There is a new meme coin sensation in the ecosystem dubbed BOOK OF MEME (BOME). Over the past 24 hours, the meme coin has recorded a jump of 300%, placing its price at $0.01751. BOME has showcased intense grit over the past week as it moved from a low of $0.000858 about two days ago to a high of $0.01826 in early trading hours.
BOME and competitors
BOME’s rally is nothing new in the nascent meme coin ecosystem. With its launch this past week, the parabolic growth trend recorded with PEPE and BONK’s emergence remains visible in BOME, underscoring a similar trend for highly publicized meme coins.
At the moment, BOME’s volatility is positive with its trading volume up 180% to $2.71 billion, making it the 13th most traded cryptocurrency in the market today. This intense volume that has surpassed the duo of PEPE and BONK in the past two days has pushed BOME’s market capitalization to $922.44 million.
With the current growth momentum, BOME is closing in on the duo of PEPE and BONK in terms of market capitalization. While PEPE’s market cap comes in at $3,483,981,703, that of BONK is pegged at $1,929,425,855, two valuations BOME may surpass if it continues on this similar trajectory.
Stability post-hype
BOME is at a phase where the hype is superseding all fundamentals, and the phase is likely to fade off, as seen historically. From PEPE to Shiba Inu (SHIB) and BONK, meme coins are known to experience prolonged periods of cool-off, a trend that might also be recorded with BOME.
The emergence of BOME comes at a time when the general market is experiencing a major uplift with the influence of spot Bitcoin ETF. With tokens like SHIB surviving the wrath of the crypto winter, BOME might need to certify itself with positive use cases to match up with established projects in the industry.