Jito token (JTO) has experienced a significant increase in value, soaring 600% since December 7th. Despite recent listings on CoinSpot and Bitget exchanges, the price has remained relatively stable at $3, with a market cap of $356 million. However, Bitget officials predict a potential growth of nearly 2,500% in the future.

Ryan Lee, Chief Analyst of Bitget, believes that Jito’s market valuation and future outlook are influenced by the majority of circulating shares being airdropped and provided to liquidity providers. It is anticipated that Jito may challenge a total market cap of $10 billion next year, driven by market trends and Solana’s development. However, a gradual decline in price is expected starting from the end of 2024 due to market dilution.

Jito is a Solana-based protocol, and its success depends on overall investments in the blockchain. Recent data shows that Solana inflows have been significant, surpassing $3 million, which should be encouraging for Jito supporters.

Although Jito is still a relatively new token, its trading volumes have decreased from $1.17 billion on December 9th to $445 million on December 12th. This decline in trading volumes could indicate a decrease in interest among traders and potentially lead to a cooling-off period for the token.

From a technical standpoint, Jito’s price has dropped to a support line at $3, and with decreasing trading volumes, a full recovery in the near future seems unlikely. If the downward trend continues, Jito could potentially drop to its previous down-sloping support trendline at $2.6, representing a 13% decrease from its current value.

Further analysis and on-chain metrics will provide more insight into Jito’s price action and market cap in the upcoming sessions.