BOME - An awkward star meme coin on Binance

Bome's wash trading situation: After being listed on Binance, it took over half a year to wash out, and it only dropped by half, hardly any wash trading occurred. Just look at how Slerf Rats Sats was washed, dropping directly by 10 times, and Ordi dropped by 4 times. This coin hardly dropped, which is friendly to retail investors but unfriendly to big players.

The question arises, why isn't this coin dropping?

In my opinion, after being listed on Binance, when it was at the bottom, the market cap was 380 million U, indicating that it's a hot meme coin on Binance with spot trading, making it hard for the market cap to drop below 300 million U. Now, looking at Act, which has a market cap of around 400 million U, what does that indicate? There isn't much room for decline.

So, does Bome have big players accumulating at the bottom?

I feel there is some accumulation, but the volume isn't large, only about 5 times the previous volume. Generally, the volume of accumulation at the bottom is more than 10 times the previous volume, because it hasn't dropped much, and retail investors don't need to cut losses, so they can't get their hands on the coins.

So why is Bome currently stuck?

The wash trading isn't sufficient; it can't go up or down. Coins listed on Binance don't drop randomly. If it drops too much, someone will grab the chips, and it won't be the big players buying. It's not that Bome won't rise; when the market comes, it will rise, but Bome's weight is still a bit heavy.

Now look at Dogs, this worthless VC coin, actually not many people are optimistic about it; the subsequent weight is light, and it's expected to rise significantly. Dogs clearly has big players and project teams involved, and its market cap has dropped to a minimum of 260 million, which looks pretty good, right? After all, it’s listed on spot trading. Overall, I think Dogs scores higher than Bome.

From the perspective of chip structure analysis, I believe BOME is not an exceptionally outstanding coin, but that doesn't mean it won't rise later. When big funds come in, it will rise significantly. The inscriptions have been thoroughly washed, but it still hasn't risen. Just waiting for the right opportunity.