Why are DOGE and BOME prices rising?
In addition to BOME, DOGE, the world's largest meme currency, also experienced a price surge of more than 5%. However, the surge in BOME and DOGE prices is attributed to the recent break above the major resistance levels observed on the 4-hour time frame on the charts.
Meanwhile, Shiba Inu (SHIB) and the recently launched Rooster (COQ) also saw significant growth, at 3.5% and 10% respectively.
Along with the performance of these meme coins, the overall market capitalization of the cryptocurrency meme industry has grown by nearly 4% and now stands at nearly $55.8 billion. BOME’s performance has been impressive, currently trading near $0.015, with the price surging by more than 35% in the past 24 hours alone.
Looking at BOME’s performance over a longer period of time, its price has surged by more than 180% in the past 7 days, and by nearly 1,650% in the past 30 days.
BOME Technical Analysis and Key Levels
According to expert technical analysis, the surge in BOME price is attributed to the recent breakout of the consolidation zone observed on the 4-hour time frame. However, after a sharp rise, BOME is now facing resistance near the $0.16 level.
If BOME is able to break out and close above the $0.016 level in 4 hours, BOME is expected to reach the $0.022 level.
DOGE, on the other hand, is currently trading near $0.16 with a price surge of over 5%. Looking at DOGE's performance over a longer period, its price has declined by 1.5% over the past seven days. However, DOGE price has seen a 90% upward momentum over the past 30 days.
Despite this, the meme coin’s trading volume fell by 13% and now stands at nearly $10.6 billion. The sharp drop in trading volume highlights the qun + Wei: JQCZ0192 waning interest among investors and traders in the meme coin.
According to CoinMarketCap, top meme tokens including PEPE, WIF, FLOKI, and BONK experienced a decline in value on March 22, 2024, despite varying overall market structure and trading volumes. In the past 24 hours, PEPE, WIF, FLOKI, and BONK have seen price drops of more than 3.5%, 3.2%, 5%, and 2% respectively.
