MYRO pumps again 755% in a month.

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20 Jan 2024

With a 45% increase in price over the past day, the Solana-based meme coin Myro’s cumulative monthly gains have reached 755%. As of 3:10 a.m. EST, its trading price is $0.2073.
Trading volume is up about 70% in tandem with the value increase, indicating increased interest in MYRO. Myro has managed to outperform its peer meme coin in the Solana blockchain, Bonk Inu (BONK), which is down 5%, with just 14,692 holders, according to data on CoinCarp

Fascinating Details About MYRO: The Price Hits a New All-Time High

Roughly 26 percent of the token supply is held by the top ten MYRO holders, according to CoinCarp. This indicates that ten people possess more than 25% of MYRO’s $194 million market value, or roughly $50.69 million. Roughly 49% is held by the top 50 holders.
In an intriguing twist, the price spike of Myro has caused MYRO to surpass BABYDOGE, the well-known meme coin for the Binance Smart Chain (BSC). According to data on CoinMarketCap, MYRO is currently ranked 238th on market capitalization measures, while BABYDOGE is ranked 251st.
The intra-day high of the January 18 trading session saw the token reach a new all-time high of $0.2198.
Myro stats
The increase in Myro coincides with the excitement surrounding Solana Mobile’s upcoming smartphone, which is out for preorder and will ship in 2025. Investors are ahead of any potential increase that might cause Bonk Inu’s market capitalization to soar from $200 million to $1.4 billion, just like it did for the Bonk price.
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Myro Price Forecast: As MYRO Sets a New Record High
The Myro price may still have further upside potential as it continues to stabilise along a sharp ascending trendline, despite a 755% spike for the month. Indicating increasing momentum, the Relative Strength Index (RSI) is trending north. The Moving Average Convergence Divergence (MACD) and Simple Moving Averages (SMAs) exhibit the same trajectory, indicating that the north is the anticipated region with the least amount of resistance.
If there is more purchasing pressure above the current levels, the price of Myro can continue to rise and recapture the range high of $0.2198.
If this barrier is removed, the Solana-based meme currency may be able to reach the psychological $0.3000 level or maybe go for the $0.2500 level. This would be a 40% increase over the existing levels.
Additionally, the MACD histogram bars are flashing deep green in the positive region, indicating a strong bullish presence in the MYRO market.
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Converse Case
However, MYRO is already overbought because the RSI is currently at 78, which is the overbought area. As a result, investors wishing to open up fresh long positions had to proceed with prudence. Maybe they should hold out on the gain in order to profit from a decline or correction. On the other hand, those who have unfilled posts should probably keep them unfilled.
This presumption stems from Welles Wilder’s book, which states that an asset is ready to be sold when the RSI falls below the 70 mark.
Myro
However, if a downturn occurs, driven by profit booking, the price of Myro may drop. This might cause it to drop below the previous candle’s neckline at $0.1818. If MYRO’s market value continues to decline, it may reach the $0.1523 support level.
In the worst scenario, it might drop into the $0.1209–$0.1398 demand range. It would be verified that the decline is still ongoing if this order block’s midline, or mean threshold, were broken and closed below at $0.1307.
The Myro price could reach the crucial $0.1000 mark after a prolonged decline. Even worse, it might continue to decline to the 100-day SMA at $0.0488 or even lower, to the $50-day SMA at $0.1711.
Analysts believe that Sponge V2 is a new token that might be the next big thing to blow up, as Solana meme coins like BONK, MYRO, and Dogwifhat (WIF) have seen enormous price increases.
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Myro price chart
A Good Substitute For MYRO
Analysts’ top selections for meme currencies that are predicted to rise are Sponge V2. It is an established competitor on the market that appears to be an improvement over Sponge V1. Massive gains were made by Sponge V1, which exploded in May 2023 with 100X returns. Experts are extremely hopeful about the potential of the second version as a result.
According to prominent YouTube crypto researcher Jacob Bury, $SPONGE has increased tenfold from its recent lows. He believes it is in a good position to make even greater gains in the future.
Investors who do not already own SPONGE V1 must acquire the V1 version before they can purchase SPONGE V2. Stake them in the bridging contract after that. The Sponge.vip website contains further information about this.
Up to 306% annual percentage yields (APY) are already being enjoyed by stakers, who have previously staked over 5.277 billion SPONGE tokens.
Invest in and hold $SPONGE now to potentially maximise the returns on your cryptocurrency portfolio.
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