Myro’s value has experienced a sharp decline of nearly 15% within the last 24 hours, halting its significant upward trajectory seen throughout the year.
Based on data from CoinMarketCap, Myro has shown an impressive price surge, starting at $0.02243 on January 1st and climbing to $0.1232, a whopping 450% increase. The coin has surged by 3,030% year-to-date. TradingView has granted the coin a buy rating and an RSI just below 44.
According to CoinCarp data, Myro currently boasts approximately 14,700 holders, with the top ten alone possessing over 26% of the token. This means that a quarter of the token’s $112 million market cap is held by just 10 holders, totaling more than 29 million. Additionally, the top 50 holders collectively own close to half of all Myro tokens.
Myro, a memecoin named after Solana (SOL) founder Raj Gokal’s dog, responds to the demand for dog-themed narratives in the crypto world, as stated on the token’s website.
Myro, a token based on Solana, recommends acquiring it through the Phantom wallet by first purchasing SOL and then exchanging it for the memecoin on a decentralized platform. This method aligns with the broader Solana ecosystem, likely contributing to its growth.
Solana has witnessed rapid growth over the past year, with its price surging by 316% to its current value of $97, reaching a peak of $121 in late December 2023. The total value locked in the Solana decentralized finance ecosystem, which Myro relies on, has steadily increased from $326 million in early October to its current $1.3 billion valuation, representing a 322% rise.
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