Bittime – The world of Solana meme coins is lively again with the presence ofBook of Memes (BOME)whose price has exploded 360,000%!
This fantastic surge made BOME's market capitalization exceed 1.1 billion US dollars. However, currently the BOME price is experiencing a correction.
The soaring price of the Solana meme coin has recently become a common phenomenon. A shift in investor interest away from Ethereum (due to high gas fees) towards Solana is driving this trend.
This is reinforced by the increase in Solana's daily trading volume which reached 6.3 billion US dollars over the weekend, while Ethereum only posted 4.4 billion US dollars.
In addition, the overall positive trend of the crypto market, marked by a new record high price of Bitcoin, is also fueling increased trading activity in meme coins. The combined total market capitalization of all meme coins currently stands at 53.96 billion US dollars.
Market players are still optimistic about BOME. They are looking forward to BOME's listing on a major exchange in the near future, which is expected to drive further price increases.
BOME: Reaching Market Capitalization of 1.1 Billion US Dollars, Is It Too Late to Buy?
Currently, BOME is ranked top #2 on DEXTools with a market price of 0.0135 US dollars (down 20.85% in 24 hours). BOME was launched on March 14 on the DEX exchange and immediately soared 62,490%. This increase brought the BOME price to its first support level at 0.0048 US dollars.
Consolidation above this support level then triggered a significant price increase in the following 24 hours.
BOME finally reached its all-time high of 0.028 US dollars, after experiencing an additional increase of 465%.
However, in the last 48 hours, the BOME price experienced a fairly deep correction. Early investors taking profits sent the price down 54%.
However, hope has not completely died out. The new support level between 0.011 and 0.014 US dollars can still be a support for market drivers to increase prices again.
However, selling pressure is currently still dominating transactions (with the sales percentage reaching 57% in the last hour). Investors need to be careful because BOME's market capitalization has reached 1.1 billion US dollars, leaving little room for significant price increases for investors who enter late.
Even if BOME's market capitalization could follow in the footsteps of Solana's meme coin leader, DogWifHat (WIF), its upside potential would only be around 3x its current price.
Therefore, many investors are starting to shift their attention from BOME to other crypto assets that have the potential to generate huge profits ahead of the next Bitcoin halving event in 31 days.
Check Today's Crypto Market:
Green Bitcoin: A Promising Alternative to BOME?
The soaring price of Bitcoin encourages investors to look for other crypto assets that can provide greater profits.
This crypto asset usually has a much lower market capitalization than Bitcoin, but its price movements can follow Bitcoin's trend.
For example, if the price of Bitcoin rises 2x from now, Bitcoin's market capitalization which currently stands at 1.3 trillion US dollars would need to become 2.6 trillion US dollars. Meanwhile, for other coins such as Green Bitcoin which has a market capitalization of only 2 million US dollars, a 2x increase only requires additional capital of 2 million US dollars.
In other words, investing in Green Bitcoin has the potential to provide much greater profits than BOME, especially for investors who get in early. BOME's market cap is currently 200x higher than Green Bitcoin.
Advantages of Green Bitcoin Compared to BOME
Built on the Ethereum network using the ERC-20 token standard, Green Bitcoin offers an environmentally friendly solution with energy consumption that is 10,000 times lower than traditional Bitcoin mining.
Green Bitcoin also has an innovative staking feature with a gamification model. Investors can earn passive income by staking their $GBTC tokens and taking part in daily Bitcoin price prediction competitions. The winner of the competition will get a prize in the form of $GBTC tokens with a bonus of up to 100%!
Also Read: AVAX Price Soars 12% Driven by Perpetual Contract with Binance
Green Bitcoin: A Bright Future for an Eco-Friendly Revolution in Blockchain
Green Bitcoin has promising prospects with an entertaining product and a growing community.
The project has a mature roadmap with plans to improve marketing, launch predict-to feature
Although Green Bitcoin offers a number of advantages over BOME, it is important to always be careful when investing in crypto. Here are some things to consider:
1. New Project
Green Bitcoin is still a new project. There is no long-term track record that can be used as a guide to assess its stability and growth potential.
2. Dependence on Bitcoin
The increase in the price of Green Bitcoin is very dependent on Bitcoin price movements. If the price of Bitcoin falls, the price of Green Bitcoin will most likely fall too.
3. Gamification Model
Although attractive, the gamification model of staking may not be suitable for conservative investors. Elements of competition and rewards can encourage risky decisions.
Also Read How to Buy Crypto:
Conclusion: Research and Diversification Are Key
Both BOME and Green Bitcoin are crypto assets with high risk. Before deciding to invest, it is important to conduct in-depth research and understand your risk profile. Portfolio diversification with established and stable crypto assets is also a recommended strategy.
While the crypto market offers huge profit potential, it is also filled with volatility and risk. Smart investors will always be careful, do research, and not be tempted by promises of instant profits.
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:
XRP Price Rises Despite Large Selling Transactions, This is the Latest Ripple News!
Today's Crypto News: Solana Soars to $200, Bitcoin Rises Slowly
Booming BOME, Darkfarms Trigger Memecoin Millionaire Trend on Solana!
DISCLAIMER : This article is informational in nature and is not an offer or solicitation 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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