- The meteoric rise of Book of Meme (BOME) in the cryptocurrency market, attributing its success to several key factors.
- These include a successful pre-sale that surpassed community expectations, strategic listings on prominent exchanges like KuCoin, Gate.io, and Crypto.com, and the creation of liquidity through multiple trading pairs.
Meme coin craze Over the previous day, Book of Meme (BOME) saw a 345% growth in value, rising to $0.02703.
The coin now ranks ninth on the list of cryptocurrencies that are exchanged the most on the market today, with its trading volume having increased by 262% to $3.8 billion.
BOME has seen a spectacular climb since its market debut on March 14. In just 48 hours, it has jumped more than 39,000% from its all-time low of $0.00005848.
BOME’s market valuation has risen to an incredible $1.25 billion as a result of this boom, propelling it into the eighth largest meme coin and the top 100 largest currencies by market cap.
There are presently 55,199,727,655 coins in circulation out of a maximum of 68,999,659,569.
Market observers attribute BOME’s success to a number of factors, including its pre-sale, which raised 10,131 Solana (SOL) and significantly above community expectations, as well as its listings on prominent exchanges including KuCoin, Gate.io, and Crypto.com.
For the meme coin, the cryptocurrency exchange is providing four spot trading pairs: BOME/BTC, BOME/USDT, BOME/FDUSD, and BOME/TRY.
While some cryptocurrency traders are happy with the meme coin’s performance in the market, others are regretting lost prospects for even bigger profits.
One such investor sold his BOME tokens a day before their sharp price increase, as reported by crypto.news. This would have made their $8,000 investment about $1 million.
Influencer Moataz Elsayed, meantime, emphasizes the unpredictable but potentially profitable nature of meme currency trades by claiming to have witnessed other traders earn enormous gains.
Darkfarms, an anonymous art producer, is the force behind BOME’s unexpected popularity. According to Darkfarms, they started the project with no idea how much support it would receive.
The project’s designers state that improving liquidity and maintaining BOME’s standing as a stalwart in the meme coin market will be the next steps in their plan.
BOOK OF MEME markets itself as an experimental project combining memes, decentralized storage, gambling, and degen shitcoin trade to reinvent web3 culture. The goal of this experiment is to preserve every meme on the blockchain by compiling the dynamic meme culture into a digital book called the BOOK OF MEME.
It uses the $BOME memecoin on Solana and Arweave, IPFS as the main store of Book of Meme, and future extensions to Bitcoin inscriptions as unchangeable eternal storage.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
