Solana's Memecoin Puppy Myro Clocks 48% Daily Gain: 'Could Flip BONK' Says Crypto Expert
Portfolio Pulse from Khyathi Dalal
Myro, a Solana-based memecoin, saw a 48% increase in price and a 105% increase in trading volume after being listed on ByBit's spot exchange. The listing and subsequent price surge mirror the pattern of another memecoin, dogwifhat. Myro also announced a staking feature in December 2023. The coin's market cap has increased tenfold in 30 days, outperforming other memecoins. Influencer Ben Armstrong suggested Myro could surpass BONK and reach the top 100 coins. Traders are cautioned about the risks of memecoins.
January 18, 2024 | 3:20 pm
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POSITIVE IMPACT
Solana's ecosystem benefits from the attention and increased activity surrounding Myro's surge, potentially leading to a positive short-term impact on SOL's price.
The surge in Myro's price and the increased trading activity on the Solana blockchain could lead to greater visibility and perceived value of the Solana ecosystem, which may positively influence SOL's price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70