Book Of Meme (BOME) Stands Out Among Meme Coins With Price Surge
In a market where meme coins are underperforming, Book Of Meme (BOME) stands out as one of the few tokens trading in the green over the past 24 hours. The token has reported a 6.4% surge in its price with a 13.4% rise in trading volume over the past 24 hours, reaching $1.5 billion. This performance surpasses that of ‘Dogecoin Killer’ Shiba Inu, which has a trading volume of $1.2 billion. BOME currently holds the second-highest trading volume position on the meme coin board.
Last week, Binance announced that it will list BOME for users on its spot market and futures platform starting from March 23. The exchange will apply a seed tag to its BOME spot listing due to potential higher volatility. Binance will also introduce a USDT-margined BOME Perpetual Contract with leverage of up to 50x. The contract will feature a Multi-Assets Mode, allowing users to trade across various margin assets, including Bitcoin.
Based on CoinGlass data, BOME’s derivatives data analysis shows a 30% surge in volume and open interest standing at $143.4 million, the highest level in some time. Liquidations in the past 24 hours amounted to $4.16 million, with $2.12 million from long liquidations, indicating high trader interest and expectations of bullish momentum in the token’s price.
Kyledoops, the host of the technical analysis show on Crypto Banter, commented on BOME’s recent performance, stating that breaking through resistance has established solid support, suggesting a potential bullish trend ahead.
With high trading volumes and a price rally, BOME is quickly gaining traction among other leading meme coins on the board. The question remains whether this token will prove to be strong and stable or succumb to the volatility often associated with meme coins. Only time will tell if BOME can maintain its momentum and establish itself as a prominent player in the meme coin space.
