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 buyers proceed to exert promoting stress on the altcoin.

ERC-404 Hype Catapults Ethereum Fuel Charges

The PANDORA worth stoop comes after per week through which its worth has surged 371% after the launch of the primary ERC-404 experimental token commonplace helped push gas charges on the Ethereum community to an eight-month excessive, reaching a median price of round 70 gwei on Feb. 9. Peak prices climbed to as excessive as 377 gwei, which is a stage not seen since Could 2023. 

This surge in fuel costs could be attributed to rising pleasure surrounding the emergence of the experimental token commonplace, ERC-404. The ERC-404 frenzy began on Feb. 5, when Pandora spearheaded the experimental token commonplace 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 stage of this vary. In consequence, it may very well be susceptible to testing the $12,200 assist stage 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 susceptible to falling to the next assist stage 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 stage of the present sideways channel throughout 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 inspiration wanted to proceed rising within the brief time period.

Technicals Level To A Potential Bullish Reversal For The Pandora Worth

Technical indicators on PANDORA’s 4-hour chart recommend consumers have recognized the crypto’s present ranges as a purchase alternative. Each the Shifting Common Convergence Divergence (MACD) and the Relative Energy Index (RSI) are exhibiting early indicators of a possible bullish reversal of the altcoin’s damaging development.

The RSI line is making an attempt to cross above its Easy Shifting Common (SMA) line. An intersection between these two strains could also be taken as an indication that consumers 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 damaging development has weakened in the previous few hours. 

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

The Latest Addition To The Solana Ecosystem

Smog made a dramatic entrance into the crypto house on the Solana decentralized alternate 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 part of #SMOG on Zealy! 🔥

Hyperlink in Bio 🔗 pic.twitter.com/vsn4p5cSF4

— SMOG (@SMOGToken) February 8, 2024

With its fast ascent, Smog shows an identical trajectory to different previous profitable Solana meme cash reminiscent of Myro, Bonk and Honk. What separates the mission from its predecessors is its turbo-charged airdrop marketing campaign, which can more than likely allow the mission to attain virality throughout the coming weeks.

An Airdrop Traders Will Not Need To Miss

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

So as to add to the thrill, 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 relating to the airdrop occasion stay unknown, the mission’s allocation of 35% of the token’s provide to the airdrop hints at a mammoth  airdrop occasion that buyers won’t wish to miss.

Study extra about Smog and purchase the token right here.

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