How Long Will the Hype Around Solana BOME Last
Journalist
- At the time of publication, BOME’s market value was already over $1 billion.
- Binance has announced that it will list the meme coin on its spot and derivatives market.
A newbie has made a splash in the crypto market as his appetite for memes continues to grow.
BOME’s Boom
In a stunning turn of events, Solana [SOL]BOOK OF MEME -based [BOME] token price has increased by 322% in the last 24 hours.
CoinGecko reports that it also reached the 100th position in terms of market capitalization within 48 hours of its launch.
At the time of publication, the coin’s market value was already over $1 billion. The trading price was $0.02202.
Source: CoinGecko
The origins of growth
Darkfarms, an art producer who designed a similar frog-themed token, Pepe, created this one. [PEPE]BOME is a token that combines memes with decentralized storage solutions.
The presale began on March 13th and users had to send SOL to a specific address to receive the airdrop.
Over 10,000 SOL were collected during the campaign. These funds were then added to a liquidity pool.
Since then, BOME demand has steadily increased as users rush to place large orders. Several well-known crypto exchanges, including Kucoin Bitget and Gate.io, have listed the memecoin.
AskFX analyzed Santiment data and found that trading volume had exploded, reaching nearly $4 billion in settlements as of March 16.
Source: Santiment
The first listing
Binance, the largest exchange in the world, listed the BOME spot trading pair.
The notification was sent to BOME just hours after the listing of Binance Futures, its derivatives division.
The market was captivated by the intriguing moves of a whale investor before this announcement.
What is the current value of 1,10,100 SOLs?
LookonChain’s data tracking system shows that whales purchased 314,000,000 BOME tokens hours before Binance made its announcement.
Because of their deep pockets, whales exert significant influence on the market. It is therefore not surprising that they have access to information that is not publicly available.
