Jupiter's native token, JUP, surged 6% in the last 24 hours, defying the market downturn. This rally follows the announcement of a $3 billion token burn and a new buyback program aimed at stabilizing and enhancing JUP’s value.
🔥 $3.6 Billion JUP Token Burn Announced
At the ‘Catstanbul 2025’ event, Jupiter’s founder ‘Meow’ unveiled plans to burn 3 billion JUP tokens, valued at $3.6 billion. This move aims to reduce emissions, increase certainty, and lower the token’s fully diluted valuation (FDV).
Additionally, Jupiter will allocate 50% of protocol fee revenue to a buyback program, holding purchased tokens in a “long-term litterbox.” The remaining revenue will support platform growth and operations, reinforcing long-term stability.
📈 JUP Token Reacts with Bullish Momentum
Following the announcements, JUP hit a 30-day high of $1.28 on Sunday. Open interest surged 25% to $364 million, reflecting increased market participation and bullish sentiment. A positive funding rate of 0.0074% signals growing demand for long positions, further boosting confidence in the token’s upward trajectory.
🔮 JUP Price Outlook: Key Levels
JUP is trading at $0.95 and could climb to $1.08 if buying pressure persists. A stronger bullish trend might push it to $1.22. However, profit-taking could see the price drop below $0.95, with $0.81 as the next support level.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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