Memecoin project Book of Meme (BOME) has become the latest shining star on the crypto market in recent days. Following its official launch this week, BOME has attracted significant investor interest and achieved a market capitalization of $1 billion within 48 hours of trading.
The sudden rise of BOME can be considered a silver lining in the crypto space over the past week, amid Bitcoin’s 4% decline, which resulted in the first cryptocurrency falling to around $65,345.14. Meanwhile, Ethereum has also fallen 10%, while prominent memecoins Dogecoin and Shiba Inu also posted losses of 24.23% and 16.69% over the past seven days.
What is Meme’s book?
The Book of Meme was founded by DarkFarms, the creator of another popular memecoin Pepecoin. BOME functions as an experimental project aimed at integrating memes, decentralized storage solutions, degen shitcoin trading and gambling on a single platform in an attempt to create a new web3 experience.
After a successful pre-sale that raised 10,131 SOL, BOME debuted on the crypto market on March 14 with an initial price of $0.0000496. Over the next two days, Book of Meme quickly rose to a price area of $0.012 while reaching a market cap value of $1 billion.
The sudden listing by Binance saw MEMECOIN BOME rise sharply by 243% in 24 hours, but other MEMECOINs generally fell sharply, PEPE WIF FLOKI BONK fell by more than 10%. BOME’s current market value has exceeded $1.38 billion, ranking seventh in MEMECOIN in terms of market value.
— Wu Blockchain (@WuBlockchain) March 16, 2024
Unsurprisingly, BOME’s meteoric rise has seen the coin listed on major crypto platforms including KuCoin, Gate.io, MEXC, HTX, Crypto.com and Binance. In particular, BOME’s listing on Binance on March 16 is believed to have led the token to a 243% price increase within a day, allowing the memecoin to reach a maximum market capitalization of $1.55 billion.
In a similar vein to other highly successful memecoins, some investors have benefited the most from the rise of BOME. Data from LookonChain reveals that a certain investor has already sold all 347 million BOME for 34,647 SOL worth $6.58 million, making a pre-sale profit of 340x on an investment of 102 ($19,000). Meanwhile, BOME’s largest personal address, known as sundayfunday.sol, currently holds 1.242 billion BOME, worth $29.8 million.
BOME price overview
At the time of writing, Book of Meme is currently trading at $0.02139 with a gain of 58.08% on the last day. Meanwhile, the coin’s daily trading volume has increased by 125.05% and is valued at $5.18 billion. BOME’s current market capitalization is $1.18 billion, making the memecoin the 85th largest cryptocurrency.
BOME trading at $0.020112 on the hourly chart | Source: BOMEUSDT chart on Tradingview.com
Featured image of KuCoin, chart from Tradingview
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