Pandora Price Prediction: PANDORA Plummets 19% As ERC-404 Mania Sees Ethereum Gas Fees At 8-Month High And Traders Turn To This New Solana Meme Coin For Explosive Gains

The Pandora worth plummeted greater than 19% over the previous 24 hours to commerce at $14,511.81 as of 9 am EST as traders proceed to exert promoting strain on the altcoin.

ERC-404 Hype Catapults Ethereum Fuel Charges

The PANDORA worth hunch comes after every week through which its worth has surged 371% after the launch of the primary ERC-404 experimental token normal helped push gas charges on the Ethereum community to an eight-month excessive, reaching a mean value of round 70 gwei on Feb. 9. Peak prices climbed to as excessive as 377 gwei, which is a degree not seen since Might 2023. 

This surge in gasoline costs could be attributed to rising pleasure surrounding the emergence of the experimental token normal, ERC-404. The ERC-404 frenzy began on Feb. 5, when Pandora spearheaded the experimental token normal with the launch of its platform. 

Pandora Worth Re-Enters Consolidation Zone

4-hour chart for PANDORA/USDC (Supply: TradingView)

The Pandora worth is buying and selling in a consolidation channel between $12,200 and $26,100, which it has been in over the previous couple of days. Within the final 24 hours, it dropped under the center degree of this vary. Consequently, it might be liable to testing the $12,200 assist degree within the subsequent 48 hours, ought to merchants proceed to dump the altcoin.

A break under this important worth level might put the Pandora worth liable to falling to the next assist degree at $5,560 within the following 48 hours. This bearish thesis could also be invalidated if the altcoin is ready to shut a 4-hour candle above the center degree of the present sideways channel inside the subsequent 24 hours.

On this various situation, the Pandora worth could try a problem on the $26,100 barrier once more. A sustained shut above this threshold might then give the crypto the muse wanted to proceed rising within the quick time period.

Technicals Level To A Potential Bullish Reversal For The Pandora Worth

Technical indicators on PANDORA’s 4-hour chart counsel patrons have recognized the crypto’s present ranges as a purchase alternative. Each the Transferring Common Convergence Divergence (MACD) and the Relative Power Index (RSI) are displaying early indicators of a possible bullish reversal of the altcoin’s unfavourable development.

The RSI line is trying to cross above its Easy Transferring Common (SMA) line. An intersection between these two traces could also be taken as an indication that patrons have gained the higher hand in opposition to sellers on PANDORA’s 4-hour chart. Along with this, the MACD line is rising in direction of the MACD Sign line, which might point out that the crypto’s unfavourable development has weakened in the previous couple of hours. 

Whereas the Pandora worth makes an attempt to fend off sellers, merchants are turning their consideration to Smog for probably explosive positive aspects.

The Latest Addition To The Solana Ecosystem

Smog made a dramatic entrance into the crypto area on the Solana decentralized change Jupiter with its token hovering to a market cap of $32.16 million.

One #Memecoin to rule all of them! 🚀

Prepare for the best #Airdrop in historical past, distributed on #Solana. 💰

Be a part of #SMOG on Zealy! 🔥

Hyperlink in Bio 🔗 pic.twitter.com/vsn4p5cSF4

— SMOG (@SMOGToken) February 8, 2024

With its speedy ascent, Smog shows an identical trajectory to different previous profitable Solana meme cash similar to Myro, Bonk and Honk. What separates the challenge from its predecessors is its turbo-charged airdrop marketing campaign, which can most certainly allow the challenge to realize virality inside the coming weeks.

An Airdrop Buyers Will Not Need To Miss

Smog encourages token possession by means of its Zealy marketing campaign. Contributors are in a position to earn factors by finishing interactive quests on platforms similar to X and Discord. This fosters neighborhood participation and rewards traders who’re loyal to the challenge.

So as to add to the joy, there may be additionally a leaderboard competitors, which goals to draw a considerable quantity of curiosity in addition to improve the general airdrop expertise.

Though the precise particulars concerning the airdrop occasion stay unknown, the challenge’s allocation of 35% of the token’s provide to the airdrop hints at a mammoth  airdrop occasion that traders is not going to wish to miss.

Study extra about Smog and purchase the token right here.

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