As a seasoned analyst with over a decade of experience in the crypto market, I find CobraVanguard’s prediction intriguing. Having closely followed the meme coin sector, I can attest that such price surges are not unheard of, especially for coins like MYRO that have already garnered significant attention. The formation of a falling wedge on the daily timeframe, combined with the Fibonacci line of 0.618 as a potential target, certainly suggests an upside potential.
According to crypto expert CobraVanguard, the meme token MYRO, built on the Solana platform, might soon achieve a market capitalization of $1 billion. This forecast is based on his prediction that the token’s value could potentially increase by 200% from its current price level.
Why MYRO Could Enjoy A 200% To $0.2
CobraVanguard mentioned in a TradingView post that the meme coin is forming a falling wedge on the daily timeframe. He claimed that MYRO could enjoy massive upside moves if it breaks out from its current resistance. The analyst added that he expects the price to go up to the Fibonacci line of 0.618, which is at $0.2.
If Solana’s meme coin increases to $0.2, it could surpass a market capitalization of $200 million according to forecasts. CobraVanguard predicts that MYRO may continue its upward trend, possibly reaching a market cap of $1 billion. SwallowPremium, another crypto analyst, is also optimistic about the mem coin, suggesting that a jump above the $0.2 mark could trigger further gains in value.
It is worth mentioning that MYRO’s current all-time high (ATH) is at $0.4, a price level reached in March earlier this year. As such, a run up to its current ATH will likely be on the cards if the Solana meme coin reaches $0.2. A run to its current ATH will put it above a $400 million market cap, further strengthening the community’s belief that the coin could reach a $1 billion market cap.
The Price Breakout Will Soon Happen
According to crypto analyst Yzzz in a recent post, there’s a strong possibility of a MYRO price breakout occurring soon. The analyst explained that if Bitcoin experiences an upward trend, MYRO is likely to surge significantly. Additionally, he pointed out that the chart for MYRO has been prepared for some time now, as it has bottomed and a period of capitulation based on time has passed.
Simultaneously, Yzzz pointed out that MYRO was previously available for perpetual trading on Binance and Bybit. He mentioned that this makes MYRO the Solana meme coin with the smallest market cap to reach such a milestone. Given this, he anticipates that the coin could rise further, considering the significant attention it has already garnered from major centralized exchanges (CEXs).
It’s worth noting that a crypto analyst has confidently predicted that MYRO could surpass Dogwifhat (WIF), the leading Solana meme coin, in the near future. He explained that these two meme coins have been trading similarly for some time, but he anticipates a shift, with MYRO taking the lead. Consequently, he suggested that investors consider investing in MYRO and maintain their faith in its potential.
Currently, MYRO is approximately valued at $0.08 per unit, having increased more than 15% within the past 24 hours, as reported by data from CoinMarketCap.
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2024-10-07 15:40