BOME has risen in price by more than 5% in the last 24 hours.
Technical indicators looked bearish for memecoin.
Last week's market crash caused bearish sentiment in the market as most #cryptocurrencies were pulled out of the market. While some panicked, "whales" took the opportunity to accumulate funds: the book MEME [BOME] is one of the #Solana [SOL] based cryptocurrencies that "whales" decided to buy.
The cryptocurrency market has fallen on hard times in recent days: the market capitalization of most coins, including BOME, has fallen significantly: according to CoinMarketCap, the value of memcoin fell by more than 37% last week.
Interestingly, after the market collapse, Solan whales took the opportunity to buy memcoin: according to a recent tweet from Lookonchain, one whale withdrew 15,751 SOLs worth $2.25 million from #Binance .
He then used 4,623 #SOL (worth USD 661K) to buy 67.53 million BOME at a price of USD 0.0098.
As the market turned bullish, the demand for whales gave BOME the momentum needed to start a recovery.
Over the past 24 hours, BOME's chart has turned green and its value has risen by more than 5%. At the time of writing, it was trading at $0.00894 and has a market capitalization of over $493 million.
Surprisingly, the recent price increase has not had a positive impact on market sentiment: analysis of Santiment data from AMBCrypto shows that the weighted attitude towards memcoin remains low.
This means that bearish sentiment around the token prevails in the market. Notably, social volume has also declined after peaking on April 12, indicating a decline in popularity.
Will BOME show a full recovery?
As BOME's daily chart turned green, AMBCrypto checked Hyblock Capital's data to see if the memcoin can fully recover its losses in this new week.
According to our analysis, memcoin will face a high liquidation around $ 0.010.
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