Predicting PYTH Network's Price Surge and New Solana Meme Coin with Insane Airdrop Attract Investors

Pyth Network Price Surges 14%

The price of the Pyth Network has spiked 14% over the last 24 hours, standing at a value of $0.6647 as of 4:20 a.m. EST time, with trading volume surging 35%.

Pyth DAO Constitution Approved

The Pyth Network has seen a surge in discussions concerning the PYTH on X as the result of an on-chain vote to approve the Pyth DAO Constitution. The constitution describes the framework for decision-making by the Pyth DAO and governs the holders of PYTH.

Pyth Network Price (PYTH) From A Technical Perspective

The technical indicators support the viewpoint that the Pyth Network is overbought. The Relative Strength Index (RSI) is positioned at 82, signifying that PYTH is greatly overbought. Additionally, the reading of the Spent Output Profit Ratio (SOPR) suggests a pullback, as it has increased above 1 as a 30-day moving average (MA).

Pyth Network Price Technical Analysis

The Pyth Network price has breached the upper band of the Bollinger indicator at $0.6381, confirming that PYTH is overbought. This reinforces the overbought signal from the RSI and hints at an imminent pullback.

Alternative To PYTH

Amid the discussion of PYTH, many investors are turning their attention to Smog, the newest sensation in Solana meme coins. With an upcoming massive airdrop event, analysts are foreseeing a 100X growth potential for the token at launch.

Smog Token Gains Traction

The SMOG token is gaining traction among investors, who see it as the next big thing among meme coins on the Solana blockchain. The project is gaining popularity and potentially attracting many investors.