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There is a new meme coin sensation in the ecosystem dubbed BOOK OF MEME (BOME). Over the past 24 hours, the meme coin has checked in a 300% jump, placing its price at $0.01751. BOME has shown intense strength over the past week, rising from a low of $0.000858 around two days ago to a high of $0.01826 in the early trading hours.
BOME and competitors
The BOME rally is nothing new in the nascent coin ecosystem. With its launch last week, the parabolic growth trend recorded with the emergence of PEPE and BONK remains visible in BOME, highlighting a similar trend for high-profile meme coins.
Currently, BOME's volatility is positive with trading volume up 180% to $2.71 billion, making it the 13th most traded cryptocurrency on the market today. This intense volume that overtook the PEPE and BONK duo over the past two days pushed BOME's market capitalization to $922.44 million.
With the current growth dynamic, BOME is approaching the PEPE and BONK duo in terms of market capitalization. While PEPE's market cap stands at $3,483,981,703, BONK's is pegged at $1,929,425,855, two valuations that BOME could surpass if it continues on this similar trajectory.
Post-hype stability
BOME is in a phase where hype trumps all fundamentals, and this phase is likely to fade, as has been seen historically. From PEPE to Shiba Inu (SHIB) and BONK, meme coins are known to experience prolonged cooling periods, a trend that could also be recorded with BOME.
The emergence of BOME comes at a time when the market in general is experiencing a major boom under the influence of the Bitcoin ETF spot. With tokens like SHIB having survived the wrath of the crypto winter, BOME may need to certify itself with positive use cases to match established projects in the industry.