NEW DELHI (CoinChapter.com) — Myro (MYRO) has emerged as a notable player in the world of canine-themed memecoins. The MYRO token price rally helped the Solana-based token chart consecutive new all-time highs, with more bullish cues coming its way.
MYRO, named after the dog of Solana co-founder Raj Gokal, has attracted increased interest from traders. As a result, MYRO price spiked nearly 1,090% in Jan. 2024 to reach a new all-time high near $0.262 on Jan. 19.
Despite the monster rally, MYRO price seems to be in no hurry to halt its rally. Meme-based cryptos usually rely on social media hype for bullish cues, and given the Solana memecoin’s recent rally, buyers are likely to enter the market in droves.
Myro Price Rally To Continue On Back Of Listings
The meme token’s market crossed $200 million on the back of its recent bull run. Moreover, there is considerable anticipation about MYRO’s upcoming staking program and the introduction of new utilities like burning, NFTs, etc.
The prospect of new developments would likely continue driving investor interest, helping the MYRO price rally.
Additionally, crypto exchange Bybit announced listing MYRO on its spot trading platform. MYRO deposits open on Jan. 18 at 8 AM (UTC), while trading starts on Jan. 19, and withdrawals begin on Jan. 20, both at 10 AM (UTC).
Bybit stated that transactions for the memecoin would take place on the Solana network, which could, in turn, benefit SOL price. Additionally, market participants can trade MYRO using the Spot Grid Bots.
Furthermore, Bybit announced a special event featuring an 800,000 MYRO prize pool. New users can win part of a 700,000 MYRO giveaway by signing up, completing identity verification, and meeting deposit conditions.
News of the listing resulted in traders speculating about a possible listing in tier-1 exchanges like Binance and Coinbase. Several traders shared posts with “Wen Binance? [sic]” messages. While there’s no news of any possible future listings, the hype will likely favor the meme token’s price rally in the coming days.
Additionally, as a part of the growing number of Solana-based memecoins, MYRO has benefitted from the overall success of the parent blockchain. For instance, the Solana team has announced that the memecoin would come integrated with the next iteration of the Solana mobile
What Is MYRO
MYRO is a memecoin based on the Solana (SOL) blockchain. The Myro token recently flipped the Binance Smart Chain (BSC) based memecoin Baby Doge Coin in market cap, currently sitting at 229 in the list of CoinMarketCap’s top 250 cryptocurrencies.
MYRO launched in Nov. 2023 on the Solana mainnet. Since its launch, the memecoin has gained significant traction in the cryptocurrency market, becoming the third-largest Solana-based memecoin.
Per data from CMC, the Myro token has a maximum supply of 1 billion tokens, of 944.2 million tokens are currently in circulation.
