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The Book Of Meme price pumped 62% in the past 24 hours to trade at $0.02012 as of 1:30 a.m. EST, and it’s now soared more than 2,000% since launch on March 14.
BOME’s latest surge came amid news of its listing on Binance, the world’s biggest crypto exchange, on March 16, prompting speculation about whether some whales who had earlier helped push the BOME price into the stratosphere had insider knowledge.
A fresh wallet withdrew 12,721 $SOL($2.3M) from #Binance and bought 314M $BOME at $0.0074 in the past 30 mins.
Does He know something we don't?🤔https://t.co/cDrm9SOtOB pic.twitter.com/g6GbCbZb1L
— Lookonchain (@lookonchain) March 15, 2024
BOME is already the 7th-largest meme coin with a market capitalization of almost $1 billion.
Book Of Meme Price Prediction: A Correction Looms
Looking at Book Of Meme price charts, we notice a potential head and shoulders pattern forming, typically a bearish reversal pattern. This is supported by the Awesome Oscillator (AO), which is below zero and appears to decrease in value, indicating that the short-term momentum is weaker than the long-term momentum, suggesting bearish pressure.
On the other hand, the Average Directional Index (ADX) indicator, with a value of 20.95, suggests that the trend strength is moderate. However, its southern trajectory suggests that the Bullish trend is becoming weaker.
30-minute BOME/USDT Chart | Source: TradingView
The recent trend change can be attributed to whales cashing out for profits. According to stats by Lookonchain, sundayfunday.sol turned $72K into $30.2M in just 3 days.
The whale was the largest BOME presale participant, spending 421 SOL($72K) to participate in the presale, and received 1.43B BOME valued at approximately $30.6M currently.
He later sold 190M BOME for 19,646 SOL($3.66M) to take profits, leaving 1.24B BOME (26.57M).
sundayfunday.sol turned $72K into $30.2M in just 3 days on $BOME!😱
sundayfunday.sol is the largest $BOME pre-sale participant, spending 421 $SOL($72K) to participate in the pre-sale of $BOME and received 1.43B $BOME($30.6M currently).
He sold 190M $BOME for 19,646 $SOL($3.66M)… pic.twitter.com/4m3spvkI72
— Lookonchain (@lookonchain) March 17, 2024
A Promising Alternative
While the Book Of Meme price risks a correction, Smog (SMOG) has become an established Solana meme coin star, not least because it promises “the greatest Solana airdrop of all time.”
Following in the footsteps of successful projects like Bonk (BONK), Dogwifhat (WIF), Myro (MYRO), and Wen (WEN), Smog aims to outdo its Solana competitors, as indicated by its slogan, ”one meme coin to rule them all.”
While no details of the airdrop have been released, the project’s tokenomics shows 35% of SMOG’s token supply is reserved for such events.
Anyone who purchases and holds Smog tokens can participate in the airdrop. Investors also can increase their chances of receiving additional free tokens by completing the many missions outlined on Smog’s Zealy campaign to earn airdrop points.
The cryptocurrency’s Zealy campaign has completed over 1.9 million missions.
https://twitter.com/Takes_ReformDAO/status/1766183286332703003
Buyers can also stake SMOG tokens to earn a dividend of 42% annually. Already 22.4 million tokens have been staked.
Despite a steep correction in the meme coin sector in recent days, Smog has still surged almost 107% in a month, and has more than 100,000 holders.
You can buy SMOG tokens using Ethereum, USDT, or a credit card.
The best place to buy Smog is on the official website here, where you can get a 10% discount. But act soon because the offer isn’t likely to last for long.
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