Yet another Solana-based meme coin has made headlines by surging over 5000% in a single day. BOOK OF MEME (BOME) attracted a lot of attention from investors and traders as the token hit his billion-plus market cap on the second day of trading. With this, Memecoin officially entered the top 100 cryptocurrencies with a symbolic increase of almost 372% in the past 24 hours. Furthermore, this token is the fifth most traded token excluding stablecoins, with a trading volume of over $3.5 billion.
That being said, is this a concern for other top meme coins such as DOGE, SHIB, PEPE, FLOKI, BONK, and WIF?
Almost every meme coin has gained mainstream attention since PEPE's price sparked a massive rally. Shortly after this, Shiba Inu, Bonk, Dogecoin, and Floki soared spectacularly, followed by the newly launched meme coin Dogwifat (WIF). Therefore, memcoin mania appears to be in the ascendant and could escalate further as the token gets listed on popular exchanges.
What you need to be careful about is immediately after Binance announces listing BOME price started to firm up. This pattern has been seen before with Shiba Inu, Floki, and Pepe, whose prices faced significant selling pressure after being listed on Binance. BOME prices are currently down more than 17% from their highs and are expected to remain flat for some time.
Additionally, meme coin leaders Dogecoin and Shiba Inu are out of BOME's reach, but if bulls remain generous with newly launched meme coins, Pepe, Dogwifat, and Floki , BONK may be replaced by BOOK OF MEME. The cryptocurrency industry is currently full of surprises, so you should keep a close eye on the next price trend.
