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The Book of Meme price has soared 18% in the past 24 hours to trade at $0.012318 as of 04:18 EST time.
While the surge has seen BOME outperform its peers in the meme coin sector, including Pepe and Slerf, trading volume slumped 45%, suggesting fear among BOME investors.
Book Of Meme Price: Technical Outlook
The Book of Meme price has broken out from above the confines of a descending parallel channel on the 2-hour timeframe.
The next few days will be critical for the BOME price as it continues to consolidate horizontally. The Relative Strength Index (RSI) appears subdued, also moving horizontally below the 50 mean level. This points to a weak price trend as the market still leans in favor of the downside.
If the RSI is able to flip above the 50 level, and the histogram bars of the Awesome Oscillator (AO) cross over into positive territory, the Book of Meme price could extend north. A decisive candlestick close above the 50% Fibonacci placeholder of $0.0166 would encourage more BOME bulls to come in out of the fear of missing out (FOMO).
In a highly bullish case, the Book of Meme price could extend the gains further north, potentially filling the market range at $0.0246. Such a move would denote a 107% climb above current levels.
TradingView: BOME/USDT 2-hour chart
Converse Case
On the other hand, if the bears have their way, the Book of Meme price could drop to the bottom of the market range at $0.0086.
While the Book of Meme price pumps, it’s not the only hot meme coin opportunity in the market, and investors are flocking to Sponge V2 amid rumors that it’s about to list on multiple additional top-tier exchanges.
Promising Alternative To Book of Meme
Sponge V2 builds atop its predecessor, Sponge V1, which made headlines during the May 2023 season with 100X gains in a bear market.
Sponge V2 also brings better features and increased value for token holders than its predecessor. Among its new features are staking, with holders enjoying an impressive annual percentage yield (APY) of 173% on Ethereum and 411% on Polygon.
The staking function has received massive support, with upwards of 9.362 billion tokens already staked.
💸🛌 Earn passive rewards just by staking your $SPONGE! 🤯
Join the #SpongeV2 takeover and enjoy our current APY of 300%+ 😎
Absorb the damp! 🧽💦🙌 #MemeCoin #Presale #Staking pic.twitter.com/OJ08MgMmWy
— $SPONGE (@spongeoneth) January 19, 2024
Investors can buy SpongeV2 tokens via the website here using ETH, USDT, or a credit card.
Also Read:
- Best Meme Coins to Invest in: Top Picks for Exponential Gains!
- Can Sponge V2 Experience a Post-Launch Surge Like Sponge V1? – Cilinix Crypto Presale Review
- SPONGE Price Skyrockets 84% In 24 Hours As V2 Bridging Hype Explodes. Is Sponge V2 The Next Pepe Coin?
- Book Of Meme Price Prediction: BOME Plunges 41% As Meme Coin Mania Stalls, Yet This New DOGE ICO Raises Almost $3M In 5 Days
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