Jupiter's native token, JUP, has experienced a 6% increase in the past 24 hours despite the broader market downturn. This surge follows the announcement that the decentralized exchange will burn some JUP tokens and allocate half of its fees to buy back tokens. JUP's value immediately soared to a 30-day high of $1.28 after these announcements. Open interest and positive funding rate indicate growing market participation and bullish sentiment. If buying pressure continues, JUP's price could reach $1.08 or even $1.22. However, a shift in the market trend towards profit-taking could cause the price to drop below the support at $0.95 to $0.81.



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