Crypto analyst CobraVanguard has suggested that the Solana-based meme coin MYRO could be the next to reach a $1 billion market cap. This follows his prediction that the meme coin could enjoy a 200% price surge from its current 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.
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A rise to $0.2 means that the Solana meme coin could rise above a market cap of $200 million. Based on CobraVanguard’s prediction, MYRO will likely enjoy further moves to the upside, potentially placing a $1 billion market cap in sight. Crypto analyst SwallowPremium also provided a bullish outlook for the mem coin, stating that a breakout above the $0.2 level will lead to further moves to the upside.
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
Crypto analyst Yzzz also stated in an X post that the MYRO price breakout will soon happen. The analyst noted that if Bitcoin moves to the upside, the meme coin will surely “run hard.” He added that the chart has been primed for a while, seeing as it bottomed and the time-based capitulation has happened.
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Meanwhile, Yzzz also cited that MYRO was already listed on Binance and Bybit for perpetuals trading. He noted that this is the Solana meme coin with the lowest market cap to achieve this feat. As such, he expects the coin to go higher, seeing how much attention it already has through the largest centralized exchanges (CEXs).
Interestingly, the crypto analyst boldly claimed that MYRO would soon outperform the foremost Solana meme coin, Dogwifhat (WIF). He revealed that both meme coins have traded closely for some time now. However, he expects that to change soon enough, with MYRO coming out on top. In line with this, he advised market participants to place their bets and believe in something.
At the time of writing, MYRO is trading at around $0.08, up over 15% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
https://www.newsbtc.com/meme-coin/solana-based-myro-1-billion-200/
2024-10-07 12:30:14
