- BOME crypto has reflected a remarkable upsurge of 23.32% during the weekly trading session.
- The BOOK OF MEME crypto has outperformed Dogecoin (DOGE) since May 10, 2024.
- The meme coin reflects higher liquidity with a volume-to-market cap ratio (VMR) of 31.43%.
Launched in March 2024, the BOOK OF MEME (BOME) is a newcomer to the meme coin community. It is a decentralized cryptocurrency aiming to empower creators and preserve the meme culture. The meme coin operates on the Solana blockchain, which enables the trading and minting of memes as NFTs.
Conversely, BOME crypto has recorded a massive amount of positive profitability since its launch. The cryptocurrency has delivered over 1300% positive returns. This newcomer seems ready for a showdown in the global crypto meme community.
BOOK OF MEME May 2024 Performance, Supply Changes, & Valuation
As per global data and statistics, the BOME crypto gained tremendous praise from the worldwide crypto meme community. On March 16, 2024, the market cap for the meme coin was at $500.59 million. At present, the current market capitalization stands at $809 million, with a circulation supply of 68.96 billion BOME tokens.
The above statistics show the positive growth and increasing interest of investors in accordance with this meme coin.
Within a short span of time, BOOK OF MEME crypto managed to place itself amongst the top 100 most dominant cryptocurrencies in the world. In addition, the community behind this meme coin is feeling 74% bullish today, reflecting the positive impact on people’s lives and surroundings.
In the last 7 days, the BOME price has increased over 23%. The meme coin has outperformed the global cryptocurrency market and similar memecoins.
Price Volatility & Social Dominance Analysis
In mid-March 2024, the upsurge in tweets about the BOOK OF MEME crypto captured almost 3% dominance in the entire crypto world. This is a huge achievement for a cryptocurrency to gain that much praise in its initial launch.
Since then, the price has adopted a positive attitude, and the volatility reflects stability at 0.04 in the current phase. Social dominance is declining, but the price seems to be rising, reflecting the trust of traders and holders of this crypto.
Technical Analysis of the BOOK OF MEME (BOME/USD) Price
BOME price has given a breakout from a trendline, which is forming from the $0.0209 level. The price has shown a strong bullish movement from the $0.0083 demand zone in recent sessions. This resulted in an upsurge of over 50% from that level. Currently, the price is moving in an upward direction. The technical speculation about the BOME crypto suggests a bullish outlook in the current phase.
The relative strength index (RSI) is showing an internal bullish divergence in the price momentum. It indicates a shift in bullish strength with a golden crossover between the RSI and SMA lines. The RSI is moving at 56.42.
Summary
The BOOK OF MEME crypto price has given a breakout from the trendline, forming since March 17, 2024. On the other side, the meme coin has delivered over 1300% positive returns since the initial launch.
The price of BOME crypto also outperformed the global cryptocurrency market and similar memecoins. Regarding the current market speculations, the BOOK OF MEME crypto reflects a short-term bullish outlook in the current phase.
Technical Levels
The immediate support level for the BOME price at the time of writing was $0.0072, while the $0.0185 is the next resistance. An upsurge in price can be seen if the price can make past the upper resistance level. Likewise, a price drop below the mentioned support level can lead to a price pullback to a lower level.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.