Bittime – Myro , a dog-themed memecoin on the Solana blockchain , just experienced a fantastic price increase. This increase came hours after Bluntz, a well-known crypto trader on the X platform , predicted the move.
Bluntz, in his post, saw a 25% price decline (ABC) pattern on Myro's hourly chart. He then warned his followers about the potential for an imminent price increase.
Interestingly, Bluntz's prediction regarding Myro's price reversal from the decline proved accurate. Myro surged hours after Bluntz's post was made.
Data from Myro's hourly chart on TradingView shows that the price did indeed reverse at Bluntz's predicted level, resulting in a gain of 63.92% in the first hour.
Myro's Continued Rise
Myro's price increase then continued, reaching a high of $0.3121 before entering a consolidation phase. At the time of writing, Myro was trading at around $0.2659.
What's even more interesting, the recent price increase managed to bring Myro beyond the previous record high of $0.2599 achieved last January.
This event also sparked increasingly heated discussions among the crypto community. Many are enthusiastic about Myro's potential and see its future as bright.
According to CoinmarketCap data, Myro's market capitalization jumped 51% in the last 24 hours to $252.7 million. Myro's trading volume also experienced a significant increase of 104.8% in 24 hours, reaching $231.7 million.
For your information, Myro is a Solana-based memecoin which was launched in November 2023. As the name suggests, Myro is dog-themed and named after the pet of Raj Gokal, the founder of Solana.
Check Today's Crypto Market:
General Factors for Myro Price Increases
Myro, like many other meme coins, can be influenced by a number of factors that influence its price increase.
However, keep in mind that investing in meme coins like Myro is highly speculative and high risk.
Prices can be very volatile and can experience sharp declines along with sharp price increases. It is important to do thorough research and only invest an amount you can afford to lose.
Below are several factors that might influence the Myro price increase.
Also Read: Dogecoin Price Soars, Doubling in Value, While Shiba Inu Price Soars Threefold
1. Market Sentiment
General market sentiment towards meme coins and crypto as a whole can influence the price of Myro. If the market is bullish and investor interest in meme coins increases, Myro may experience a price increase.
2. Project Announcement
Announcements about new developments, partnerships, or changes in the Myro ecosystem may trigger price increases. These announcements may increase investor confidence and interest, possibly causing demand and prices to rise.
3. Community Activities
Strong and engaged community activity can play an important role in Myro price growth. If the community is active in promoting and supporting the project, this can attract new interest and increase prices.
4. Speculation and FOMO
Speculation and fear of missing out (FOMO) are important factors in the price rise of meme coins like Myro. If there is an expectation that the price will rise significantly, investors may be tempted to buy Myro, which may trigger further price increases.
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5. "Whale" Influence
Large transactions from “whales” or large holders of Myro can influence the price significantly. If the “whale” decides to buy or sell large amounts of Myro, this can cause sharp price changes.
6. Market Trends
Overall crypto market trends can also influence the price of Myro. If the market is bullish and many other crypto assets experience price increases, Myro may follow the trend.
7. Outstanding News and Developments
Positive news about Myro or crypto in general, such as new adoptions, endorsements from famous figures, or other extraordinary events, can trigger an increase in the price of Myro.
How to Buy Myro (MYRO) on Bittime
You can buy and sell Myro (MYRO) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Myro (MYRO) is available on Bittime with the market pair MYRO/IDR . To be able to buy MYRO IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Myro (MYRO) on Bittime .
Monitor the price chart movements of Myro (MYRO) , Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
What is Myro (MYRO): Meme Token Competitor to BONK, DOGE & SHIBA
Moonbag Crypto: What is it and What is the Strategy?
DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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