Jupiter Soars 50%—But Will a $33M Token Unlock Crash the Party?

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Jupiter, the crypto token thankfully not as gassy as its planetary namesake, has decided to work out at the gym for a month and come back not just buff, but up a blazing 50%. In the last 24 hours alone, it leapt 10% to $0.6199, apparently feeling sprightly—even though a big token unlock is lurking like that suspiciously cheap sushi you just ate. 🤔

  • Running hot: JUP is up 10%, trading at $0.6199, with all sorts of frenzied activity on spot and derivatives markets. Someone, somewhere, is sweating.
  • About to ruin the party: 53.47 million JUP tokens—gulp, $33 million worth—will unlock on July 28. Not exactly a surprise birthday present.
  • Technical indicators are all excited and bullish, but with RSI near 70, beware of vertigo and spontaneous nosebleeds.

In the span of a month, Jupiter has gone from a weekly low of $0.5215 to touching the lofty summit (well, a local one) of $0.6574. Before you pop the crypto-champagne, note that’s still a whopping 69% below its peak of $2.00 from back in January 2024. What a difference a year makes—especially if most of it is spent tumbling down a price chart.

The markets love a good storyline, and the data surely backs it up: Jupiter’s 24-hour spot trading volume rocketed by 372% to $189.8 million. That’s not just investor interest—that’s investor mania. Lock up your wallets.

For those who prefer their jargon in decimal point form, CoinGlass reports derivatives volume up 238.5% to $393.1 million. Open interest moved up, too, by 22.5%, reaching $202.7 million. Basically, everyone and their dog (and about seven hedge funds) are taking positions, possibly while shouting “YOLO!” at their monitors.

The $33M Token Unlock: Bearish Plot Twist Ahead?

July 28 may go down in crypto history as “The Great Token Unleashing.” Some 53.47 million JUP tokens—roughly 1.28% of the currently circulating supply—will be set free, like pigeons at a bad wedding. Or according to Tokenomist, about $33 million worth, if you need actual numbers instead of metaphors. It might not destroy the ecosystem, but when only 42% of JUP’s 7 billion total supply has been unlocked, that’s a notable bump.

Now, not every token races to the nearest exchange to get dumped, but let’s be honest: extra supply means extra chances for people to cash in their chips. If enough traders get trigger-happy after the recent gains, that could slam the brakes on the momentum, at least temporarily.

The Thrilling World of Jupiter’s Technicals

The daily chart for Jupiter is so bullish it could moonlight as a motivational poster. The price has been marching up along the upper Bollinger Band, with the last candle closing at $0.6207—mere pixels below the upper band at $0.6378. Enthusiasm, thy name is JUP.📈

But lo! The mystical Relative Strength Index is at 65.7, teetering near the fabled 70 level. Technically, this means things are “almost overbought,” which roughly translates to: “If you buy now, prepare for potential whiplash.” Should RSI pop above 70, expect some profit takers to show up faster than free pizza in the office break room.

If Jupiter blasts through $0.6574 on strong volume, the next logical step is $0.70—a nice, round number for people to obsess over. If momentum sticks around, $0.75 is the next mass hallucination target 🎯.

But should things go sideways—or, you know, down—a fall to the mid-Bollinger band ($0.54ish) is in play, especially if that $0.60–$0.58 support zone crumbles after unlock. Drop below $0.54, and suddenly, everyone’s looking nervously at $0.50, where ghosts of trades past are still lurking.

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2025-07-28 08:07