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The Myro price is up 45% in the last 24 hours, bringing the cumulative monthly gains to 755% as the Solana-based meme coin trades for $0.2073 as of 3:10 a.m. EST time.
Alongside the value surge, trading volume is up nearly 70%, showing a growing interest in MYRO. With only 14,692 holders, according to data on CoinCarp, Myro has been able to outperform its peer meme coin in the Solana blockchain, Bonk Inu (BONK), which is down 5%.
Interesting Facts About MYRO As Myro Price Records New All-Time High
According to CoinCarp, the top ten MYRO holders own just about 26% of the token supply. This means that more than a quarter of MYRO’s $194 million market capitalization is in the hands of 10 holders, translating to just about $50.69 million. The top 50 holders control around 49%.
In an interesting turn, the surge in Myro price has seen MYRO flip BABYDOGE, the renowned Binance Smart Chain (BSC) meme coin. Now, MYRO is at position 238, while BABYDOGE takes position 251 on market capitalization metrics, data on CoinMarketCap shows.
🚨 Breaking:
— Token Metrics (@tokenmetricsinc) January 18, 2024
The $SOL memecoin $MYRO has flipped $BSC memecoin $BABYDOGE.
It was announced that @MyroSOL is coming alongside the next pre-order of @solanamobile,
Are you bullish? pic.twitter.com/3PcjHZ5rkA
$MYRO made another new ATH.
— CryptoAM17 (@CryptoAM17) January 18, 2024
200mil mc incoming soon.
No idea how high this goes but i’m enjoying the ride.
Always remember to take profits, initials out at the very least.
Can’t go broke taking profits. https://t.co/oHxG8c6Rie pic.twitter.com/HHc3iqjQ5H
The surge in Myro comes amid hype around Solana Mobile’s new smartphone, available for pre-order to be delivered in 2025. Like in the case of the Bonk price, investors are frontrunning a possible surge that saw Bonk Inu’s market capitalization rise from $200 million to $1.4 billion.
🚨 CAN MYRO BE THE NEXT BONK?$MYRO has recently announced it’s coming to the next pre-order of @solanamobile just like $BONK.$BONK went from: $200M to $1.4B Market Cap when it was announced that it will be included in Solana Mobile Phones.$MYRO is currently sitting at a… pic.twitter.com/5TsDWxN98w
— Token Metrics (@tokenmetricsinc) January 18, 2024
Myro Price Outlook As MYRO Records A New All-Time High
After a 755% surge on the month, the Myro price could still have more upside potential as it continues to consolidate along a steep ascending trendline. The Relative Strength Index (RSI) is moving north to show rising momentum. The same trajectory is seen with the Moving Average Convergence Divergence (MACD) and the Simple Moving Averages (SMAs) to show the north is where the least resistance is expected.
Increased buying pressure above the current levels could see the Myro price extend the gains to reclaim the range high of $0.2198. Clearing this blockade could pave the way for the Solana-based meme coin to target the $0.2500 level, or extend a neck higher to the $0.3000 psychological level. Such a move would constitute a 40% extension above current levels.
The histogram bars of the MACD are also flashing deep green in the positive territory, signifying a strong presence of the bulls in the MYRO market.
TradingView: MYRO/USDT 12-hour chart
Converse Case
On the other hand, considering the RSI is already in the overbought territory at 78, MYRO is already overbought. With this, investors looking to take new long positions should exercise caution. Perhaps they should wait the rally out and capitalize on a pullback or correction. Those with open positions running, however, should probably leave them open.
This assumption comes as Welles Wilder’s book says an asset is ripe for selling once the RSI crosses below the 70 level.
Nevertheless, should a correction come, instigated by profit booking, the Myro price could descend. This could see it slip below the neckline of the previous candle at $0.1818. An extended fall could send MYRO market value to the $0.1523 support. In the dire case, it could descend into the demand zone between $0.1209 and $0.1398. A break and close below the midline (mean threshold) of this order block at $0.1307 would confirm the continuation of the slump.
An extended fall could see the Myro price tag the $0.1000 psychological level. Worse, it could extend the fall to the $50-day SMA at $0.1711 or lower to tag the 100-day SMA at $0.0488.
As Solana meme coins like BONK, MYRO, and Dogwifhat (WIF) have had huge price increase, analysts are looking to Sponge V2 as a new token that may be the next to explode.
Promising Alternative To MYRO
Sponge V2 features among analysts’ top picks for meme coins expected to rally. It is a veteran contender in the sector, presenting as an upgrade to Sponge V1. Sponge V1 recorded massive gains, exploding with 100X returns in May 2023. This has experts very optimistic about what the second version could achieve.
Top YouTube crypto analyst Jacob Bury says $SPONGE has advanced 10x from recent lows. He also opines that it looks well-placed for even bigger gains ahead.
Investors looking to buy SPONGE V2 who do not already own SPONGE V1, must purchase the V1 version. Next, stake them in the bridging contract. This has been detailed on the Sponge.vip website.
🛒🔐 New to #SpongeV2?
— $SPONGE (@spongeoneth) January 15, 2024
Learn how to buy and stake $SPONGE on our website and start earning V2 tokens. 😎🙌
Don’t miss out on the special bonus!
#BuyAndStake #AltSeason #Web3 pic.twitter.com/AozJfPxOQP
Stakers are now enjoying annual percentage yields (APY) as high as 306%, with over 5.277 billion SPONGE tokens staked already.
Buy and stake $SPONGE today and it could set up your crypto portfolio for spectacular returns.
Also Read:
- How To Buy Sponge Crypto Token – V1 And V2 Upgrade
- 100X Meme Coin Sponge Prepares For Second Takeoff With Launch of V2 – Is $SPONGEV2 The Best Crypto to Buy Now?
- SPONGE Price Skyrockets 84% In 24 Hours As V2 Bridging Hype Explodes. Is Sponge V2 The Next Pepe Coin?
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- Early Access Presale Round
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- Staking Pool - High Dynamic APY
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