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The Book of Meme price soared 7% to trade for $0.013587 as of 04:25 a.m. EST time as trading volume dropped 10%.
It comes as meme coins try to recover, with big-wigs like Dogecoin (DOGE) and Shiba Inu (SHIB) dumping even as the likes of Dogwifhat (WIF), FLOKI (FLOKI), Bonk (BONK) and Book of Meme (BOME) surge.
The optimism comes as the Bitcoin (BTC) price continues to show strength, up 3.4% on the day. If this show of strength continues, altcoins could benefit from the capital overflows from the BTC market.
In the meantime, however, the Book of Meme price continues to struggle, with the market still leaning to the downside. A decisive candlestick close below the ascending trendline would encourage more sell orders, with the ensuing selling pressure sending the BOME price lower.
However, if the bulls are able to sustain a decisive candlestick close above the ascending trendline, the Book of Meme price could extend to the 50% Fibonacci placeholder at $0.016882.
Technical indicators flash neutral, closely knit along the mean level. The position of the Relative Strength Index (RSI) below the 50 midline as well as underneath the yellow band of the signal line tilts the odds further in favor of the downside. This is because its stance below 50 shows the bears have the upper hand.
Accentuating the bearish thesis is the position of the Moving Average Convergence Divergence (MACD) indicator in negative territory. Further, the Awesome Oscillator (AO) indicator shows a red histogram bar, steadily edging toward negative territory.
TradingView: BOME/USDT 4-hour chart
Converse Case
If the bears have their way, the likely target would be the Book of Meme price retracing to the bottom of the market range at $0.008799. This could be a possible buying opportunity for the late bulls and investors who were sidelined in the previous rally.
Even as small market capitalization-sized meme coins try to recover, investors are shifting focus to the Dogecoin 2.0 presale, which has gone ballistic.
Promising Alternative To Book of Meme
Dogecoin 2.0, powered by the DOGE20 token, is one of the latest ICOs to give investors affordable entry into the red hot meme coin space.
Dogecoin 2.0 marks the latest and greatest addition to the Doge family of meme coins. Its ticker, $DOGE20, is committed to becoming the next Dogecoin (DOGE) or Shiba Inu (SHIB).
https://twitter.com/DOGE_COIN20/status/1768242237266104505
Doge20 has already raised an incredible $8.7 million after it sold out its initial $6 million soft cap. Its hard cap of $10 million is likely to be reached in days at the current run rate.
Utilizing Ethereum-powered smart contracts, #DOGE20 transcends its #Memecoin origins. 🌟🚀
Empowering the #Crypto Community with passive rewards! 💸
Optimize your $DOGE20 holdings by engaging in staking and earning rewards. 💎🔥 pic.twitter.com/cTbZcfRJjO
— Dogecoin20 (@DOGE_COIN20) March 24, 2024
Dogecoin20 is advertised as the ultimate Doge upgrade, taking Elon Musk’s favorite meme coin Dogecoin (DOGE) into a new, more innovative future.
https://twitter.com/DOGE_COIN20/status/1771582749129797818
The token also offers a whopping 119% Annual Percentage Yield (APY).
It’s available for purchase at $0.000209 for another 2.5 days or until it sells out. Interested buyers should act fast before it’s too late.
Investors can buy DOGE20 using ETH, BNB, or USDT.
Also Read:
- Dogecoin20 Price Prediction – DOGE20 Price Potential in 2024
- How to Buy Dogecoin20 – DOGE20 Presale Review
- New Cryptocurrency ICO Dogecoin20 Launches With $250,000 Raised On Day One – Next Big Meme Coin?
- Best Meme Coins to Invest in: Top Picks for Exponential Gains!
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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