What is Miro and why is it up 450% in 2024?
Miro’s value has fallen nearly 15% in the last 24 hours, halting its significant upward trend for the year.
The price of Myro increased from $0.02243 to $0.1232 on January 1, marking a price increase of approximately 450%, according to CoinMarketCap data. The coin is also up 3,030% year to date. TradingView gives the coin a Buy rating and a Neutral RSI below 44.
Myro currently has just under 14,700 holders, with the top 10 holding more than 26%, according to CoinCarp data. This shows that just 10 holders own more than a quarter of the token’s current market cap of $112 million. That’s over 29 million people. Additionally, the top 50 holders own almost half of all Myro tokens.
Myro is a memecoin named after Solana (SOL) founder Raj Gokal’s eponymous dog. According to the token’s website, it responds to the popular demand for dog-based stories in the cryptocurrency space.
Myro is a Solana-based token, and the officially recommended way to acquire it is to download Phantom Wallet, purchase SOL, and then exchange it for memecoins through a decentralized exchange. This approach is intertwined with the broader Solana ecosystem and will likely contribute to Solana’s growth.
Over the past year, Solana has shown aggressive growth, with its price rising 316%, reaching its current value of $97 after peaking at $121 in late December 2023. The total value is locked in the Solana decentralized finance ecosystem on which Miro relies. — has steadily increased from $326 million in early October to a current value of $1.3 billion, a 322% increase.
Source: https://crypto.news/what-is-myro-and-why-is-it-up-450-in-2024/
