The concept is really fun, and the graphics are very nice, but there is a bit of polish lacking. It wasn't that obvious what I was to do in the beginning, and the game is too fast to be able to react to everything.
If you were to continue this project after the game jam and add a bit more polish in areas where it's needed, I think this could become a really fun arcade style experience. Having to keep the meter up whilst falling is just a fun idea.