Book of Meme Eyes 22% Gain After Market Correction 📈
The Book of Meme ($BOME ) price recently dipped 18% from its highs but found solid support at the 38.2% Fibonacci level. With Bitcoin holding steady, BOME is poised for a rebound, potentially reaching $0.0186.
#### Key Highlights
- **Market Cap**: Top meme tokens have a combined market cap of $62.1 billion, up 0.9% intraday (CoinMarketCap).
- **Support Levels**: An ascending trendline provides BOME with solid support during market dips.
- **Trading Volume**: BOME's 24-hour trading volume soared to $433 million, a 33% increase.
Despite recent downturns, Bitcoin's stability above $69,000 has kept the broader market positive. BOME experienced a healthy retracement and rebounded from the 38.2% Fibonacci level, now trading at $0.013.
#### Current Situation
BOME's price fell 20% from a recent high of $0.016 to a low of $0.0127. However, with Bitcoin's strength, major altcoins avoided significant corrections. The 38.2% Fibonacci level has offered strong buyer support, shown by the long-tail rejection candles.
The ascending support trendline since April's second week suggests buyers are accumulating BOME at market dips, setting the stage for a recovery. This could propel BOME to retest its $0.016 high and potentially reach $0.0186, followed by $0.0248.
#### Technical Indicators
- **Relative Strength Index (RSI)**: The daily RSI above 50% indicates neutral to bullish sentiment.
- **Pivot Levels**: Key support levels are at $0.0125, followed by $0.09.
If the rising trendline support breaks, BOME could enter a prolonged correction. But for now, the outlook remains optimistic with potential gains on the horizon. 🚀
