Altcoin
Top Reasons for Jupiter Price Crash 8% Today
JUP, the native cryptocurrency of Solana-based decentralized exchange (DEX) Jupiter, came crashing down by 8% today amid the breach of its official X account, which was shilling meme coins. The Jupiter price is down 8% today, currently trading at $0.88, with daily trading volumes crashing by 49%.
Jupiter Price Crashes Amid DEX Security Breach
The Jupiter price is down 8% amid strong selling pressure As the official X account of Jupiter decentralized exchange was compromised earlier today, shilling some meme coins on the platform. The development caused instant panic, triggering strong sell-offs for JUP.
Following the development, JUP failed to hold above $1.0 and has come crashing down all the way to $0.88 as the daily trading volume tanked 49% to under $175 million. As per the Coinglass data, the JUP futures open interest has also dropped 7.66% to $150.79 million. On the other hand, the 24-hour liquidations have soared to $1.1 million of which $1.05 million is in long liquidations.
Hackes Promoted Meme Coins MEOW
Deleted posts from Jupiter’s main account allegedly promoted a scam meme coin with the ticker MEOW. Reports suggest the token briefly hit a $30 million market cap within seconds before the posts were removed and the coin experienced a rug pull.
Data from GeckoTerminal shows the MEOW token, just four hours old, surged to a market cap of over $8 million before collapsing by more than 98%, ultimately plunging to $88,000. The Jupiter DEX has been in the news recently following its latest acquisition of crypto trading platform Moonshot.
DEX Recovers Within a Few Hours
Following the breach of their X account, the Solana-based decentralized exchange (DEX) Jupiter informed that they have regained control of their accounts. Commenting through their official X handle, the DEX stated:
“No customer or treasury funds were ever in danger. All programs and funds are in held in secure multisigs. No other comms channels were affected. Jupiter is fully secured. This issue was isolated to twitter alone”.
The exchange said that they are still figuring out what led to the security lapse. Although they had initiated several security measures, the hacker managed to find his way out.
Update on the Twitter Hack:
In short, our Twitter security measures were stringent and implemented properly at every level. And further, all Jupiter products and team members were safe and no funds or info were ever at risk.
The account takeover was completed without triggering…
— Jupiter (🐱, 🐐) (@JupiterExchange) February 6, 2025
JUP Price Action – Buy The Dip?
Crypto trader Gery Cat noted that this could be the right time to buy the Jupiter price dips. The analyst added that Jupiter (JUP) is gaining attention as its price action interacts with a critical Daily Fractal Point (FP), forming a Daily Rebound (RB) zone. He suggested that this zone could serve as a potential area of interest for traders considering long positions.
He further highlighted that the ideal bullish scenario would involve Jupiter price testing its 4-hour Fractal Point within the support area. A confirmation of buyer strength through significant volume at these levels would further solidify the case for upward momentum.
However, considering the recent crypto market volatility, investors should be cautious ahead of building new positions.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A TRUMP crypto whale extended its overall losses to over $15 million as the PolitiFi token crashed roughly 10% this Friday. On-chain metrics indicated that the whale recently sold 743,947 tokens, worth almost $8 million, amid an ongoing price slump. This trade maneuver is what slammed the whale’s total losses to over $15 million with the token.
TRUMP Crypto Whale Dumps Heavily Amid Sluggish Price Action
According to an X post by Lookonchain on March 28, a TRUMP crypto whale sold $7.92 million worth of coins in the past 24 hours. This trade maneuver presented the trader with a severe $3.3 million loss. Meanwhile, it’s noteworthy that the selloff occurred at an average price of $10.66.
Further, data suggested that this whale only profited on his first trade with the PolitiFi token. All other trades made subsequently brought losses to a total of $15.7 million.
TRUMP Coin: A Fall From Grace
The U.S. President-themed token gained significant traction across the market promptly after its inception. The PolitiFi token saw its price rise from $8 level to $74 within a week of its launch, securing a prominent spot on crypto traders’ radars.
However, the buzz was short-lived as the TRUMP crypto’s price crashed to a $10 level to date. As of press time, TRUMP price cracked 9% intraday and exchanged hands at $10.35. The PolitiFi token slammed nearly 20% over the past month.
Overall, the broader waning action appears to have prompted the whale’s selloff. Meanwhile, market watchers reflect a cautious approach as the dumps signal a loss of confidence in the asset’s future potential.
Can TRUMP Price Recover?
It’s worth mentioning that a recovery to previous highs remains highly questionable, given the current market scenario. Nevertheless, a renowned market analyst has recently conveyed a highly bullish outlook for the coin’s future price action.
Analyst Crypto Gems on X revealed that the crypto’s price chart shows a double bottom pattern, whilst the potential for a bullish reversal also persists. The next price target for TRUMP crypto remains at $13, per the analyst. A sustained break above this level could fuel a rally to $18 or even $25.
Nevertheless, a trading session above $50 and near previous highs remains out of the question as the token even slipped from one of the top cryptos by market cap to 45th.
Additionally, a recent TRUMP price prediction by CoinGape revealed that the 3-month bias indicator remains 61% in favor of bears. This stat added to market concerns surrounding the coin’s future price prospects.
Nevertheless, as Donald Trump continues to usher pro-crypto movers in the U.S., market watchers anticipate some relief in price movements ahead. Notably, TRUMP price previously rallied 10% in just a day, CoinGape reported last week. However, the token failed to sustain this bullish movement, only adding to investor concerns.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Investing Scope has predicted that the Dogecoin price is set to reach the much-anticipated $1 level. The analyst also suggested that now is a great time to accumulate the foremost meme coin as a once-in-a-year buy opportunity returns.
Dogecoin Coin Eyes Rally To $1 As Buy Opportunity Returns
The Dogecoin price is eyeing a rally to $1 as a buy opportunity returns. In a TradingView post, Investing Scope mentioned this $1 target while revealing that this once-in-a-year buy opportunity is aiming for the 1.618 Fibonacci extension on the higher high trendline. His accompanying chart showed that the projected rally for DOGE is already in play and that a deeper correction is unlikely.
Commenting on the current Dogecoin price action, the analyst stated that DOGE is neutral on its 1-day technical outlook. He added that the foremost meme coin is recovering from its prior oversold state and testing the 1-week MA50 for the first time in three weeks.
This current rebound is said to have been made after the Dogecoin price touched the 1-week MA200, which the analyst claimed is the new long-term bottom, similar to August 5th, 2024, and October 9th, 2023.
Crypto analyst Master Kenobi also recently predicted that the Dogecoin price could reach $1 by June later this year. The analyst revealed that DOGE is mirroring a bullish pattern from the 2017 bull run, which is why he believes that the foremost meme coin could reach this price target. This projected rally to $1 will represent the second phase of Dogecoin’s bull run, just the same way there were two equal pumps in the 2017 market cycle.
Key Levels To Watch For DOGE
In an X post, crypto analyst Ali Martinez revealed the key levels to watch for the Dogecoin price. He highlighted $0.177 and $0.207 as the major support and resistance levels for the foremost meme coin. He added that these levels are crucial for determining the next price movement.
In an earlier post, Martinez stated that the SuperTrend indicator suggests that the Dogecoin price could enter a bullish phase upon breaking the $0.21 resistance level. Market participants are betting on a bullish reversal for DOGE as Martinez revealed that 76.65% of traders on Binance futures are long on the meme coin.
Crypto analyst Trader Tardigrade is also predicting massive moves for the Dogecoin price. In one post, he stated that the meme coin’s macro chart follows the DOGE cycle. His accompanying chart showed that the foremost meme coin could rally to as high as $8 in this market cycle.
At the time of writing, the Dogecoin price is trading at around $0.18, down over 6% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Adobe Stock, chart from Tradingview.com
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The Securities and Exchange Commission’s (SEC) decision to drop lawsuits against several major crypto players has left the Ripple case as a notable exception. Recently, the US SEC dismissed litigations against Kraken, Cumberland, and Consensys, sparking curiosity about the status of the XRP lawsuit. Fox Business journalist Eleanor Terrett took to X to share insights on the possible reasons behind the SEC’s delay in the Ripple case.
Let’s take a closer look at the Ripple case and the SEC’s decision to exclude the platform while dropping lawsuits against other crypto companies.
Is US SEC Further Delaying the XRP Lawsuit?
In her recent X post, Fox Business reporter Eleanor Terrett shared insights on the possible reasons for the SEC’s delay in the XRP lawsuit. While the SEC intentionally missed Ripple while dismissing cases against other major firms, Terret stated that the move wasn’t surprising.
Emphasizing the unique circumstances of the Ripple case, Terrett stated, “No Ripple here but I’m not entirely surprised because, again, it is slightly different to these other cases.” The journalist pinpointed the complexities surrounding the XRP lawsuit unlike other crypto lawsuits.
The SEC’s approach to resolving the XRP lawsuit differs from other crypto cases due to an existing injunction. To move forward, the SEC must request Judge Torres to lift this injunction, allowing them to proceed with voting on the withdrawal of the appeal and other related matters.
SEC Dismisses Kraken, Cumberland, Consensys Cases
In a recent development, the US SEC officially announced the dismissal of the crypto lawsuits involving Kraken, Cumberland, and Consensys. This decision comes after the SEC filed a joint stipulation with each company. The filing agrees to dismiss the cases with prejudice, meaning they cannot be refiled.
It is noteworthy that the dismissal comes without any financial implications for the crypto firms. Dropping the lawsuits, the Commission underscored the irrelevance of the cases. However, the regulator clarified that its decision does not imply a change in its position on the underlying issues of the lawsuits.
As highlighted by Terrett, these dismissals do not impact or influence the ongoing XRP lawsuit. Meanwhile, the Ripple lawsuit is expected to follow specific procedures, which may lead to a delay in its conclusion. The settlement process for the Ripple lawsuit involves several steps. This includes the SEC’s request to lift the existing injunction and the subsequent voting on the withdrawal of the appeal.
Recently, attorney Fred Rispoli shared a possible timeline for the Ripple case settlement. He stated that the lawsuit will end within the next 60 days.
How This Delay in the Ripple Lawsuit Settlement Impact XRP Price?
Amidst the complexities and uncertain timeline surrounding the Ripple case settlement, the XRP price faces major corrections. As of press time, XRP is trading at $2.21, with a 5.38% dip in a single day. Over the past week and month, XRP has plummeted by 6.7% and 2.2%, respectively.
Despite this negative trend, a positive sentiment persists among investors, as indicated by a 17.6% surge in trading volume, currently at $3.85 billion. This sparks a bullish prediction for XRP, with analysts foreseeing its ascendance to $11.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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