Solana

Lunar New Year

Pyth Network

<div class="insidebitcoins">
 <p>The Pyth Network price soared 14% in the last 24 hours to trade for $0.6647 as of 4:20 a.m. EST time on trading volume that surged 35%.</p>
 <p>The Solana Ecosystem’s PYTH is a hot topic on X currently, coming on the back of a community vote on-chain to approve the Pyth DAO Constitution. The constitution is vital, describing the decision-making framework for the Pyth DAO and the governing framework for the holders of PYTH.</p>
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
  <p lang="en" dir="ltr">Today, the Pyth Network community has voted on-chain to approve the Pyth DAO Constitution.</p>
  <p>This Constitution describes the decision-making framework for the Pyth DAO and the governing framework for the holders of $PYTH.</p>
  <p>Learn more below:<br>What is the Pyth DAO Constitution?</p>
  <p>The… pic.twitter.com/aTQ1JW7xT2</p>
  <p>— Pyth Network 🔮 (@PythNetwork) February 13, 2024</p>
 </blockquote>
 <p></p>
 <p>Typical of the buy the rumor sell the news situation, the Pyth Network price has skyrocketed. But that suggests it may correct soon in the aftermath of the news narrative.</p>
 <h2 id="pyth-network-price-outlook-from-a-technical-standpoint">Pyth Network Price Outlook From A Technical Standpoint</h2>
 <p>Technical indicators support this thesis, seeing as the Relative Strength Index (RSI) position at 82 shows that PYTH is massively overbought. In addition, the reading of the Spent Output Profit Ratio (SOPR) suggests a possible pullback considering it has increased above 1 as a 30-day moving average (MA). This ratio shows that PYTH holders who are currently in profit could soon book profits for their gains.</p>
 <p>Beyond these, the fact that the Pyth Network price has broken above the upper band of the Bollinger indicator at $0.6381 suggests PYTH is overbought. This reinforces the overbought and imminent pullback argument that the RSI is hinting at.</p>
 <p>With this, the Pyth Network price could likely record a pullback. Key levels in such a downward directional bias include the 78.6%, and the 61.8% Fibonacci levels at $0.5458 and $0.4413 levels respectively. A break and close below the latter would invalidate the prevailing bullish outlook.</p>
 <p>If the aforementioned levels fail to hold as support, the Pyth Network could roll over to the 50% Fibonacci level at $0.3680. In a dire case, the Solana-based token could extend a leg down to the 38.2% Fibonacci at $0.2946, or worse, the 23.6% retracement level at $0.2038.</p>
 <p><img decoding="async" class="aligncenter wp-image-480540 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201273%20542'%3E%3C/svg%3E" alt="PYTH" width="1273" height="542" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 1273w, https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 300w, https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 1024w, https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 768w" data-lazy-sizes="(max-width: 1273px) 100vw, 1273px" data-lazy-src="https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp">
  <noscript><img decoding="async" class="aligncenter wp-image-480540 size-full" src="https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp" alt="PYTH" width="1273" height="542" srcset="https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 1273w, https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 300w, https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 1024w, https://cdn.thebittimes.com/images/2024/02/14/20607875ac9f61925f459875b43a2adf.webp 768w" sizes="(max-width: 1273px) 100vw, 1273px">
  </noscript></p>
 <p>TradingView: PYTH/USDT 1-day chart</p>
 <h4><strong>Converse Case</strong></h4>
 <p>On the other hand, considering the RSI remains northbound despite PYTH being massively overbought, the Pyth Network price could still extend the climb. PYTH holders who currently have open positions should keep them open until such a time when the altcoin is ripe for selling.</p>
 <p>Enhanced buyer momentum could see the Pyth Network price clear the range high at $0.6776, with the potential to create a new local top above it.</p>
 <p>However, those looking to take new positions should also consider waiting. The first signal for a good entry will be the SOPR rate falling below 1.</p>
 <p>While the Solana ecosystem’s PYTH risks a correction, many investors have shifted their attention to Smog, the latest Solana meme coin sensation. Smog’s promised insane airdrop is the current mania, with analysts anticipating 100X growth potential for the token at launch.</p>
 <p></p>
 <div class="rll-youtube-player" data-src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/e0tjWYug1Xs" data-id="e0tjWYug1Xs" data-query="feature=oembed" data-alt="NEW 100X Potential SOLANA MEME COIN $SMOG Crypto Live - Best 100X MEME COIN To Buy Now?!"></div>
 <noscript><iframe title="NEW 100X Potential SOLANA MEME COIN $SMOG Crypto Live - Best 100X MEME COIN To Buy Now?!" width="640" height="360" src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/e0tjWYug1Xs?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
 </noscript>
 <p></p>
 <p>The hope is that like BONK, MYRO, HONK, and WIF, Smog too would display massive success as the project promises to unleash a gargantuan airdrop.</p>
 <h2 id="promising-alternative-to-pyth">Promising Alternative To PYTH</h2>
 <p>Amid hype around the Chinese Lunar New Year of the Dragon, SMOG token is rapidly gaining traction with analysts lauding it as the next big thing among meme coins on the Solana blockchain. SMOG is also poised to gain from the celebrations among Chinese communities because of its lucky dragon theme.</p>
 <p><img decoding="async" class="alignnone wp-image-480542 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20805%20538'%3E%3C/svg%3E" alt="PYTH" width="805" height="538" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp 805w, https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp 300w, https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp 768w" data-lazy-sizes="(max-width: 805px) 100vw, 805px" data-lazy-src="https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp">
  <noscript><img decoding="async" class="alignnone wp-image-480542 size-full" src="https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp" alt="PYTH" width="805" height="538" srcset="https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp 805w, https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp 300w, https://cdn.thebittimes.com/images/2024/02/14/3f9c502fb934b7fda579592a011109da.webp 768w" sizes="(max-width: 805px) 100vw, 805px">
  </noscript></p>
 <p>The project comes on the back of Jupiter’s $700 million airdrop on Solana that minted many millionaires. Smog is now offering an even larger and more enticing opportunity, what it calls ”the greatest airdrop in history, distributed on Solana.”</p>
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
  <p lang="en" dir="ltr">One #Memecoin to rule them all! 🚀</p>
  <p>Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰</p>
  <p>Join #SMOG on Zealy! 🔥</p>
  <p>Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4</p>
  <p>— SMOG (@SMOGToken) February 8, 2024</p>
 </blockquote>
 <p></p>
 <p>With a 1.4 billion token supply, the Smog team has allocated 35% for the upcoming airdrop. Interested investors only have to buy and hold $SMOG&nbsp;to qualify for the airdrop. With such an enticing incentive, many investors are flocking into the project, translating to enhanced token popularity.</p>
 <p><img decoding="async" class="alignnone wp-image-480543 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20478%20532'%3E%3C/svg%3E" alt="PYTH" width="478" height="532" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/02/14/391c3023629c8f5965757959093bc804.webp 478w, https://cdn.thebittimes.com/images/2024/02/14/391c3023629c8f5965757959093bc804.webp 270w" data-lazy-sizes="(max-width: 478px) 100vw, 478px" data-lazy-src="https://cdn.thebittimes.com/images/2024/02/14/391c3023629c8f5965757959093bc804.webp">
  <noscript><img decoding="async" class="alignnone wp-image-480543 size-full" src="https://cdn.thebittimes.com/images/2024/02/14/391c3023629c8f5965757959093bc804.webp" alt="PYTH" width="478" height="532" srcset="https://cdn.thebittimes.com/images/2024/02/14/391c3023629c8f5965757959093bc804.webp 478w, https://cdn.thebittimes.com/images/2024/02/14/391c3023629c8f5965757959093bc804.webp 270w" sizes="(max-width: 478px) 100vw, 478px">
  </noscript></p>
 <p>The SMOG team has also launched a staking feature on the Ethereum network, offering a&nbsp;10% discount on all SMOG tokens that you stake.</p>
 <p><img decoding="async" class="alignnone wp-image-480545 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20492%20429'%3E%3C/svg%3E" alt="PYTH Stake" width="492" height="429" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/02/14/c59535faa38ed83f368240d21ddad0e8.webp 492w, https://cdn.thebittimes.com/images/2024/02/14/c59535faa38ed83f368240d21ddad0e8.webp 300w" data-lazy-sizes="(max-width: 492px) 100vw, 492px" data-lazy-src="https://cdn.thebittimes.com/images/2024/02/14/c59535faa38ed83f368240d21ddad0e8.webp">
  <noscript><img decoding="async" class="alignnone wp-image-480545 size-full" src="https://cdn.thebittimes.com/images/2024/02/14/c59535faa38ed83f368240d21ddad0e8.webp" alt="PYTH Stake" width="492" height="429" srcset="https://cdn.thebittimes.com/images/2024/02/14/c59535faa38ed83f368240d21ddad0e8.webp 492w, https://cdn.thebittimes.com/images/2024/02/14/c59535faa38ed83f368240d21ddad0e8.webp 300w" sizes="(max-width: 492px) 100vw, 492px">
  </noscript></p>
 <p>Meanwhile, Danjo Capital Master, a renowned crypto YouTuber, says that SMOG is a meme coin with the potential for a 100X return on investment.</p>
 <p></p>
 <div class="rll-youtube-player" data-src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/28F8B5lkjVc" data-id="28F8B5lkjVc" data-query="feature=oembed" data-alt="SMOG TOKEN SOLANA TIME TO BUY NOW X100 POTENTIAL"></div>
 <noscript><iframe title="SMOG TOKEN SOLANA TIME TO BUY NOW X100 POTENTIAL" width="640" height="360" src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/28F8B5lkjVc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
 </noscript>
 <p></p>
 <p>Visit and buy the Smog token on the&nbsp;official website to be eligible for the upcoming historic airdrop.</p>
 <h3 id="also-read">Also Read:</h3>
 <ul>
  <li>New Solana Airdrop-Focused Meme Coin Launched on Jupiter DEX – Could This Be the Next 1000x Coin?</li>
  <li>Crypto ZEUS Reviews Latest Meme Coin, SMOG, Launching the Greatest Solana Airdrop of All Time</li>
  <li>Latest Solana Meme Coin Smog Token Unveils ETH Bridge After Massive $37M Market Cap Debut – Investor Sentiment Boosted By Airdrop Campaign</li>
 </ul>
 <p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/pyth-network-price-prediction-pyth-surges-14-but-investors-turn-to-this-new-solana-meme-coin-for-its-insane-airdrop-tbt79805.html">https://thebittimes.com/pyth-network-price-prediction-pyth-surges-14-but-investors-turn-to-this-new-solana-meme-coin-for-its-insane-airdrop-tbt79805.html</a></p>
</div>

Pyth Network Price Prediction: PYTH Surges 14%, But Investors Turn To This New Solana Meme Coin For Its Insane Airdrop

목차

TheBitTimes

2024년 2월 14일에 게재된 다른 기사

Crypto-Friendly Candidate Claims Victory in Indonesia’s VP Race

Gorilla Price Prediction: GORILLA Soars 67% In Two Weeks, But Experts Say Consider Sponge V2 For ...

The Best Altcoins to Invest in February: Scorpion Casino, Jupiter (JUP), and Pyth Network (PYTH)

Helldivers 2 Receives Significant Patch for Enhanced Stability and Connectivity

Jupiter Price Prediction: JUP Plunges Another 3% After 69% Crash Since Launch As This New Solana ...

$BONK Rebounds in Parabolic Move as Market Recovers; $GFOX Ready for Launch!

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!