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<ul class="news-points"> 
 <li>The JUP token of Solana DEX Jupiter tanked by over 63% after its launch.</li> 
 <li>The Jupiter team has been accused of withdrawing liquidity of the coin.</li> 
 <li>Jupiter’s founder intends to conduct a thorough post-launch analysis later.</li> 
</ul> 
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 63% within just 24 hours of its launch. This starkly contrasts the <a href="https://coinedition.com/alt-coin-explodes-5380-from-0-006-to-0-3288-on-binance-details/">typical pattern observed</a> 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 $0.5795 within the last 24 hours. 
<figure class="wp-block-image size-full">
 <img decoding="async" width="947" height="621" src="https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap.png" alt="" class="wp-image-369127" srcset="https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap.png 947w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-300x197.png 300w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-380x249.png 380w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-768x504.png 768w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-136x89.png 136w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-679x445.png 679w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-377x247.png 377w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-366x240.png 366w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-252x165.png 252w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-322x211.png 322w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-107x70.png 107w, https://coinedition.com/wp-content/uploads/2024/02/JUP-chart-CoinMarketCap-114x75.png 114w" sizes="(max-width: 947px) 100vw, 947px">
 <figcaption class="wp-element-caption">
 JUP chart | <a href="https://coinmarketcap.com/currencies/jupiter-ag/" target="_blank" rel="nofollow">CoinMarketCap</a>
 </figcaption>
</figure> 
Online crypto pundits have pointed accusing fingers at the team behind the project, alleging them of technically rug-pulling the JUP token. In a recent post on X, <a href="https://coinedition.com/critic-adam-cochran-issues-final-warning-on-binance-risky-business/" target="_blank" rel="noreferrer noopener">renowned crypto critic Adam Cochran</a> argued that the Jupiter team allocated 50% of the tokens to themselves, leveraging their platform, which also compensated them.&nbsp; 
Furthermore, he <a href="https://x.com/adamscochran/status/1752906799357825132?s=20" target="_blank" rel="noreferrer noopener nofollow">claimed</a> they withdre…
The post <a href="https://coinedition.com/jupiter-team-allegedly-rug-pulled-jup-amid-63-price-tank-24hrs-after-launch/">Jupiter Team Allegedly Rug-pulled JUP Amid 63% Price Tank 24hrs After Launch</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

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

Coin Edition

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