Jupiter, a decentralized exchange (DEX) on the Solana blockchain, has surpassed Raydium to become the second-largest protocol by total value locked (TVL). Recently, Jupiter made several positive announcements, including the acquisition of Moonshot and SonarWatch and a commitment to buybacks and token burns. These developments have driven increased activity on the DEX and resulted in a 5% increase in TVL to $2.87 billion. Jupiter's JUP token has also seen a significant increase in demand, with a 24% price uptick in the past 24 hours. Technical analysis suggests the possibility of an extended rally for the token, with indicators indicating buying pressure and a potential bullish trend. If demand continues to surge, JUP's value could surpass resistance at $1.22 and reach $1.46, but a resurgence in selloffs could cause the price to drop to $1.08.



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