Jupiter Team Allegedly Rug-pulled JUP Amid 63% Price Tank 24hrs After Launch

The JUP token of Solana DEX Jupiter tanked by over 64% after its launch.

The Jupiter team has been accused of withdrawing liquidity of the coin.

Jupiter’s founder intends to conduct a thorough post-launch analysis later.

The newly introduced JUP token from Jupiter, a decentralized exchange built on Solana, has caught the crypto community off guard with its significant decline of over 64% within just 24 hours of its launch. This starkly contrasts the typical pattern observed among newly introduced crypto assets, which frequently see gains of up to 100% on their first day of trading.

According to data from CoinMarketCap, JUP has tanked from a height of $1.2707 to as low as $0.5590 within the last 24 hours.

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