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1 Book of Meme Crypto was 53% below its all-time high reached two months earlier.
2 The volume to market capitalization ratio is 45.7%, indicating an increased level of volatility in cryptocurrency market activity.
BOOK OF MEME is an innovative venture aimed at transforming Web3 culture through the integration of memes, decentralized storage, and speculative cryptocurrency trading and betting. This initiative aims to capture the dynamic essence of meme culture in the digital anthology “BOOK OF MEMES” by permanently storing each entry on the blockchain.
Moreover, the BOME cryptocurrency has been bullish in recent sessions, recovering from previous declines. It is on track to reach its all-time high again. The price fluctuated within a noticeable channel, which led to rapid intraday growth.
Crypto Meme Volume Analysis Book
BOOK OF MEME's price fluctuated around $0.012833 during the day with 24-hour volume of $581.12 million. Additionally, its market capitalization is $885.06 million and has a market share of 0.03%. Volume analysis shows that daily volume is down about 6% from the previous day. The volume to market capitalization ratio was 45.77, indicating a relatively stable market with high volatility.
BOOK OF MEME's peak trading value occurred on March 16, 2024, reaching an all-time high of $0.026886. The lowest price recorded was on March 14, 2024 at $0.00005880. Since hitting its all-time high, the lowest price was $0.007192 (cycle low) and the highest price since that low was $0.014084 (cycle high).
Can BOME Crypto Recapture All-Time High?
From a technical perspective, the BOME cryptocurrency has consistently traded above the critical 20-day and 50-day exponential moving averages, indicating a positive trend. Additionally, the daily chart displays an ascending channel suggesting that if the price breaks the upper boundary, it could potentially reach its all-time high of $0.00719.
At the time of writing, the relative strength index (RSI) is above 58.4 and the simple moving average (SMA) is at 56.19. The occurrence of a bullish crossover between these lines further enhances the bullish outlook for the future performance of the cryptocurrency.
Conclusion
BOOK OF MEME (BOME) is an innovative project that combines memes with decentralized storage and crypto trading. The short-term trend forecast is positive: bulls strive to surpass the historical high. The price is currently hovering around $0.012833 with a market capitalization of $885.06 million. Despite a 6% decline in daily volume, the market remains volatile.
Moreover, the BOME price reached a high of $0.026886 on March 16, 2024, and the lowest price was $0.00005880 on March 14, 2024. From a technical perspective, the price is fluctuating above the 20-day and 50-day EMA with an ascending channel pattern. and a bullish RSI and SMA crossover, indicating continued positive momentum.
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