Jito token sinks 9.2% as Saturday slide nears its daily low

Jito token sinks 9.2% as a Saturday slide nears its daily low

Jito ($JTO) traded at $0.4179 at 11:41 a.m. ET on Saturday, down 9.2% in 24 hours and just above its daily low.

The quick take

Price: $0.4179, down 9.2% in 24 hours (CoinGecko, 15:41 UTC).
Trigger: a broad sell-off across Solana tokens; Jito shared no news of its own.
Watch: whether the token holds its 24-hour low of $0.4176.

What happened

The Jito token sinks to $0.4179 on Saturday, as of 11:41 a.m. ET (15:41 UTC), according to CoinGecko. Jito ($JTO) is down 9.2% from a day earlier. Jupiter’s price feed showed the same level, a gap of just 0.01%.

CoinGecko’s 24-hour range runs from $0.4637 down to $0.4176, so the price sits just above the day’s low. Over 30 days, $JTO is down 11.9%. It also trades about 93% below its record high of $6.01, set on Dec. 7, 2023.

Why it moved

Jito shared no news that explains the drop. The latest post on the Jito Foundation blog dates from Sept. 28, so the cause is not confirmed.

The slide matched a wider pullback. Solana ($SOL) fell 5.2% in 24 hours to $98.97, per CoinGecko. Jupiter Exchange ($JUP) lost 9.7% and Pump.fun ($PUMP) 9.6%. Bitcoin ($BTC) was down 2.6% at $79,384, according to LiveCoinWatch.

Hourly prices on Binance’s JTO/USDT pair show a steady slide, not a single plunge. The token eased from about $0.46 on Friday afternoon UTC to about $0.43 by Saturday midday. It dipped again after 14:00 UTC.

Who’s buying and selling

Sellers led in the token’s main pools. In the Orca JTO/SOL pool, DexScreener counted 592 sells against 442 buys over 24 hours, with $261,633 in liquidity.

GeckoTerminal’s reading of the larger Orca JTO/JitoSOL pool showed 381 sells and 345 buys, with about $1.09 million in liquidity. Across all markets, CoinGecko put 24-hour trading volume at $21.1 million and the token’s market value at $224 million.