There is a new meme coin sensation in the ecosystem dubbed BOOK OF MEME (BOME). Over the past 24 hours, the meme coin has seen a 300% jump, placing its price at $0.01751. BOME has shown intense oomph over the past week, rising from a low of $0.000858 about two days ago to a high of $0.01826 in the first few hours of trading.
BOME and competitors
The BOME rally is nothing new in the nascent meme coin ecosystem. With its launch last week, the parabolic growth trend seen with the emergence of PEPE and BONK remains visible in BOME, underscoring a similar trend for highly hyped meme coins.
At the moment, BOME’s volatility is positive with its trading volume increased by 180% to $2.71 billion, making it the 13th most traded cryptocurrency on the market today. This heavy volume, which has outpaced the PEPE and BONK pair over the past two days, has pushed BOME’s market capitalization to $922.44 million.
With the current growth momentum, BOME is approaching the PEPE and BONK pair in terms of market capitalization. While PEPE’s market capitalization stands at $3,483,981,703, BONK’s is pegged at $1,929,425,855, two valuations that BOME could surpass if it continues on this similar trajectory.
Post-hype stability
BOME is in a phase where hype is supplanting all fundamentals, and the phase is likely to fade away, as seen historically. From PEPE to Shiba Inu (SHIB) and BONK, meme coins are known to experience prolonged periods of cooling, a trend that may also be seen with BOME.
The emergence of BOME comes at a time when the overall market is experiencing a strong rally thanks to the influence of the Bitcoin spot ETF. With tokens like SHIB surviving the wrath of the crypto winter, BOME may need to certify itself with positive use cases to fit in with established designs in the industry.
