Overview
MYRO is a Solana-based dog memecoin named after Myro, the dog of Solana co-founder Raj Gokal. Launched in late 2023, the token attempted to become the unofficial dog memecoin of the Solana ecosystem by leveraging this personal connection to Solana leadership. While Raj Gokal acknowledged the token's existence, he never officially endorsed it, leaving MYRO in an awkward liminal space between insider-adjacent and community-driven.
The token gained traction during the early Solana memecoin wave but has since lost significant market share to newer competitors. MYRO is a textbook example of a celebrity-adjacent memecoin that couldn't sustain momentum without genuine backing.
Community
Score: 4/10
MYRO's community was initially energized by the Solana co-founder connection, which provided perceived legitimacy. The narrative attracted Solana ecosystem participants who wanted a "founder's dog" memecoin. However, without active endorsement from Raj Gokal and with no utility development, community enthusiasm faded. Active members have declined significantly, and social media engagement is sporadic. The community has been outcompeted by newer Solana memecoins with fresher narratives.
Liquidity
Score: 3/10
MYRO had reasonable liquidity during the Solana memecoin boom but has seen substantial declines. The token is listed on a few mid-tier CEXs and remains tradable on Solana DEXs. However, trading volumes are low, and DEX pool depths have shrunk. Large trades face meaningful slippage. The token's market cap has declined significantly from its peak, reducing its attractiveness for market makers and liquidity providers.
On-Chain Metrics
Score: 3/10
On-chain data shows a declining project. Active addresses have dropped steadily over recent months. Holder count growth has stagnated. There are no DeFi integrations or staking mechanisms generating on-chain activity. Transfer volumes are dominated by small trades and occasional whale movements. The token's on-chain profile is that of a fading memecoin with minimal organic activity.
Development
Score: 1/10
MYRO has no development activity whatsoever. There is no smart contract innovation, no roadmap, no governance system, and no technical team. The token is a bare SPL token with no additional functionality. No GitHub repository exists with meaningful code. The project website is a simple landing page. This is a pure memecoin with zero engineering effort beyond the initial token deployment.
Risk Factors
- No founder endorsement: Raj Gokal has not officially backed the token, undermining its core narrative
- Zero development: Absolutely no technical work or roadmap
- Declining liquidity: Thin order books and shrinking DEX pools
- Narrative exhaustion: The "founder's dog" story has played out
- Competition: Dozens of dog memecoins compete on Solana alone
- Price decline: Significant drawdown from ATH with no recovery catalyst
- No utility: Token serves no purpose beyond speculation
- Low community engagement: Declining active users across all platforms
Conclusion
MYRO bet everything on a single narrative — being the dog memecoin of a Solana co-founder. Without genuine endorsement from Raj Gokal, that narrative was always on shaky ground. The token has failed to develop any utility, community programs, or technical innovation that could sustain interest. In the fast-moving Solana memecoin landscape, MYRO has been left behind by projects with stronger narratives and more active communities. This is a high-risk investment with deteriorating fundamentals and no clear path to recovery.
Sources
- Solscan on-chain analytics
- CoinGecko market data
- MYRO community Telegram and Twitter
- Solana memecoin ecosystem reports
- DEX trading data from Jupiter and Raydium