BOME leads crypto-meme race with 35% gain while Pepe declines
The cryptocurrency landscape is currently experiencing a phase of price correction, affecting major players such as Bitcoin, Ethereum, and Solana, among others. Amidst this correction, the cryptocurrency meme sector’s Book of Meme (BOME) has captured everyone’s attention. Today, on March 22, 2024, despite the downward momentum experienced by top cryptocurrencies, the Solana-based BOME token has surged by over 35% in the last 24 hours.
Why DOGE and BOME price is increasing?
In addition to BOME, the world’s biggest meme coin DOGE has also experienced a price surge of over 5%. However, this surge in price for BOME and DOGE is attributed to the recent breakout of a major resistance level observed on the chart within a 4-hour time frame. Meanwhile, Shiba Inu (SHIB) and the recently listed Coq Inu (COQ) have also seen significant increases of 3.5% and 10%, respectively.
With these meme coins’ performance, the crypto-meme industry’s overall market cap is increasing by nearly 4%, currently standing near $55.8 billion. Showing impressive performance, BOME is currently trading near $0.015, marking a price surge of over 35% in the last 24 hours alone. Looking at BOME’s performance over a longer period, in the last 7 days, it has experienced a price surge of over 180%, while over the last 30 days, it has soared nearly 1650%. BOME technical analysis and key levels.
According to expert technical analysis, the surge in BOME’s price is attributed to the recent breakout of the consolidation zone observed in the 4-hour time frame. However, following a significant surge, BOME is currently facing resistance near the $0.16 level. If BOME manages to break out and close above this $0.016 level within a 4-hour time frame, it is anticipated that BOME will reach the $0.022 level.
On the other hand, DOGE is currently trading near $0.16, having experienced a price surge of over 5%. Reviewing DOGE’s performance over a longer period, in the last 7 days, its price has dropped by 1.5%. However, over the last 30 days, DOGE prices have seen a 90% upside momentum.
Nevertheless, the trading volume of meme coins has decreased by 13%, currently standing near $10.6 billion. This significant drop in trading volume underscores the waning interest of investors and traders in meme coins.
Despite the overall market structure and trading volume, top meme coins, including PEPE, WIF, FLOKI, and BONK, experienced a decrease in their value on March 22, 2024, according to data from CoinMarketCap. In the last 24 hours, PEPE, WIF, FLOKI, and BONK have seen price falls of over 3.5%, 3.2%, 5%, and 2%, respectively.
