- BOME had already topped $1 billion in market valuation at press time.
- Binance introduced the itemizing of the meme coin on its spot and derivatives trade.
The crypto market’s unquenched urge for food for meme cash continues as a brand new child on the block has made heads flip.
BOME’s increase
In a sensational flip of occasions, Solana [SOL]-based BOOK OF MEME [BOME] token skyrocketed 322% within the final 24 hours.
Additionally, it has bagged the a hundredth rank by market capitalization in simply over 48 hours since launch, in accordance with CoinGecko.
The coin already exceeded $1 billion in market valuation at press time, with a buying and selling worth of $0.02202.
Supply: CoinGecko
Tracing the origins and progress
Created by artwork producer Darkfarms who additionally designed the same frog-themed token Pepe [PEPE], BOME is an experimental token venture aiming to mix memes and decentralized storage options.
The pre-sale started on the thirteenth of March, requiring customers to ship SOL tokens to a chosen handle to say the airdrop.
Over 10,000 SOL had been raised as a part of the marketing campaign, which had been subsequently added to a liquidity pool.
Since then, demand for BOME has picked up steadily as customers rushed to put huge purchase orders. Seeing the rise, a number of outstanding crypto exchanges like Kucoin, Bitget, and Gate.io, listed the memecoin.
In line with AMBCrypto’s evaluation of Santiment’s information, buying and selling volumes have risen meteorically, with almost $4 billion settled as of the sixteenth of March.
Supply: Santiment
The premier itemizing
The largest shot within the arm got here when the world’s largest trade, Binance, introduced the listing of BOME spot buying and selling pairs.
Curiously, the notification got here hours after BOME was listed on its derivatives arm, Binance Futures.
This key announcement was preceded by a whale investor’s intriguing strikes, which piqued the curiosity of market watchers.
How a lot are 1,10,100 SOLs value right this moment?
In line with on-chain information tracker LookonChain, the whale withdrew 12.7K SOL from Binance and used it to buy 314 million BOME tokens, hours earlier than Binance’s announcement.
Whales, by advantage of their massive pockets, exert important affect out there. So, their gaining access to private data will not be one thing out of the blue.