The main reasons why the price of Book of Memes (BOME) has increased almost 20 times
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The post “The Main Reasons Why the Price of the Book of Memes (BOME) Increased Nearly 20X” appeared first on Coinpedia Fintech News
The new memecoin Book of Memes (BOME), based on Solan, became the pioneering meme coin and the rise of all other cryptocurrencies and memecoins. In just 48 hours, BOME's meteoric rise has stunned the crypto world.
Let's dive into what's behind this unprecedented growth.
Book of Memes – a new meme coin based on Solana
Book of Meme is the latest entrant into the meme coin market to launch on the Solana blockchain. BOME is unique because it provides users with a combination of meme, trading and gambling features, as well as decentralized storage.
The Outstanding Meme Splash Book and Why?
The Meme Book, released on March 10, 2024, witnessed a notable 420% increase in value, causing its price to skyrocket to $0.02255. With a market capitalization of $1,230,304,731, BOME quickly rose to number 81 on Coinmarketcap in just two days, reaching a billion-dollar market capitalization.
The first reason for the surge is anxiety and FOMO.
Over the past 24 hours, BOME's trading volume has surged 280% to $3,448,195,869. Analysts believe the surge is mainly due to the memcoin hype. Large whale transactions have contributed significantly to the rise in BOME prices, such as the recent sale of 25,828,310.48 BOME tokens valued at $335,768.03.
Book of Meme tokens had a successful pre-sale prior to launch. The pre-sale of “The Book of Memes” collected 10,131 sol, indicating widespread investor interest, especially from China and the UK.
We believe that many cryptocurrency participants who missed out on the opportunity to profit from the popular memecoin Dogwifhat do not want to miss out on another potential memecoin. Thus, FOMO leads to overselling and a 2000% increase in sales.
The second possible reason is the listing announcements of Binance and Bybit.
Two of the most popular crypto exchanges, Binance and Bybit, announced the listing of Book of Meme (BOME) tokens. Binance allows futures trading with BOME participation, expanding investment opportunities. On the other hand, Bybit lists BOME on its spot market, allowing direct trading of the tokens.
Binance's listing increases trust, while Bybit's spot trading increases liquidity and accessibility.
The impeccable rise of the Book of Memes increased by 280% in the last 24 hours to $3,448,195,869, representing fervent excitement in the market surrounding memcoin. With its unprecedented growth and widespread attention, BOME has firmly established itself as a significant player in the market, sparking curiosity and intrigue among investors throughout. Grab your Red Racket 25 person limit
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