Jupiter Price Prediction: Solana Token JUP Plummets 63% After Launch, But This Unusual Green Presale Has Soared to Over $720K

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Jupiter’s price has dropped by 63% in the past 24 hours, trading at $0.5899 per coin as of 3:30 AM EST.

Previously, media reports claimed that the Jupiter airdrop strategy was part of a larger plan to influence the performance of the Jupiter decentralized exchange (DEX) and its native cryptocurrency JUP.

A few days later, JUP was listed on Bitfinex, the fourth centralized exchange to list the token, including Bybit, XT.com, and Bilaxy. The token began trading on Bitfinex on January 31. Subsequently, the list of exchanges continued to grow, including Binance, Gate.io, Kucoin, OKX, and HTX Global, all of which listed Jupiter DEX’s JUP token.

Jupiter’s price rallied before the listing but slumped after the event, a classic case of “buy the rumor, sell the news.” This is a trading strategy where traders buy an asset based on speculation of an upcoming news announcement. In this case, that means a listing on Bitfinex and other exchanges. Afterwards, traders sell the asset after the news becomes public.

This adage provides an opportunity for aggressive traders to buy an asset before everyone wants to buy it. This means they are able to sell and profit when demand and the price of the asset rise.

As this situation develops, the price of Jupiter may fall further and may lose the support level of $0.5761. In extreme cases, the JUP token may fall further and test the low of $0.5636.

Conversely, a re-entry of bulls could propel Jupiter’s price higher, breaking out of the descending parallel channel’s resistance. Further gains could push the altcoin to $0.6500 or, in a highly bullish scenario, extend the upside to the range high of $0.7025. Such a move would take it 25% higher from current levels.

Meanwhile, attention has turned to eTukTuk, a new ICO featuring a green cryptocurrency that analysts say could increase 10 times after its launch.

As one of the best ICOs to buy in 2024, eTukTuk is a revolutionary cryptocurrency project that aims to help Tuk Tuk drivers adopt a more energy-efficient mode of transportation.

The project is characterized by its focus on developing countries. The $TUK token drives the project's efforts to bring electric Tuk Tuks and a series of electric vehicle charging stations (EVSE) to developing countries in South Asia and Africa such as Sri Lanka.

eTukTuk differentiates itself from many projects by providing a strong use case. Specifically, it has a clear concept that meets the intersection of blockchain technology and sustainable development.

Investors can purchase TUK tokens on the site at a price of $0.02625 per token, a price that will only be valid for the next twelve days. Click here to participate in the eTukTuk sustainable transportation revolution and purchase the green $TUK token.

In addition, there is a new cryptocurrency mining platform, Bitcoin Minetrix, which allows users to receive free Bitcoin daily by participating in the platform, and is conducting a pre-sale of the native token BTCMTX.

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