Book of Meme (BOME), a newly launched meme coin within the Solana ecosystem, has grabbed huge consideration owing to its value surge. The BOME value rallied over 25% right this moment. Moreover, the Solana meme coin additionally witnessed a big acquire in its open curiosity.
Why Is BOME Price Soaring?
The Book of Meme crypto value surged over 42% from its low of $0.0118 and attained a excessive of $0.01681 on Friday, March 22. At press time, the BOME value was up by 25.06% to $0.01494. Whilst, the crypto boasted a market cap of $825.06 million. Moreover, the 24-hour buying and selling quantity for BOME skyrocketed 100.10% to $1.90 billion.
Furthermore, the Book of Meme open curiosity soared 11.76% to $156.16 million. This underscores the rising recognition of BOME amid derivatives merchants. In addition, the derivatives quantity soared by a whopping 111.96% to $3.51 billion.
The surge within the BOME open curiosity performed a big function within the value surge right this moment. Moreover, the quick squeeze additionally influenced the worth motion considerably. According to Coinglass, round $2.54 million quick liquidations have been famous within the final 24 hours.
These quick merchants are anticipated to purchase their positions again, which might ship the BOME value larger earlier than an enormous correction. Shorts dominated the market however vital lengthy liquidations have been additionally famous. Nearly $2.30 million lengthy liquidations have been recorded for BOME.
However, the Book of Meme crypto has attracted scrutiny from Binance, the world’s largest crypto trade. Binance launched an investigation on March 18 into allegations surrounding the Book of Meme. The investigation was prompted by issues about potential insider buying and selling following discussions throughout the group a few “BOME rat warehouse” incident.
These allegations led to hypothesis about unethical practices throughout the undertaking because of the unprecedented volatility within the BOME value. In response, Binance swiftly initiated an inside inquiry to handle the state of affairs. In addition, Binance introduced rewards of upto $5 million for tips about the BOME insider buying and selling case.
Also Read: BOOK OF MEME (BOME) Spikes 41.3%: What’s Next?
LBank Announces Book Of Meme 2.0 Listing
Book of Meme 2.0 (BOME2) is about to make its debut on the famend crypto trade LBank. The itemizing is scheduled for 08:00 a.m. on March 23, 2024 UTC, with buying and selling kicking off promptly. Moreover, merchants also can interact in BOME2/USDT spot pairs throughout the MEME Zone, ranging from 08:00 on March 23.
Meanwhile, the graduation of deposits is slated at 06:00 a.m. on March 22, 2024 UTC. This ensures customers have ample time to arrange for the buying and selling frenzy. Withdrawals, then again, shall be enabled from 06:00 a.m. on March 24, 2024 UTC.
However, merchants ought to word an extra transaction charge of three%, on prime of the usual LBank charge, utilized to every transaction. This charge will contribute to supporting the undertaking crew, guaranteeing the sustainability and growth of BOME2. It serves because the second iteration of the famend Book of Meme undertaking, providing a second likelihood for many who missed out on its predecessor.
Also Read: Floki Inu vs BOME: Which Meme Coin Should You Invest In?
The introduced content material might embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.
