Book Of Meme saw a steep decline entering into the top losers list, just a couple of days after being under the top gainers column. According to CoinMarketCap data, BOME is currently trading at $0.009886, down over 7% as compared to the same time last day.
BOME Previous Bull Action Gives 20% Price Surge
Before a decline, Book of Meme (BOME) rose 20% in previous trading sessions, displaying strong bullish indications and the possibility of a rebound. The well-known meme coin Book of Meme (BOME) had started to rise again after a protracted period of falling values, which were indicated by a bearish wedge pattern.
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Following a decline that saw the bears drive the price down to the $0.008126 support zone, the bulls in the BOME price had gathered impetus once again. The bulls were able to push the price above the falling wedge thanks to the double-bottom formation.
However, it looks like the positive trading was short-lived. Despite this, the market had more or less priced in the fall of BOME, with the hope that it will soon see a rise again.
Investors are now wondering if this fall could be a potential "buy-the-dip" opportunity. At present the reason behind BOME's rise is unknown. But, even if the rally's motivations are unknown, it emphasizes how speculative the market is.
Will BOME Rise Again?
Based on recent estimations, the cost of BOOK OF MEME will increase by 228.08% and hit $ 0.031799 in the upcoming month. The Fear & Greed Index is currently reading 47 (Neutral), and technical indicators indicate that attitude towards the token is currently Neutral.
During the previous 30 days, BOOK OF MEME recorded 16/30 (53%) green days and 17.67% price volatility. The overall sentiment for the price prognosis of BOOK OF MEME is neutral, with 13 technical analysis indicators indicating bullish signals and 9 indicating bearish signals, according to analyst data.
Even if the price of Bitcoin has been fluctuating recently, meme coins have witnessed significant rises. In general, the price of BOME has shown a comparable trade configuration with less selling pressure. As a result, aside from the leading memecoins like DOGE & SHIB, PEPE & FLOKI, the recently introduced token appears to have attracted a lot of interest and could. With this perspective in mind, Book Of Meme could soon begin a new bullish phase.
