuk presale has less than 13 days remaining before prices go up, so act soon if you are interested to buy TUK tokens at the lowest possible price of $0.0265 per token.
You can buy $TUK tokens today by visiting the official eTukTuk website. Swap BNB or USDT for $TUK tokens or buy directly using your bank card.
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