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The Book Of Meme price surged more than 16% in the last 24 hours to trade at $0.01014 as of 11:24 p.m. EST as investors FOMO buy the meme coin.
With the recent uptick in the BOME price, the crypto was also able to push its weekly performance back into the green. As a result, the meme coin is now up 11% over the last 7 days as well.
The Book Of Meme Price Breaks Resistance
4-hour chart for BOME/USD (Source: GeckoTerminal)
The Book Of Meme price rose above the major resistance level at $0.00938 in the last couple of hours and is attempting to break above the next technical obstacle at $0.01047. Should the meme coin successfully break above this threshold in the next 12 hours, it could keep climbing to potentially reach as high as $0.01150.
On the other hand, a rejection from the $0.01047 resistance in the next 8 hours could invalidate the bullish thesis. In this alternative scenario, the Book Of Meme price might end up falling below the recently-breached $0.00948 mark and possibly plunge to the subsequent support level at $0.00834.
Technical Show The Book Of Meme Price Has A Lot Of Bullish Strength
From a technical standpoint, indicators on BOME’s 4-hour chart suggest that the Book Of Meme price could continue to climb through the course of the next trading day. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing bullish signs.
The MACD line crossed above the MACD Signal line in the last few hours. Traders usually see this as an indication that a crypto has entered into a positive trend. Meanwhile, the gap between the two technical indicators is growing. This could suggest that BOME’s bullish momentum is picking up steam.
Buyers also took control of the Book Of Meme price in the last few hours, as suggested by the RSI readings that rose above the major 50 benchmark during this period. What’s more, the positive slope of the RSI line suggests that bulls are still growing stronger against their bearish counterparts.
As technicals flash bullish for the Book Of Meme price, investors are also flocking to the layer-2 meme coin rival Pepe Unchained (PEPU), which has just blasted past $22 million in funds raised in its presale, one of the most successful of the year.
Elevating The Entire Meme Coin Sector To The Next Level
Pepe Unchained (PEPU) is a layer-2 meme coin project that comes with unmatched levels of utility. On a mission to scale the entire meme coin space, Pepe Unchained comes with its own blockchain that will enable much higher transaction speeds than Ethereum and slash networking fees through its native sidechain.
The project is designed to rescue PEPE, the third largest meme coin by market cap, from the congested Ethereum network. But it also plans to open up its network to the rest of the lighthearted sector of the crypto market.
In addition to its layer-2 capabilities, Pepe Unchained will also provide a platform for a generation of meme coin-centric decentralized applications (dApps). Recently, the team announced the launch of its developer grant initiative, giving approved developers the opportunity to build dApps on the Pepe Unchained network.
With the upcoming dApp development, its meme coin appeal and its layer-2 capabilities, it’s easy to see why analysts are bullish on Pepe Unchained.
In a recent video, an analyst from the 99Bitcoins YouTube channel, which boasts over 706K subscribers, said that PEPU has the potential to soar 100X.
Anyone can acquire the token at this early stage using the simple buy widget embedded on Pepe Unchained’s website. Selling for $0.01177, the meme coin can be bought with either ETH, USDT, BNB or bank card.
$22M!!!
Just wait until you see what's cooking 😉 pic.twitter.com/4Wuhy2bfyL
— Pepe Unchained (@pepe_unchained) October 23, 2024
Once purchased, the PEPU tokens can be put to work immediately through the lucrative staking program on offer to presale investors. Anyone who buys and stakes PEPU now stands to earn up to 103% in annual rewards.
Investors who want to acquire the token at the best rate will want to act fast because its price is set to increase as its presale progresses. The next price hike will happen in less than 39 hours.
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