bullish

Solana

BOOK OF MEME

Read

MEME

<p>The price of BOOK OF MEME (BOME) has experienced an increase of over 8% in the past 24 hours. This surge could be attributed to the rising price of Solana, which is currently witnessing a steady upward trend.</p>
<p>The positive momentum in Solana appears to be influencing some tokens within teh SOL ecosystem, including BOME.</p>
<h2 class="wp-block-heading" id="bome-price-continuation-following-breakout-from-descending-channel">BOME Price Continuation Following Breakout from Descending Channel&nbsp;</h2>
<p>A closer examination of the technical indicators reveals additional reasons for BOME’s bullish momentum.</p>
<p>The most significant aspect of <a href="https://www.coingecko.com/en/coins/book-of-meme" target="_blank" rel="noopener noreferrer nofollow">BOME’s recent price movement i</a>s the breakout from a descending trendline that had been established from the highs recorded in June. This breakthrough typically signals a potential transition from a bearish to a bullish trend. As the downward pressure eases, renewed buying interest has emerged.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/how-much-will-10000-kaspa-kas-tokens-be-worth-at-the-peak-of-the-bull-run/" target="_blank" rel="noopener noreferrer nofollow">How Much Will $10,000 Kaspa (KAS) Tokens Be Worth at the Peak of the Bull Run?</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="480" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-1024x480.png" alt="" class="wp-image-571582" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-1024x480.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-300x141.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-768x360.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-1536x720.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-2048x960.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-320x150.png 320w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-746x350.png 746w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904-788x369.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-904.png 1802w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The chart also highlights a shaded gray area representing a previous support level that had turned into resistance. Following the trendline breakout, BOME has successfully reclaimed this crucial level, converting it back into support. This reclaim suggests bullish momentum, indicating that buyers are willing to engage at higher price levels.</p>
<p>The 50-day <a href="https://goodcrypto.app/moving-averages-sma-ema-wma-a-complete-guide-for-traders-explained-by-good-crypto/" target="_blank" rel="noopener noreferrer nofollow">simple moving average (SMA),</a> depicted by a blue line, is currently trending below the price, serving as a support level. BOME has consistently remained above this moving average, reinforcing the prevailing bullish sentiment.</p>
<p>Additionally, the 200-day SMA, represented by a yellow line, is positioned near current price levels. BOME’s recent crossover above this indicator is another bullish signal, suggesting a potential trend reversal if maintained.</p>
<p><strong><em>Read Also:<a href="https://captainaltcoin.com/dogecoin-price-hits-final-bottom-technical-analysis-suggests-doge-could-surpass-10-this-cycle/" target="_blank" rel="noopener noreferrer nofollow"> Dogecoin Price Hits ‘Final Bottom’: Technical Analysis Suggests DOGE Could Surpass $10 This Cycle</a></em></strong></p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>The recent price action reflects strong upward momentum over the past few days, with BOME closing above both the moving averages and previous resistance levels. This price pump may be attributed to sustained buying interest following these technical breakouts, indicating that buyers are firmly in control.</p>
<p>Following the breakout from the trendline and the successful reclaim of the support zone, BOME has shown stability in its consolidation above these key levels. This consolidation implies further upside potential, contributing to the bullish continuation observed today.</p>
<h2 class="wp-block-heading" id="rising-on-chain-metrics">Rising On-Chain Metrics</h2>
<p>In addition to the technical factors, on-chain metrics also point towards a positive trend for BOME. Observations <a href="https://x.com/CryptoCatz_X/status/1849093584764522945?t=XqOygRNUBGIXSEpNHhci8w&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Crypto Catz indicates </a>a shift of on-chain funds from fast-moving new meme coins to more robust, high-potential tokens with larger holder bases.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="427" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-1024x427.png" alt="" class="wp-image-571574" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-1024x427.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-300x125.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-768x320.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-1536x640.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-2048x853.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-360x150.png 360w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-100x42.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-840x350.png 840w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903-788x328.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-903.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>BOME has seen consistent net inflows over the past 24 hours, accompanied by a surge in trading volume. Analysts are suggesting that a breakout is imminent, particularly as the price approaches the $0.0115 mark.</p>
<p>In summary, the recent price increase of BOME can be attributed to a combination of technical breakouts, reclaiming key support levels, and favorable on-chain metrics. These factors suggest that BOME may have entered a bullish phase, attracting increased interest from buyers.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-book-of-meme-bome-price-going-up-today/" rel="noopener noreferrer nofollow">Why Is BOOK OF MEME (BOME) Price Going Up Today?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is BOOK OF MEME (BOME) Price Going Up Today?

Table of Contents

CaptainAltcoin

Other articles published on Oct 24, 2024

Near token could surge 225%, crypto analyst predicts

Market Trends Influence Major Cryptocurrencies

Ethereum ‘Verge’ upgrade to enable nodes on phones and smartwatches

Weekly Article Recap: 10/14-10/18

Ancient Bitcoin Whale from 2009 Cannot Stop Selling

Orange County Investors: How You Can Profit from Online Markets

Join our free newsletter for daily crypto updates!