The post BOME price slides as traders rotate into WEPE presale appeared on BitcoinEthereumNews.com.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Book of Meme, a Solana-based meme coin, sees a 35% monthly price drop, making investors to flock to Wall Street Pepe for potential gains. Book of Meme (BOME), a Solana-based meme coin created by the artist Darkfarms to serve as a digital archive for memes, has experienced a significant price decline during the last month. Its initial promise of a platform where users could create and add new meme coins seems to have lost some of its appeal. The price drop from $0.00818565 a month ago to $0.0053134, representing a decrease of approximately 35%, has likely dampened trader enthusiasm. According to CoinGecko, BOME’s price has declined by approximately 10% in the past week, underperforming both the broader cryptocurrency market, which has seen a slight increase of almost 1%, and similar meme coins, which have experienced an average decline of 6% Declining trading volume and Open Interest for BOME Derivative data also paints a picture of declining interest. According to Coinglass, trading volume has plummeted by 45.6%, indicating a significant decrease in trading activity for BOME options. The declining open interest (OI), which represents the total number of outstanding contracts, also indicates that traders are losing interest in BOME futures. Since Dec. 8, when OI reached $172.92 million, it has steadily declined to its current level of $75.20 million, representing a decrease of approximately 56.5%. This significant drop in OI suggests that traders are reducing their exposure to BOME futures, potentially due to a combination of price declines, profit-taking, and a general loss of confidence in the asset. This could be due to a number of factors, such as disappointing price performance, lack of significant news catalysts, or the emergence…