MYX (MYX Finance) rose 20.01% in 24 hours

Gate News Bot news, on November 19, according to CoinMarketCap data, as of the time of publication, MYX (MYX Finance) is currently priced at $3.04, with a 20.01% rise in the last 24 hours, reaching a high of $3.47 and a low of $2.07. The 24-hour volume reached $39.2 million. The current market capitalization is approximately $673 million, an increase of $112 million compared to yesterday.

Important news about MYX recently:

1️⃣ Short selling liquidation triggers price surge On September 9th, MYX Finance experienced a severe short squeeze, resulting in over $40 million in positions being liquidated. This event sparked strong market attention towards MYX, driving its price to rise significantly in the short term.

2️⃣ Decoupled from Bitcoin price trends Recently, the price trend of MYX Finance has begun to decouple from Bitcoin, showing an independent trend. This separation may reflect a reassessment of the intrinsic value of the MYX project by investors, while also increasing its appeal as a diversification tool in investment portfolios.

3️⃣ Concerns about market manipulation arise As the price of MYX skyrocketed by 270% within 24 hours, the market began to question the potential manipulation behind this unusual rise. This rapid and drastic price fluctuation has raised investors' concerns about the project's sustainability, which may affect market sentiment in the short term.

From a technical perspective, the price of MYX has broken through multiple resistance levels, indicating strong upward momentum. However, such a rapid rise also increases the risk of a pullback. Investors should closely monitor changes in volume and potential profit-taking pressure.

This message is not an investment suggestion, and investors should be aware of market volatility risks.