The memecoin project Book of Meme (BOME) has emerged as the latest shining star in the crypto market over the past few days. Following its official launch this week, BOME has generated massive investor interest, reaching a $1 billion market cap within 48 hours of trading.
BOME’s sudden emergence in the crypto space could be considered a silver lining amid Bitcoin’s 4% drop last week, which sent the first cryptocurrency down to around $65,345.14. Meanwhile, Ethereum is also down 10%, while major memecoins Dogecoin and Shiba Inu have also recorded losses of 24.23% and 16.69% in the past seven days.
What is a book of memes?
Book of Meme was founded by Darkfarms, the creator of another popular memecoin, Pepecoin. BOME operates as an experimental project that aims to integrate memes, decentralized storage solutions, DeGen Shitcoin trading and gambling to create a new web3 experience on a single platform.
After a successful presale 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 Memes quickly rose to a $0.012 price range, reaching a market cap value of $1 billion.
Due to its sudden listing by Binance, MEMECOIN BOME surged by 243% in 24h, but other MEMECOINs generally fell sharply, with PEPE WIF FLOKI BONK falling over 10%. BOME’s current market value has exceeded US$1.38 billion, ranking seventh among MEMECOIN in terms of market…
— Wu Blockchain (@WuBlockchain) 16 March 2024
Not surprisingly, BOME’s rapid growth has resulted in coin listings on major crypto platforms including KuCoin, Gate.io, MEXC, HTX, Crypto.com and Binance. In particular, BOME’s March 16 listing on Binance is believed to have boosted the token by 243% in price in one day, giving MemeCoin a peak market cap of $1.55 billion.
As with other highly successful memecoins, few investors have benefited the most from BOME’s growth. Data from LookonChain reveals that one particular investor has already sold all 347 million BOME for 34,647 SOL valued at $6.58 million, registering a 340x increase over the 102 ($19,000) investment in the presale. Meanwhile, the largest BOME holder individual address known as sundayfunday.sol currently has 1.242 billion BOMEs, valued at $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% in the last day. Meanwhile, the daily trading volume of the coin has increased by 125.05% and is valued at $5.18 billion. BOME has a current market cap of $1.18 billion, ranking MemeCoin as the 85th largest cryptocurrency.
BOME trading at $0.020112 on the hourly chart | Source: BOMEUSDT chart on Tradingview.com
Featured image from KuCoin, charts from Tradingview
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