Book of MEME (BOME) and Solana (SOL) Trends On Social Media As They Outperform Bitcoin (BTC) and Ethereum (ETH)
Book of MEME (BOME) and Solana (SOL) have emerged as the top two trending assets across major social media platforms, including X, Reddit, Telegram, and 4Chan, according to a recent tweet by Santiment.
The surge in popularity can be attributed to these assets’ recent outperformance in the markets, with the crowd increasingly viewing Solana and its associated meme coins as viable alternatives to Ethereum-based projects.
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BOME’s Meteoric Rise and Key Factors
Book of MEME (BOME) has experienced a remarkable journey since its introduction. Within a mere 48-hour window, BOME witnessed an unprecedented surge in value, reaching an all-time high of $0.02805 on March 16, 2024. However, the token has since experienced a correction, currently trading at $0.01511, representing a 25.53% decrease from its peak.
Several key factors have contributed to BOME’s price surge, with the token’s pre-sale being a pivotal catalyst. The pre-sale garnered overwhelming support, resulting in a significant increase in funds that were subsequently allocated towards establishing liquidity pools.
Exchange Listings and Futures Contracts
The listing of BOME on several major cryptocurrency exchanges has been a significant factor in the increase in its price. Exchanges such as KuCoin, Gate.io, Binance, Crypto.com, BitMart, MEXC, and HTX have added BOME to their trading offerings. This increased availability has further contributed to the market demand for BOME, playing a role in its price increase.
Additionally, Binance Futures has introduced a perpetual futures contract for BOME, providing traders with new investment opportunities. While innovative projects like BOME are associated with inherent volatility, the introduction of new trading pairs and incentives for market makers has generated interest in the cryptocurrency, establishing BOME as a significant player in the cryptocurrency market.
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Show more +Solana’s Resurgence and Meme coin Popularity
Alongside BOME, Solana (SOL) has also witnessed a resurgence in popularity, with the crowd increasingly regarding it as a viable alternative to Ethereum-based projects. Solana’s high-performance blockchain, which boasts fast transaction speeds and low fees, has attracted a growing number of developers and users seeking to build and interact with decentralized applications (dApps).
The rise of Solana-based meme coins has further contributed to the platform’s popularity. These meme coins, often inspired by popular internet memes and cultural phenomena, have captured the attention of investors and traders seeking high-risk, high-reward opportunities.
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