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- 1 The Book of Meme crypto experienced a surge of 20.65% in the last 24 hours, and was trading at $0.0122 at press time.
- 2 The outlook for BOME is optimistic, with expectations of a substantial increase if it overcomes resistance levels.
The BOME price has shown good activity on the chart recently and has shown signs of sustenance in recent sessions over the daily chart. The outlook for BOME is optimistic, with expectations of a substantial increase if it overcomes resistance levels.
About BOME Token
The BOOK OF MEME is a project that aims to integrate memes, decentralized archival methods, and speculative cryptocurrency ventures. This project seeks innovatively to capture the dynamic essence of meme culture in a perpetual anthology, the BOOK OF MEME, anchored eternally on the blockchain.
With the BOME memecoin leveraging the Solana network, and utilizing Arweave and IPFS for the foundational storage of the Book Of Meme along with the prospective expansions to Bitcoin inscriptions for perpetual preservation, this endeavor aspires to cultivate a novel realm of decentralized social platforms, ensuring the indomitable spirit of memes.
BOME Crypto token distribution Overview
Data from solscan.io reveals that the total circulating supply of BOME tokens is 68.9 billion. Analysis of the token distribution shows that the top 100 holders out of 72K possess a combined total of 54.7 billion BOME tokens, which constitutes roughly 79.29% of the supply. The remaining balance of 14.2 billion tokens is held across the other accounts.
BOME Price And Volume Analysis
The volume analysis shows that the BOME cryptocurrency received $5.19 Billion in volume, on March 17th, 2024. The price vs volume chart describe a hefty surge in volume on the 17th, along with the price rise. But, the BOME price failed to climb higher and the price started to plunge along with the volume.
The current volume is 1.7 Billion, and the BOME price is at $0.0122, this data shows that the volume is declining steadily and has come to a point where it is showing a sustenance sign.
BOME Price Action Analysis Over a Daily Time Frame
According to the daily chart, the crypto asset has revealed a sign of recovery as the price shows sustenance at a crucial level of around $0.010 on the chart.
The BOME crypto looks like it is set for a spectacular surge to crack the hurdle price levels above and could rocket to new peaks from the current support zone.
The Book of Meme crypto is experiencing a surge of 20.65% in the last 24 hours intraday session, and currently trading at $0.0122.
Therefore, if the demand for the asset surges, the BOME price could bounce back from the current level. The next goal for the price is to reach $0.0300 and the primary resistance would be $0.0200.
However, if the crypto price fails to stay above the $0.0100 level, it could decline further and reach lower levels.
Summary
The BOME token’s distribution analysis from solscan.io indicates a concentration of ownership, with the top 100 holders out of 72K owning about 79.29% of the total 68.9 billion tokens. The remaining tokens are distributed among other accounts. On March 17th, 2024, there was a significant increase in trading volume to $5.19 Billion, coinciding with a price rise. However, the price did not sustain the climb and began to fall alongside the volume.
Currently, the trading volume has decreased to $1.7 Billion, and the BOME price has stabilized at $0.0122. This suggests a potential for stability after a period of decline. The BOME token showed possible signs of recovery at $0.010.
The outlook for BOME is optimistic, with expectations of a substantial increase if it overcomes resistance levels. It’s currently up by 20.65% in the last 24-hour session, trading at $0.0122. If demand increases, the price could rebound, aiming for a target of $0.0300, with the immediate resistance at $0.0200. Conversely, if it fails to maintain the $0.0100 support level, there could be further declines.
Technical Levels
Support Levels: $0.0100
Resistance Levels: $0.0200
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
