BOME - A somewhat awkward star meme coin on Binance
Bome wash trading situation: After being listed on Binance, it has been washed for more than half a year, and it only dropped by half, not much has been washed at all. Just look at how Slerf Rats Sats was washed, it dropped directly by 10 times, and Ordi also dropped by 4 times. A coin that doesn't drop much is friendly to retail investors, but not friendly to big players.
The question arises, why doesn't this coin drop?
In my opinion, after being listed on Binance, the market cap at the bottom was 380 million USD. This indicates that once listed on Binance and with high popularity as a meme, it is very difficult for the market cap to fall below 300 million USD. Now let's look at Act, which currently has a market cap of around 400 million USD, what does this indicate? The space for decline is not large.
So, is there accumulation by big players at the bottom of Bome?
I feel there is accumulation, but the volume is not large, only about 5 times the previous volume. Generally, the volume for bottom accumulation is more than 10 times the previous volume. Because it hasn't dropped much, retail investors don't need to cut losses, so they can't pick up the goods.
So why is Bome currently neither going up nor down?
The wash trading is insufficient, unable to go up or down. Coins listed on Binance will not fall randomly. If it drops too much, someone will grab the chips, and it won't be the big players who get to buy them. This doesn't mean that Bome won't rise; when the market conditions are right, it will rise. Additionally, Bome's situation is still a bit heavy.
Now look at Dogs, this kind of garbage VC coin, actually not many people are optimistic about it, the subsequent situation is lighter, I estimate it will perform much better once it rises. Dogs clearly have big players and project teams. The market cap of Dogs dropped to a minimum of 260 million, which looks pretty good, after all, it is listed on the spot market. Overall, I would rate Dogs higher than Bome.
From the analysis of the chip structure, I believe BOME is not an exceptionally outstanding coin, but that doesn't mean it won't rise in the future. When large funds come in, it will rise significantly. The inscriptions have been washed thoroughly, yet it still hasn't risen. We are still waiting for the favorable wind to come.
