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 strain on the altcoin.

ERC-404 Hype Catapults Ethereum Gas Fees

The PANDORA worth droop comes after every week during which its worth has surged 371% after the launch of the primary ERC-404 experimental token customary 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 fuel costs might be attributed to rising pleasure surrounding the emergence of the experimental token customary, ERC-404. The ERC-404 frenzy began on Feb. 5, when Pandora spearheaded the experimental token customary with the launch of its platform. 

Pandora Price 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. As a consequence, it may very well 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 different state of affairs, the Pandora worth might 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 Price

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

The RSI line is trying to cross above its Easy Shifting Common (SMA) line. An intersection between these two strains could also be taken as an indication that patrons have gained the higher hand towards 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 unfavorable 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 doubtlessly explosive good points.

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 analogous trajectory to different previous profitable Solana meme cash resembling Myro, Bonk and Honk. What separates the undertaking from its predecessors is its turbo-charged airdrop marketing campaign, which is able to almost definitely allow the undertaking to realize virality inside the coming weeks.

An Airdrop Buyers Will Not Need To Miss

Smog encourages token possession by its Zealy marketing campaign. Individuals are capable of earn factors by finishing interactive quests on platforms resembling X and Discord. This fosters group participation and rewards buyers who’re loyal to the undertaking.

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 undertaking’s allocation of 35% of the token’s provide to the airdrop hints at a mammoth  airdrop occasion that buyers won’t need to miss.

Be taught extra about Smog and purchase the token right here.

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