BOME was up by 11.31% over the past week.
Solana meme coins surged on VanEck’s Solana ETF filing.
The crypto market has faced significant challenges over the past month amid a bearish trend, with many tokens reaching new lows. However, there’s been recent optimism as prices begin to rebound. Notably, Solana meme coins have surged in the last 24 hours, driven by recent news of investment firm VanEck filing for the first Solana ETF in the United States.
Solana meme coins like BONK, POPCAT, PONKE, and BOME have experienced notable gains. The Book of MEME (BOME) has shown a slightly bullish trend with an 8.62% increase in demand, reaching a price of $0.01013. Its trading volume spiked by 238% to $224 million.
Meanwhile, the filing of a Solana ETF by VanEck mirrors the regulatory journey of Bitcoin and Ethereum ETFs, which faced significant hurdles. Bloomberg Intelligence’s research analyst James Seyffart suggests that the lack of a formal 19b-4 filing upon submission could delay the ETF’s launch until mid-March 2025.
Nonetheless, Wall Street’s increasing acceptance of digital assets indicates a growing interest in cryptocurrency investment options within mainstream financial markets.
Will BOME Price Reach New Highs?
BOME has shown considerable price volatility, experiencing a 31.59% decrease over the past month but a recovery of 11.31% in the last week. Its daily Relative Strength Index (RSI) is currently at 49.17, indicating a neutral momentum zone, with the EMA signaling a sell.
Looking ahead, if BOME continues its upward trajectory, initial resistance is expected around $0.01020, followed by $0.01028. Further gains could push the price towards $0.01037. Conversely, a decline below current levels may find support initially at $0.00912, with potential further support at $0.00806 and $0.00712 if selling pressure persists.
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