1. Short Squeezes
The currency recently experienced a massive short position liquidation, with an estimated $40 million in short positions closed due to the sudden price increase, increasing buying pressure and rapidly driving the price upwards.
2. Thin Circulating Supply
More than 80% of the MYX supply is locked and cannot be traded, creating a strong inflationary effect when a sudden buying pressure occurs. This lack of liquidity enhances the rapid price surge.
3. Organized movements and suspicious events (Manipulation & Pump-and-Dump)
Several analyses indicate that the rise may have been pre-organized, as it seems that 'whales' or large investors are facilitating coordinated purchases across platforms like PancakeSwap, Bitget, and Binance.
4. Discussions and expectations about future developments.
The discussion about the upcoming MYX V2 upgrade, which promises zero-slippage and cross-chain support, has generated optimism among traders and investors, increasing speculative accumulation.
Technical indicators show an overbought condition.
The Relative Strength Index (RSI) has reached levels exceeding 80.
