Come look! Myro, Solana's pup is fetching you big bucks

2024 is shaping up to be a banner year for meme coins, particularly for our canine friends. Fueled by Elon Musk's social media influence, dog-themed meme coins like MYRO are experiencing a surge in popularity. MYTO was also hailed by many analysts and experts to be the next 100X meme coin. So what is the story behind the rise of this meme coin, and is this something you can invest in?

Tiny dog with lofty ambitions

Launched in December 2023 on the Solana blockchain, MYRO was inspired by the pet dog of Solana's co-founder, Raj Gokal. MYRO's mighty ambition is to redefine the narrative of meme coins on the Solana blockchain. Initially, the project saw modest traction within the Solana community, with only a small group of Solana fans exchanging coins. But in the last few months, this coin has witnessed a significant upswing for several reasons.

Price of MYRO jumped by 43% after Binance listing

In January of 2024, news spread of a failed agreement between MYRO and Binance, resulting in a rapid dump of the coin and a rapid crash in the price of the MYRO coin. But after Robinhood decided to list PEPE and Dog Wif Hat, it created a new wave of hype for meme coins such as Doge, shiba, boink etc. This wave of hype also changed Binance's mind and they decided to list MYRO on their platform. Less than two hours after this news was released, the price of the asset soared to approximately $0.30, marking an all-time high for the meme coin that was launched late last year. As of March, it was recorded that MYRO was trading at $0.27, a 43% increase in the past 24 hours and a whopping 255% surge in the last seven days.

Jumping on the Solana bandwagon

Unlike all the other meme coins, the MYRO coin's close association with Solana has allowed the coin to amass for itself a lot of new holders following the recent rise of Solana. The MYRO coin seemed to have leeched off the success of Solana's recent rise in popularity and ascension to the king of the crypto landscape, which could also explain resurgence in hype around the MYRO coin.

High hopes for MYRO

So it seems like the buzz around Solana is going to stay for quite a while, and MYRO is going to continue milking its popularity as long as it goes. As a result, I would predict that the price of MYRO will continue to grow moving forward. Many analysts and experts from DigitalCoinPrice and Coin Edition have predicted a long-term bullish trajectory for Myro, with potential highs of $2.46 by 2030 and $6.87 by 2033.

Investing in Myro is a calculated move

It seems that Myro seems to have all the right conditions to be the next big hit, but I would still advise you to be cautious when you are thinking of investing in this coin. Just like any other meme coins, this coin is still not immune to volatility of the market and you could easily get burned if you are not careful. Why not consider MYRO for a small, strategic investment if you believe the hype surrounding canine-themed meme coins have staying power. However, thorough research remains crucial before making any investment decisions.