Bittime - The crypto world is once again enlivened by the presence of a new meme coin called Book of Meme (BOME). BOME soared rapidly by 1800% in just a week since launching on the Solana blockchain on March 14. So, what is the secret behind the price increase? Keep following this article!
This fantastic price increase has made BOME into the top 110 largest cryptocurrencies based on market capitalization, and is now even listed on several well-known crypto exchanges.
Who is Behind BOME?
The creative mind behind BOME is a renowned crypto artist called Darkfarms. Darkfarms wants to make BOME a "permanent library" for memes, a digital art form that is fast becoming extinct in this era.
Announced on March 10 and explained in more detail on March 12, BOME is presented as a multifunctional platform. In addition to being an updated e-magazine, BOME also offers tools for creating memes and a free meme library (CC0 license). Darkfarms calls BOME a “shitcoin” that has real uses.
Darkfarms is well known in the crypto world for its SMOWL NFT series and collection of Pepe Coin (PEPE) meme images over the years.
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BOME Presale Out of the Ordinary
On March 13, Darkfarms announced a 24-hour BOME presale. Uniquely, this presale does not have a benchmark price. Participants can send SOL, Solana's native currency, to specific addresses. The more SOL sent, the more BOME tokens earned.
The launch was a huge success. The initial target of 500-600 SOL was far exceeded with a total of 10,131 SOL (almost IDR 3 billion) collected. As a result, a community vote was held to decide the use of the presale funds.
The funds raised were then put into a liquidity pool, setting the initial price of BOME at $0.0000496. After that, the price of BOME jumped to $0.0012.
Also Read How to Buy Crypto:
BOME Officially Traded on Crypto Exchanges
BOME's extraordinary price increase made major crypto exchanges look at it. BitMart, HTX, and MEXC were the first exchanges to pair BOME. Binance even added four trading pairs for BOME but warned users about the potential for high volatility. This listing on Binance made the price of BOME jump 140% in 24 hours.
Currently, with a market capitalization of over $848 million, BOME ranks as the 104th largest cryptocurrency. This shows how rapidly BOME is growing in the market.
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Solana, Meme Coin Heaven?
The Solana blockchain, known for its low transaction fees, is becoming a favorite place to trade meme coins. The total market capitalization of meme coins on Solana rose 45.9% in a day and 32.9% in the past week.
Another Solana meme coin, Dogwifhat (WIF), was once the fourth largest meme coin by market capitalization. This happened after the Dogwifhat community managed to collect USDC (stablecoin) donations worth $690,000 to display the Dogwifhat mascot at the Sphere, Las Vegas.
Reported by Techopedia , the meme coin fever on Solana has also caused fundraising for new meme coins to soar. According to crypto researcher 0xGumshoe, in the last 72 hours, crypto traders have poured approximately $100 million SOL into new meme coins on Solana.
Furthermore, Solana is now the platform with the largest DEX (Decentralized Exchange) volume, surpassing popular networks such as Binance Smart Chain and Ethereum. According to DeFiLlama , the DEX on Solana recorded a trading volume of more than $3 billion in a day.
Conclusion
Appearing on the Solana blockchain, Book of Meme (BOME) has quickly gone from an innovative concept to a major player in the meme coin sector. BOME experienced a significant price increase, namely 1800% in just a week.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
BOME Price Skyrocketed 20x in a Short Time, Here's the Reason
Why do BOME prices continue to soar? This is the Secret Behind His Rise!
BOME Skyrockets 300%, These are Interesting Facts about the Book of Memes
Make Lots of Money! BOME's Early Investors Profit Over 30 million US Dollars
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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