BOME, the crypto token of the Book of Meme project, has still managed to keep its price positive even though the whole market is currently going downwards.
The surge still continues after there are many listings and community engagements that are done by the members of the BOME Community, including its holders, telling one another to keep holding on and not sell.
Even though there are some allegations about the project, the token has managed to continue giving investors profit even after going down by 50% in a day.
BOME Surged by 8.9% in Day
BOME has been accused of an allegation that it has created an insider trading which is now being investigated by Binance.
The project itself managed to increase by a couple of thousand percent in just a short period of time which raised curiosity in the crypto space.
However this surge is still being capitalized by the traders who are continuingly pumping the token upward, recovering its price from its recent drop.
According to Coingecko, today, the price surged for about 8.9% in under 24 Hours, which created hopes that the mem coin frenzy is not over yet for this token.
The price gain happened even though the current market condition is not positive, which is a common thing in the meme coin sector.
Meme coins typically diverge from the overall crypto market when it has its own positive sentiments.
Looking at how almost every media and every influencer is still talking about it, it is not a surprise that volume still goes up until this day.
The overall market capitalization of this token has also risen quite a bit in the last days to now reaching more than $666 Million, even though this is lower than its all time high.
The 24 Hours trading volume also shows steady signs of more than $1 Million, which is a huge accomplishment for a meme coin.
Top Holders are Still Holding
Looking at the holders ratio from the top holders of this token, it can be seen that most of them are still holding and not letting go.
The top holders are currently exchanges with Binance holding almost 50% of the overall supply of BOME.
It is somewhat a relief that most of the tokens are held by exchanges and not by a whale that could manipulate the price however they like.
But, it is also worth noting that some of the whales still hold a huge portion of the overall BOME supply.
In the top 10 spot of the holders, there are currently five wallets with more than 1% of the BOME supply, where the two of them have bigger holdings than Crypto.com.
However, it is still unclear whether these are exchanges that have not been tagged yet by the blockchain scanner, or just regular whales who have that much power over the price of this token.
Since the price has surged significantly, if you are looking to get into the BOME Token, it is better to be careful and not use your emotions when trading this.
Always use proper risk management and a separate allocation of capital when dealing with meme coins so that the volatility does not affect your everyday lives.
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