Memecoin project Book of Meme (BOME) has emerged as the latest shining star in the crypto market over the last few days. Following its official launch this week, BOME has attracted much investor interest, acquiring a market cap of $1 billion within 48 hours of trading.

BOME’s sudden emergence can be regarded as a silver lining in the crypto space in the last week amidst Bitcoin’s 4% decline, which resulted in the maiden cryptocurrency falling to around $65,345.14. Meanwhile, Ethereum is also down by 10%, while prominent memecoins Dogecoin and Shiba Inu also recorded losses to the tune of 24.23% and 16.69% over the last seven days.

What Is The Book Of Meme?

The Book of Meme was founded by DarkFarms, the creator of another popular memecoin Pepecoin. BOME functions as an experimental project aimed at incorporating memes, decentralized storage solutions, degen shitcoin trading, and gambling on a single platform in a bid to create a novel web3 experience.

Following a successful presale that raised 10,131 SOL, BOME debuted in the crypto market on March 14 with an initial price of $0.0000496. Over the next two days, Book of Meme swiftly rose to a price region of $0.012 while achieving a market cap value of $1 billion.

Due to the sudden listing by Binance, MEMECOIN BOME rose sharply by 243% in 24h, but other MEMECOINs generally fell sharply, PEPE WIF FLOKI BONK fell by more than 10%. The current market value of BOME has exceeded US$1.38 billion, ranking seventh in MEMECOIN in terms of market…

— Wu Blockchain (@WuBlockchain) March 16, 2024

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Unsurprisingly, BOME’s expeditious rise has earned the coin listings on major crypto platforms, including KuCoin, Gate.io, MEXC, HTX, Crypto.com and Binance. In particular, BOME’s listing on Binance on March 16 is believed to have spurred the token to a 243% price gain within a day, allowing the memecoin to gain a peak market cap of $1.55 billion.

In a similar fashion with other highly successful memecoins, some investors have benefitted the most from BOME’s rise. Data from LookonChain reveals that a certain investor already sold all 347 million BOME for 34,647 SOL valued at $6.58 million, recording a 340x gain on 102 ($19,000) investment at the presale. Meanwhile, the largest BOME holding personal address known as sundayfunday.sol currently holds 1.242 billion BOME, valued at $29.8 million.

BOME Price Overview

At the time of writing, Book of Meme currently trades at $0.02139 with a 58.08% gain on the last day. Meanwhile, the coin’s daily trading volume is up by 125.05% and is valued at $5.18 billion. BOME’s current market cap stands at $1.18 billion, allowing the memecoin to rank as the 85th largest cryptocurrency.