BOME, or Book of Meme, rose over 22% on Monday, being one of the top gainers for the day. At press time, the coin is trading at $0.01029, up over 13% from the same time last day.
Interestingly, thanks to its rapid growth, BOME has recorded higher gain percentages than several well-known meme tokens, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE).
Additionally, at $293.97 million, the trade volume for the token has jumped by over 150%. BOME has seen a significant surge in interest and investment as the price and trading volume increase. Book of Meme has seen rapid growth this past week, being in the green territory for most of the time. Therefore, the rise has made investors question whether it will hit the essential $0.02 level in the future.
BOOK OF MEME price predictions
With the current growth, market participants are hopeful about BOME’s future trajectory. Based on recent estimations, the price of BOOK OF MEME will increase by 225.99% and hit $ 0.033105 in the coming month.
Other technical indicators indicate that the current mood for the coin is bullish, and the Fear & Greed Index is currently reading 74 (Greed). During the previous 30 days, BOOK OF MEME recorded 16/30 (53%) green days and 9.46% price volatility.
Data also indicates a bullish general sentiment regarding the price prediction of BOOK OF MEME, with 17 technical analysis indicators indicating bullish signals and 2 indicating bearish signals.
BOME to see bullish cues for the coming week
Most analytical parameters show that BOME is currently in a safe zone. The coin’s Relative Strength Index (RSI) and the 50-day Exponential Moving Average (50 EMA) are flashing bullish signs, which adds to the optimistic picture. The 50 EMA is below the price, a traditional sign of an upward trend. Meanwhile, the RSI is over 50, indicating that traders are optimistic.
It is possible that BOME might find strong support at $0.01036, and possibly developing buying pressure could allow Book of Meme to resume its upward trajectory inside the defined channel. Additionally, watching the immediate resistance level at $0.01050 will be important, as a break above it would indicate additional upward momentum.
