Jupiter ($JUP), Solana’s leading decentralized exchange (DEX), has skyrocketed 100% in price, currently trading at $0.6134 after bouncing from a low of $0.3064 just over a month ago. This explosive rally, coupled with a $2.6 billion total value locked (TVL), has sparked speculation that Jupiter could seriously challenge Uniswap for dominance in the DEX arena.
With trading volume up 144% in the past 24 hours, and a steady stream of ecosystem upgrades, bullish sentiment is growing that $JUP could soon hit $1—and maybe even go beyond.
Solana’s Rising Star: Jupiter’s Big Moves into Lending and Wallet Tech
Jupiter has been quietly gaining steam within the Solana ecosystem. Through a new partnership with Fluid, it’s entering the lending market, aiming to go head-to-head with Kamino Finance. But lending is just one part of the expansion.
The protocol’s developers have also revamped the Jupiter wallet, offering users a unified view of their crypto and DeFi assets across all wallets—perfect for multitasking traders and yield farmers alike.
Another standout feature, Universal Send, launched on May 7. This tool lets users send tokens to anyone—even those without a wallet—using just a wallet address or a QR code. Jupiter is building convenience into DeFi, and traders are responding.
Massive TVL and Trading Volumes, Yet $JUP May Still Be Undervalued
Despite clocking over $2 billion in daily trading volume and sitting atop $2.6 billion in TVL, Jupiter’s market cap lags behind at just $1.8 billion. Many investors believe that’s a sign $JUP is still undervalued compared to rivals like Uniswap ($UNI), which sports a $3.9 billion cap.
The market seems to be taking notice. In the last 24 hours alone, $490 million worth of JUP changed hands, with open interest also jumping 12%. Chart watchers say this signals growing trader conviction.
Bullish Pattern Targets $1—Will It Break Through or Bounce Back?
Technical analysis shows $JUP has broken out of a months-long downtrend, overcoming resistance from a descending trendline that began after February’s peak near $1.40.
The MACD momentum indicator has flipped positive, confirming bullish energy behind the move. But to keep climbing, Jupiter must reclaim $0.8387—a former support level that could now act as resistance.
If that level breaks cleanly, $JUP could rally toward $1.00, and potentially beyond to $1.21 and $1.41. However, if bulls lose grip on the $0.55–$0.60 support zone, a reversal toward April’s lows can’t be ruled out.
