Jupiter (JUP) has flipped bullish, surging 15% in 24 hours to hit $1. Its market cap now stands at $1.7 billion, with a 1-hour gain of 8.9%, defying the ongoing market pullback.

🔥 Key Reasons for JUP’s Price Rally
The pseudonymous founder, “Meow,” announced at Catstanbul 2025 plans to burn 3 billion JUP tokens ($3.6 billion). This move aims to reduce emissions, lower Fully Diluted Valuation (FDV), and stabilize prices. Additionally, 50% of protocol fees will fund a token buyback program, with repurchased tokens stored in a “long-term litterbox.” The remaining 50% will support growth initiatives.

📈 Rising Market Engagement
JUP’s Open Interest (OI) surged by 25% to $364 million, signaling increased bullish sentiment. Funding rates also climbed to 0.0074%, reflecting growing demand for long positions.

💸 Airdrop and Volume Surge
Jupiter previously airdropped 700 million JUP ($500 million) to eligible wallets. After a slump, trading volume rebounded to $1.74 billion. Analysts predict JUP could hit $1.4 if it breaches the $1.05 resistance. With an RSI above neutral, there’s room for growth before reaching overbought levels.

⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.