Book of Meme Soars to $1 Billion: Riding the Meme Coin Mania

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Book of Meme (BOME) has stormed onto the scene, creating quite a stir. Despite being launched just three days ago, BOME has already achieved an impressive $1 billion market cap, making it the sixth most traded cryptocurrency by volume.

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The meme coin market has witnessed an astonishing week, with a three-day-old meme coin emerging as the latest sensation, surpassing established tokens like BNB, ARB, and AVAX in trading volume.


Book of Meme: A Phenomenon in the Meme Coin Market

As of now, Book of Meme (BOME) has surged by 60% today alone and an astonishing 2,003% since its debut on CoinMarketCap on March 14th. With a market cap of $1.1 billion and a 24-hour trading volume reaching $4.9 billion, BOME’s meteoric rise has caught many by surprise.

However, BOME’s remarkable success has also stirred controversy, with accusations of a secret-order cabal being behind its launch and pump. These suspicions were further fueled by BOME’s unprecedented achievement of securing a listing on Binance within just two days of its launch, a feat that typically takes weeks to months for other meme coin sensations like Pepe and Dogwifhat.

According to its website, Book of Meme is described as an “experimental project poised to redefine web3 culture.” It aims to blend memes, decentralized storage solutions, and degenerative trading and gambling to reshape the landscape of web3 culture.

Analysis and Skepticism Surrounding Book of Meme

Analyst Lord Ashdrake voiced skepticism regarding the rapid rise of Book of Meme (BOME). He questioned the possibility of a single $20k account orchestrating such significant market moves, suggesting potential arrangements behind the scenes. Ashdrake also highlighted the swift listings on tier-one exchanges, insinuating pre-planned agreements to avoid significant dips in price.

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Ashdrake’s sentiments resonated widely on social media platform X, garnering substantial engagement with 640K views, 2K likes, and over 400 bookmarks. This widespread attention indicates broader market skepticism towards BOME’s unprecedented trajectory.

However, not all voices share Ashdrake’s skepticism. Commentator Mike Schmidt referred to Book of Meme as a “Top contender meme,” suggesting legitimacy and organic growth.

Book of Meme initially launched through a presale, yielding substantial gains for early investors. Crypto analytics account Lookonchain highlighted remarkable success stories, including one participant turning $72K into over $30 million within three days. Another investor achieved a remarkable 340x return, turning $19K into $6.58 million.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

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