The BOOK OF MEME (BOME) is currently a hot trend in the market, with a massive surge in just a few days, especially after being listed on the Binance exchange since March 15, 2024. This cryptocurrency has recently adopted Solana blockchain, a popular choice for many new meme coins.
Despite being listed for only a few days, BOME immediately experienced a staggering 2,433% increase before cooling down. Currently, BOME has only risen over 1,000% since its launch and is the top trending coin on the cryptocurrency data platform, CoinMarketCap.
Prior to the rapid surge of BOME, Binance cautioned its users that BOME is a new token and is expected to experience increased volatility, especially in its early trading days.
BOME currently has a market capitalization of $683 million, after reaching a peak of over $1.278 billion. This cryptocurrency has entered the top 125 largest cryptocurrencies in the world, marking an impressive debut, according to CoinMarketCap statistics.
However, the surge of BOME has raised doubts among some observers regarding its potential for such a massive increase.
History has shown numerous cases where newly launched meme coins experience rapid increases, only to quickly plummet. A similar cryptocurrency to BOME is Pepe (also featuring a green frog as its logo), which also experienced a remarkable surge, but quickly cooled down. Even a meme cryptocurrency created for fun like Dogecoin also saw a significant surge.
These cases demonstrate that the remarkable price increases may not necessarily reflect the true potential of these cryptocurrencies, but rather the excitement of investors at that particular time.
