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Book of Memes (BOME) is under pressure, with its price falling at spot rates. Now, focus is shifting onto the viral Slothana Solana meme coin presale.
Volatility has swept into the meme coin market, and despite the whopping $59Bn market cap, established projects like Dogecoin (DOGE) and Book of Meme (BOME) are under pressure. The wider dump across leading coins, especially Bitcoin and Ethereum, has worsened downside moves.
After dominating headlines in Q1 2024, leading the Solana meme coin pack, BOME is now dropping and has failed ever to retest its all-time highs.
$BOME Update
The current pricing trend is exhibiting an ascending pattern following the achievement of our second Take Profit. Notably, the price trajectory has recently progressed beyond an area of equal highs. This development suggests a potential for price liquidation, with a… pic.twitter.com/KhwdhP5ycW
— Crypto Shark (@cryptosharkk555) April 9, 2024
After peaking in March 2024, following its listing on Binance, the token is down 56%, which looks like the state of affairs holders should be accustomed to.
BOME Price Analysis: As BOME Tumbles Is It All Over for Book of Memes?
As of April 10, Book of Memes is changing hands at $0.01285, down -4% from the previous trading day and a whopping -27% from the last trading week alone.
Because of this dump, BOME’s market cap is around $708 million. At the same time, the average trading volume is down -17% to over $409 million in the past 24 hours suggesting reduced market appetite.
Price-wise, BOME is down -56% from all-time highs. Looking at the BOME/USDT price action in the 4HR chart, it is clear that prices are moving horizontally.
Traders can wait for a clear breakout either above $0.0148 or below $0.0124, respectively, to define a trend.
Should bears take charge, BOME might end up reversing the gains of March 16, heaping even more pressure on the meme coin with a target at lower support around $0.01. If this is the case, BOME will lose its allure and slip from its current position as a top Solana meme coin.
Slothana Presale: A Perfectly Positioned Solana Meme Coin
With this outlook, it is no wonder investors are actively searching for the next big thing, and a new contender has emerged: Slothana.
It is a meme coin launching on Solana that actively capitalizes on the current market sentiment. The project has attracted a massive following on X and has been featured in leading crypto-focused YouTube channels like Crypto Gains and Crypto ZEUS.
In the ongoing presale, it has already raised over $10 million. Notably, its unique theme resonates deeply with a generation dissatisfied with traditional work structures.
🎩🌿🦥 I'm going to make them a memecoin they can't refuse🚀 Slothana's making moves to dominate the crypto scene. "Keep your friends close and your memecoins closer" – The Slothfather 💼💰 #Slothana #SlothFather pic.twitter.com/RnPJEan2Bq
— Slothana (@SlothanaCoin) April 10, 2024
Slothana is a meme coin and has no utility. However, as history shows, utility is not a prerequisite in the meme coin scene, given the explosive successes of SLERF and even BOME in the past.
As capital flows to potent alternatives, supporters expect Slothana to continue attracting millions in its presale.
After launching on Raydium, it might replicate and exceed expectations, possibly eclipsing previous successes of leading meme coins on Solana.
If it becomes as popular as BONK and lists on leading exchanges like Binance, Slothana could command a market cap of over $1 billion
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
