BOME a new meme coin on the Solana Ecosystem from the Book of Meme project has reached more than $300 Million of trading volume in less than a day.
The huge influx of volume happened after its price increased for more than 4,000% in less than a day, shocking meme coin traders everywhere, especially in the Solana Ecosystem.
People are confused on what triggered the rise of this meme coin, but in this article, we will be talking about the two sentiments that helped this crypto gain its popularity in such a sudden manner.
BOME Trading Volume Explodes
The Book of Meme crypto project created by an artist called DarkFrams has taken the meme sector’s attention with its recent explosion in both its transaction volume and its price.
Looking at the data provided by CoinGecko, the price increase suddenly happened almost immediately after the token was available to be traded on decentralized exchanges or DEXes.
One of the DEXes that is providing a place for traders to trade the meme coin is Raydium, the currently number one DEX on the Solana Ecosystem according to its transaction volume.
The project itself did not have any big plans or any fundamental values that was marketed towards the public, but it only relied on the creator, who is an artist, that wants to explore the crypto sector and made his art into a token.
It bluntly promotes the project as an art meme-only crypto project, giving no promises of any fundamentals towards its investors.
But, looking at the current trends of meme coin traders, this is what is interesting for them, because when the market is at a positive condition, almost every meme coin goes up, so the more meme coins there are, the better it is.
The interest towards this project is huge, as the transaction volume itself already reached more than $300 Million only after being launched yesterday.
With its transaction volume going up, the price itself also went up by a mile, reaching a more than 4,000% increase since yesterday.
These Two Sentiment Plays a Huge Role
Speculations around what pumps this token’s price higher than most is currently revolving around two factors, which are the news on listings and the token itself being a part of the Solana meme coin sector.
Currently the Solana meme coin sector is one of the biggest sectors in the crypto space, with its overall price gain giving it the third place compared to other crypto sectors, trailing behind the restaking sector and the AI meme coin sector.
This means that meme coins that are a part of the Solana Ecosystem are currently popular so when there is a new one, it is almost guaranteed that the token will go up, which prompts the positive sentiment around BOME.
But, this does not stop there as BOME itself has another positive sentiment, which is all the listing news that pushes its price higher.
A lot of exchanges seem to be interested in BOME which is why there are a lot of exchanges listing BOME.
The news of listings on more than one exchanges has increased trust around the BOME community, which is why its price is still going up.
If you are interested in buying this token, it is important to note that it still falls under the category of meme coin, so it might be more volatile in the future, especially since its price increase is already significant.
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