Meme coin sensation Book of Meme (BOME) enjoyed a 345% increase in value over the past 24 hours, bringing its price to $0.02703.
The coin’s trading volume has soared by 262% to reach $3.8 billion, placing it at ninth on the list of the most-traded cryptocurrencies in the market today.
Since its market debut on March 14, BOME has experienced a meteoric rise from its all-time low of $0.00005848, jumping more than 39,000% within just 48 hours.
This surge has catapulted BOME’s market cap to an astounding $1.25 billion, enabling it to force its way into the top 100 biggest coins by market cap and the seventh largest among meme coins.
The coin currently has a circulating supply of 55,199,727,655, against a maximum supply of 68,999,659,569.
According to market watchers, key drivers of BOME’s success include its pre-sale that far exceeded expectations in its community, raising 10,131 Solana (SOL), and its listings on major exchanges like KuCoin, Gate.io, and Crypto.com.
Even Binance has decided to jump on the bandwagon, announcing on March 16 that it will be listing BOME.
The crypto exchange is offering four spot trading pairs for the meme coin, including BOME/BTC, BOME/USDT, BOME/FDUSD, and BOME/TRY.
While the meme coin’s performance in the market has been cause for joy for some crypto traders, others are ruing missed opportunities for even larger windfalls.
As crypto.news reported, one such investor sold their BOME tokens a day before their dramatic price jump, which would have turned their $8,000 investment into nearly $1 million.
Meanwhile, influencer Moataz Elsayed claims to have seen other traders make astronomical gains, highlighting the volatile yet potentially lucrative nature of meme coin investments.
Behind BOME’s surprising success is Darkfarms, a pseudonymous art producer who claims they launched the project without foreseeing the tremendous response it would garner.
Per the creators, the project’s next step will be to focus on enhancing liquidity and ensuring BOME’s position as a mainstay of the meme coin landscape.
