Myro’s worth has dropped almost 15% up to now 24 hours, pausing its vital upward development all year long.
In accordance with CoinMarketCap information, Myro has seen its value enhance from $0.02243 on Jan. 1 to $0.1232, marking a value enhance of about 450%. The coin can be at present up 3,030% over the 12 months so far. TradingView provides the coin a purchase score and a impartial RSI of just below 44.
![What is Myro and why is it up 450% in 2024? - 1](https://crypto.news/app/uploads/2024/01/MYRO_1Y_graph_coinmarketcap.png)
CoinCarp information reveals that Myro at present has just below 14,700 holders, with the highest ten alone proudly owning over 26%, displaying that over one-quarter of the token’s $112 million present market cap is owned by simply 10 holders — translating to over 29 million. Moreover, the highest 50 holders personal almost half of all Myro tokens.
![What is Myro and why is it up 450% in 2024? - 2](https://crypto.news/app/uploads/2024/01/image-49-1024x302.png)
Myro is a memecoin named after the homonymous canine of Solana (SOL) founder Raj Gokal. In accordance with the token’s web site, it responds to the favored demand for dog-based narratives within the crypto house.
Myro is a Solana-based token, and the formally beneficial strategy to purchase it’s to obtain the phantom pockets, buy SOL, and solely then swap for the memecoin by way of a decentralized change. That strategy is intertwined with the broader Solana ecosystem, doubtless contributing to its development.
Over the previous 12 months, Solana has seen aggressive development, with its value has elevated by 316%, reaching its present worth of $97 after peaking at $121 in late December 2023. The full worth locked on the Solana decentralized finance ecosystem — that Myro depends on — has seen a gradual enhance from $326 million firstly of October to its present valuation of $1.3 billion, representing a 322% enhance.
![What is Myro and why is it up 450% in 2024? - 3](https://crypto.news/app/uploads/2024/01/image-48-1024x274.png)