Solana-based meme coin MYRO could become the next coin to reach a $1 billion market cap, according to cryptocurrency analyst CobraVanguard, who previously predicted that the meme coin’s price could rise 200% from current levels.

Why MYRO can enjoy 200% discount to $0.2

In an article on TradingView, CobraVanguard mentioned that the meme token has formed a falling wedge on the daily chart. He claimed that if MYRO breaks through the current resistance level, a significant rise could occur. The analyst added that he expects the price to rise to the Fibonacci line 0.618, which is $0.2.

A rise to $0.2 would mean that the Solana meme coin could have a market cap of more than $200 million. According to CobraVanguard, MYRO could rise further, with a market cap expected to reach $1 billion. Cryptocurrency analyst SwallowPremium also gave a bullish outlook for the mem coin, saying that a break above the $0.2 level would lead to further gains.

It is worth mentioning that MYRO’s current all-time high (ATH) is $0.4, a price level reached in early March this year. Therefore, if the Solana meme token reaches $0.2, its price is likely to rise to the current high. Reaching the current high will put its market value over $400 million, further strengthening the community’s belief that the token’s market value could reach $1 billion.

Price breakout is about to happen

Cryptocurrency analyst Yzzz also stated in the X post that a MYRO price breakout will happen soon. The analyst noted that if Bitcoin goes up, then the meme coin will definitely “rise sharply.” He added that the chart has been ready for a while because it has bottomed and time-based capitulation has already occurred.

Meanwhile, Yzzz also noted that MYRO is now available on Binance and Bybit for perpetual contract trading. He noted that this is the coin with the lowest market cap among Solana memecoins, but has achieved this feat. Therefore, he expects the price of the coin to be higher since it has already received so much attention on the largest centralized exchange (CEX).

Interestingly, the cryptocurrency analyst made the bold claim that MYRO will soon surpass the leading Solana meme coin Dogwifhat (WIF). He revealed that the two meme coins have been trading closely for a while. However, he expects this to change soon and MYRO to come out on top. In line with this, he advised market players to place their bets and believe in something.

At the time of writing, MYRO is trading at around $0.08, having gained more than 15% in the past 24 hours, according to data from CoinMarketCap.