- The pre-sale participant took $3.66 million in gains out of a possible $30.2 million.
- Bulls took advantage of sellers’ fatigue, and are attempting to drive the price to $0.030.
- While the market cap dropped to $1.01 billion, volatility remained extreme.
Three days after turning $72,000 to $30.2 million, sundayfunday.sol, the largest presale participant of Solana-based meme coin BOOK OF MEMES (BOME) took some profits. According to Lookonchain, the participants spent 421 SOL to buy 1.43 billion BOME.
After the price pumped and the market cap surpassed $1 billion, he sold 190 million BOME for $3.66 million. As of this writing, the trader still had 1.24 billion BOME, valued at $26.57 million left.
On March 16, Coin Edition reported how the meme coin caught the attention of Binance as the exchange announced the listing of its perpetual contract. Moments later, the price of BOME rallied to $0.0264.
However, a ton of the early investors seemed to have taken profit off the pump. As a result, the meme coin’s price dropped. At press time, CoinMarketCap data showed that BOME changed hands at $0.0198.
BOME Price Prediction
On the 1-hour BOME/USDT chart using TradingView, bulls seemed ready to help the price retest $0.0264. At press time, sellers seem to have been exhausted at $0.0178. Consequently, bulls took advantage of the fatigue and revered the trend upwards.
However, in the build up to $0.0264, BOME might encounter an overhead resistance at $0.0226. A successful breach of this resistance might send the token to $0.030. But if the token experiences rejection at this level, the price might reverse below $0.020.
Furthermore, the Bollinger Bands (BB) showed that volatility around the cryptocurrency remained extreme. A bullish scenario with this kind of volatility might produce another 5x for the meme coin.
In a highly bearish condition, the price of BOME might plunge back to $0.0178. Meanwhile, the Relative Strength Index (RSI) remained above the neutral zone. This indicates that the token still had some bullish momentum left despite the selling pressure it recently experienced.
Despite the recent drawdown, BOOK OF MEMES has remained a top 100 cryptocurrency. At press time, it was ranked number 97 with a market cap of $1.01 billion. The meme coin is the third Solana-based token to rise into the top 100 after Bonk (BONK) and dogwifhat (WIF).
However, both WIF and BONK have experienced major nosedives lately as it seems liquidity from there moved to BOME. In the last 24 hours, WIF’s price decreased by 12.92%. BONK, on the other hand, lost 19.72% of its value.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.