In this article we delve into the cryptocurrency “Book of Meme” (BOME), which in a very short time has managed to emerge in the vast landscape of memecoins launched on Solana, achieving a billion-dollar market capitalization.
Let’s try to understand the role played by this project in the collective imagination of memecoins and see what it offers of interest to the cryptographic community.
Let’s then take a look at its reference markets and price trends.
All the details below.
Book of Meme: the memecoin that has conquered the Solana blockchain stage
Book of Meme (BOME) is a new memecoin developed on Solana, conceived by an unusual artist, supporter of meme culture in the decentralized world, known on X as “Darkfarms1“.
It is described on the homepage of their website literally as “a project to redefine web3 culture by combining memes, decentralized storage solutions, and shitty gambling and trading.“
Basically, Book of Meme presents itself to the market as a creative platform for generating memes and a storage system aimed at immortalizing the best meme content produced by the community on the archives of Solana, Arweave, and IPFS.
In the future, the roadmap plans to expand into the Bitcoin world through the integration of inscriptions to protect memes in the form of encrypted metadata within each individual satoshi.
The next updates involve connecting all the content associated with a specific meme through a single NFT, as well as periodically updating an electronic magazine known as the “Meme Book”.
The ultimate goal of the memecoin BOME is to promote the cultural heritage of memes around a new social dimension that can make this cultural phenomenon immortal.
By using advanced content generation tools and leveraging a database of public files accessible through blockchain technology, Book of Meme seeks to reshape the cultural landscape of digital productions on the internet.
‘Meme is art and Art is Meme, Meme is Life and Life is Meme, Meme is Internet and Internet is Meme. Who controls the memes, controls the Universe.’ pic.twitter.com/HDtJBDEoxM
— Darkfarms
(@Darkfarms1) March 17, 2024
The brilliant idea behind the project, combined with the strong wave of “memecoin mania” that has characterized the crypto exchanges on Solana in recent months, allowed BOME to earn a market capitalization of 1.5 billion dollars in just 4 days, before settling just below in the following days.
The rise of this cryptocurrency has earned it the right to re-enter by merit in the top 3 memecoins in the Solana ecosystem in terms of market capitalization, behind only WIF and BONK.
Reference markets and price performance of the crypto BOME
The crypto Book of Meme (BOME) can be traded on various cryptographic markets, both centralized and decentralized.
Among the most used CEX we find the names Binance, HTX, Gate.io, Bybit, Kucoin and Bitget, while among the DEX the only ones that have pools with sufficient liquidity are Raydium and Orca.
The total token supply is set at 68,999,649,476 BOME, with 78.96% already circulating on the market
The market capitalization, at the time of writing the article, is equal to 717 million dollars, with a price of 0.0129 dollars per coin.
The memecoin has immediately registered excellent performance on the cryptographic exchanges of the blockchain, surpassing the price of 0.02 dollars per token and marking an increase in value of 1280% in the 3 days following the launch.
The third day of trading was the most attention-grabbing in terms of trading volumes, with a large part of retail activities on Solana focusing on BOME.
In the following days, the hype has almost completely subsided, leaving the memecoin with a drawdown of about -40% from its highs.
The fever of meme-based cryptos could however return in the coming days, animating a market that has proven to be increasingly unpredictable in recent times, especially for tokens present on the Solana and Base markets.
BOME could easily recover a market capitalization of 1 billion dollars, and aim for at least a doubling in the context of a general market pump and FOMO in the meme field.
At the same time, the experiment could fail, bringing the current crazy prices back to their original values, finally bursting the huge balloon that fuels the rise of memecoins.
Many external factors will determine the future price action of BOME. The performance of Bitcoin will definitely have an impact on the graphical trend trajectory.
Furthermore, it will be crucial to monitor the performance of the broader altcoin sector, which has been growing since the beginning of the year without showing any significant retracements.
All of BOME’s future is ultimately based on the trust of the crypto market and the amount of attention that will be poured by retail investors into the most speculative cryptographic products.
Be careful not to expose yourself too much on this type of token, even if they can offer stellar returns, and only bet (since it is only gambling and not investments) what you are willing to lose.
