Meme Coin Season Continues as $BOME Surges 1,800% in a Week

The Solana blockchain has emerged as a hub for numerous emerging and trending meme coins. Among the fresh entrants, BOOK OF MEME (BOME) stands out, capturing significant interest from the community as the bull market rages.

The cryptocurrency has stolen the spotlight with an astronomical surge within just a few days of its launch. According to data from CoinMarketCap, BOME is up around 1,800% since it debuted in the crypto market on March 14.

This staggering ascent has not only catapulted BOME into the ranks of the top 110 cryptocurrencies by market capitalization but also secured it a coveted spot on some major cryptocurrency exchanges.

As of now, BOME is trading at $0.01597, down by almost 19% over the past day. However, the meme coin remains at the top of CoinMarketCap’s trending cryptocurrencies list, indicating ongoing community interest.

Key Takeaways

  • BOOK OF MEME (BOME), a new entrant on the Solana blockchain, has witnessed an astronomical 1,800% increase since its launch on March 14.
  • Created by the crypto artist Darkfarms, BOME aims to serve as a comprehensive platform for meme preservation and creation.
  • The pre-sale of BOME significantly exceeded expectations, raising over 10,131 SOL.
  • Following its successful launch and pre-sale, BOME was quickly listed on major cryptocurrency exchanges like BitMart, HTX, MEXC, and Binance.
  • Solana continues to be a favored blockchain for meme coins, thanks to the platform’s low transaction costs and high-speed performance.

Who Created BOME?

The mastermind behind BOME is the renowned crypto artist known as Darkfarms. With BOME, Darkfarms aimed to offer a permanent repository for the digital age’s most fleeting form of art: memes.

Revealed on March 10 and further detailed on March 12, BOOK OF MEME was presented as a multifaceted platform. It promises to serve not only as a renewable electronic magazine but also as a comprehensive meme creation tool and an open-access (CC0) meme library, redefining the meme coin concept as a “shitcoin” with tangible utility.

“BOOK OF MEME is here to capture the current meme meta, memecoin on most degen chain, data stored on arweave/IPFS/inscriptions,” creator Darkfarms said in a post on X.

They added that the “concept even can be used as a social platform with storage across the chains, but mainly it’s a book that I can update and keep adding new memes in new styles that could differ from my main collection here.”

 

Darkfarms is no stranger to the crypto art world, having gained popularity with the NFT series SMOWL and a consistent output of Pepe Coin (PEPE) meme images over the past years.

BOME’s Pre-Sale Exceeded Expectations

On March 13, Darkfarms announced a 24-hour pre-sale in a post on X, inviting participants to contribute SOL, Solana’s native currency, to a designated address.

The unique approach to this pre-sale was its dynamic pricing. Instead of a fixed cost, tokens were allocated based on the proportion of SOL contributed, making every participant’s stake directly influential on their final token share.

The fundraising efforts far exceeded expectations, with contributions surpassing the initial target range of 500-600 SOL. The overwhelming response, which topped a total of 10,131 SOL (slightly over $2 million at the time) raised by the following morning, prompted a community vote to decide on the optimal allocation of the pre-sale funds.

Following the pre-sale, Darkfarms integrated the raised funds into a liquidity pool, setting BOME’s initial price of $0.0000496. Large purchase orders of 100 SOL created a highly liquid market that led to a price peak of $0.0012.

Crypto Exchanges List BOME

The remarkable rise of BOME caught the eye of major cryptocurrency exchanges rapidly, and its subsequent listing on these platforms further contributed to the increase in the token price.

BitMart, HTX, and MEXC were among the early exchanges to announce that they would list the asset. BitMart later confirmed the primary listing of the altcoin with an initial USDT trading pair fuelling price predictions.

On March 17, Binance introduced four trading pairs for BOME, cautioning users about the potential for increased volatility given its novelty and rapid popularity surge. This listing further fueled BOME’s momentum, leading to an additional 140% increase in its value within just 24 hours.

Currently, with a market capitalization exceeding $848 million, BOOK OF MEME stands as the 104th largest cryptocurrency, a testament to its explosive entry into the market.

Solana Meme Coins Maintain Momentum

Solana, a blockchain platform known for its low transaction costs, has emerged as a preferred venue for trading meme coins. According to data from CoinGecko, the Solana meme coin sector has surged by 45.9% over the past day and 32.9% over the past week.

The Solana blockchain’s red-hot meme coin Dogwifhat (WIF) became the fourth-largest meme coin by market capitalization last week. This came after community members successfully raised over $690,000 in USDC stablecoin donations to showcase the Dogwifhat mascot on the Sphere, a renowned entertainment venue in Las Vegas.

The meme coin frenzy on Solana has also led to a notable increase in meme coin fundraising on the network. In the last 72 hours, crypto traders have funneled approximately $100 million worth of SOL into new Solana meme coins, according to data aggregated by crypto researcher 0xGumshoe.

Furthermore, Solana has become the largest in terms of DEX volume, surpassing popular networks like Binance Smart Chain and Ethereum. Solana DEXes recorded over $3 billion in trading volume over the past day, dominating the list, according to DeFi TVL aggregator DeFiLlama.

The Bottom Line

Launched on the Solana blockchain, BOOK OF MEME (BOME) has rapidly ascended from an innovative concept to a major contender in the meme coin sector. The cryptocurrency has also seen substantial price gains, rising by around 1,800% over the past week alone.

Did someone say meme season?

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