BOME Drives Solana Meme Coin's Recovery Amid ETF Speculation, Experiencing a Price Surge in the Past 48 Hours. Similarly, the New $PEPU Meme Token Has Raised $1.5 Million in Its Presale.

Aside from BOME, other Solana-based meme coins saw a slight increase despite the bearish market trend and the decline in meme coins. This ETF’s potential has increased optimism within Solana’s ecosystem, resulting in higher trading volumes for its associated meme coins.

Solana meme coin booms 70% on ETF hopes, as new Pepe token sells out in hours

Solana's native meme coin, BOOK OF MEME (BOME), has surged over 70% in the past two days amid speculation over a new exchange-traded fund (ETF) covering the top meme coins.

Meanwhile, a new meme coin, Pepe Unchained (PEPU), has raised over $1.5 million in its presale, promising a dedicated Layer 2 chain for meme coins.

Solana's meme coin, BOME, has soared in recent days, fueled by news of an upcoming ETF covering the top meme coins. This surge has also highlighted increasing optimism within Solana's ecosystem, driving higher trading volumes for its associated meme coins.

Another meme coin making waves is the new Pepe Unchained, which has generated significant hype by surpassing $1.5 million in its presale.

Since many of you have been closely following the BOME and $PEPU projects, it’s time to provide a quick update on recent developments and future possibilities.

BOME price analysis by Cilinix Crypto

BOME has displayed bullish signs recently, particularly with a strong breakout two days ago on the 12-hour time frame. This breakout occurred above key resistance levels at $0.0098 and the psychological barrier of $0.01.

Previously, BOME was in a downtrend, but it formed a bullish pattern with a double bottom and a bullish divergence on the RSI, suggesting a potential reversal. The 4-hour time frame offers a closer look at the breakout and potential entry points.

The breakout zone coincides with a confluence of support levels: the psychological support at $0.01, the trend line, and the 0.236 Fibonacci retracement level of the recent decline. Several EMAs (100, 28, and 50) also converge around this area, further strengthening this support zone.

While these technical indicators paint a bullish picture, caution is necessary. The broader market, especially Bitcoin’s price currently below $62,200 (a key resistance level), might hinder a strong BOME rally.

Therefore, entering a trade around the support zone with a target of 3:2 or 2:1 Fibonacci levels might seem attractive, but waiting for confirmation is crucial.

BOME price prediction

Despite a bearish start in the last 24 hours, BOOK OF MEME (BOME) reversed course after news of a filing (details of the filing not mentioned here for brevity). This surge propelled BOME to the top gainer spot on CoinMarketCap, reaching a 7-day high of $0.01073.

The price action has been volatile, with BOME fluctuating between $0.01073 (intra-day high) and $0.00901 (intra-day low). At the time of writing, BOME sits at $0.0097, reflecting a 5% increase from its 24-hour low.

The recent rally saw a surge in both market capitalization (up 16% to $736,722,054) and 24-hour trading volume (up 124% to $179,342,372).

However, it’s important to consider BOME’s historical price range. It reached its all-time high of $0.028 on March 16, 2024, but also dipped to a low of $0.00085 just two days prior. Since then, the lowest price recorded was $0.007192, while the highest was $0.015846.

The Fear & Greed Index currently shows a neutral score of 47 for BOME, suggesting reasons to be cautiously optimistic about its potential price rise in July.

Firstly, BOME has exhibited strong performance recently, with 16 positive daily gains out of the last 30 (53% win rate). This consistent upward movement suggests healthy demand and investor confidence in the project.

Secondly, BOME’s high liquidity is evident from its substantial market capitalization of over $670,000 and robust 24-hour trading volume of around $87,000. This indicates the coin is actively traded and can handle large transactions without major price fluctuations.

These factors combined suggest a positive market outlook for BOME. However, it’s important to remember the recent volatility and the coin’s distance from its all-time high.

Further developments related to the filing and broader market trends will likely influence BOME’s price trajectory in July. You can explore our guide here for more information on the top altcoins.

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