A memecoin, BOOK OF MEME (BOME), has just entered the Top 100 most capitalized cryptocurrencies after just 2 days of existence. Launched on the Solana blockchain, BOME has seen its share price explode by over 50,000% from launch to today.
BOOK OF MEME (BOME), the new memecoin of the moment
The recent fall in the Bitcoin price, which has sent the overwhelming majority of the Top 100 cryptocurrencies into the red, will have had no impact on the success of memecoins launched on the Solana blockchain.
Spearheaded by Dogwifhat (WIF) – a project which will be appearing for a week at the Las Vegas Sphere – countless memecoins are being launched daily on Solana, with investors looking to make huge capital gains in record time.
These tokens, which have no use whatsoever, are purely speculative. Naturally, the losses are proportional to the potential gains on this type of altcoin, and many people lose money in the process.
However, some of these altcoins sometimes stand out, as has been the case over the past 2 days with the launch of the BOOK OF MEME (BOME) token, which has performed +58,000% from launch to its highest price, reached today around 3 p.m.
Evolution of the BOME token price from launch to today
As incredible as it may seem, memecoin has even broken into the Top 100 most capitalized cryptocurrencies. At the time of writing, BOME boasts a market capitalization of $1.5 billion. And this, we remind you, in just 2 days of existence on the crypto market.
What accounts for such success?
In contrast to the random memecoins launched here and there on Solana, it’s worth pointing out that the BOME was born of a community initiative launched by Darkfarms on X on March 12. More precisely, the latter invited those who wished to do so to send SOLs, Solana’s token, to an address in order to benefit from a BOME allocation when it was launched.
The day after the announcement, while only expecting to receive 500 or 600 SOLs, Darkfarmers found itself with over 10,131 SOLs on the given address, resulting in a very large distribution. Launched on March 15, the BOME quickly attracted the interest of many investors, leading to a rapid rise in its price and increasing the token’s liquidity.
From its launch to 3pm today, BOME’s share price has risen steadily, with many investors jumping on the bandwagon in a bid to generate substantial gains.
But investors weren’t the only ones eager to cash in on the memecoin craze. Numerous cryptocurrency exchanges, including BingX, MEXC, Poloniex, HTX and more recently Binance, have announced that they will be listing the BOME. In the case of Binance, BOOK OF MEME is listed on perpetual contracts with leverage up to a multiplier of 50.
How far will the BOME go after such a strong performance? We’ll soon find out.
