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After recording a bearish weekend, the bearish influence over the crypto markets escalated. With the huge drop in the S&P 500, the crypto markets also slashed, wiping out over $200 billion. The major tokens like Bitcoin, Ethereum, and Solana faced huge pullbacks, forming fresh bottoms.
The cryptocurrency market is beginning February with an interesting tone, as traders and investors proceed with caution. The global market capitalization is standing at $3.21 trillion, after declining by 0.08% in the past day.
For meme coin projects, 2024 was a year of tremendous volatility, characterized by sharp declines, quick expansion, and well-publicized scandals.
This year was filled with wins and woes for meme coin investors and enthusiasts alike. From shocking rug pulls to the rise of AI-driven meme coins, these tokens did not disappoint in fulfilling this volatile crypto market's high-risk, high-reward profile.
Binance, a leading crypto exchange, has informed the delisting of spot trading pairs for several tokens, sparking speculations. The tokens are Fusionist (ACE), AC Milan Fan Token (ACM), Book of Meme (BOME), Dymension (DYM), Metal DAO (MTL), Pixels (PIXEL), QuarkChain (QKC), Radworks (RAD), and Renzo (REZ).
In the current downtrend, the market is already in fear, and with rumors of newer policies taking a backseat adjusting investment portfolio is quite a big task. Bitcoin dropped from its $100K mark creating doubts in investors' minds.
With the hype growing around memes, here are the top 10 Memecoins to watch this November 2024, being the top 10 memecoins of October 2024 by monthly performance.
BOME's volatile week hints at bullish patterns—will it break out or retest support levels?
Meme coins have created a separate category for themselves in 2024, courtesy of their mainstream following and performance in the crypto world.
The global digital assets industry witnessed another instance of rug pull as an insider sold around 50% of the total supply, bringing the project down. ZachXBT even claims that he leaked the new cabal memecoin deck before they rugged investors.
Market indicators suggest that BOME is losing momentum, and a pullback before attempting another uptrend is imminent.
The popular Solana-based meme coin, Book of Meme (BOME) has successfully retested its breakout level and is now poised for a notable upside rally. With this, the meme coin appears bullish and further gets support from on-chain metrics such as open interest, long/short ratio, and others.
Book of Meme surged in the past 24 hours as meme coins led the crypto market rally on Oct. 18. Following Bitcoin's (BTC) impressive rise above $68k, meme coins have taken the spotlight. Dogecoin (DOGE) jumped 10%, reaching an 11-week high, while other dog-themed tokens like Brett, Bonk, and Popcat also saw significant gains.
As the BTC price reclaims the $68,000 mark during the early Asian trading hours, the memecoin market has added 3.68% to its valuation to $57.67 billion. Among the top gainers are DOGE, FLOKI, BOME, and SHIB.
In the last week, meme coins have experienced a renewed wave of investor interest as the crypto market rebounded. Notably, several coins saw significant gains, and a few also reached new all-time highs.
An analyst known for making timely altcoin calls thinks that a massive trend reversal is underway for an under-the-radar meme token. Pseudonymous crypto strategist Bluntz tells his 283,700 followers on the social media platform X that Book of Meme (BOME) looks bullish after breaking out of its accumulation range in a big way.
BOME tops liquidation charts with $194M in Open Interest, driving volatility and speculative trading.
The open interest for Solana meme coin BOME has reached an all-time high of $161.97 million, signaling that traders are increasing their positions.
The crypto market sentiments appear to have flipped in favour of the bulls the traders have displayed some confidence. Besides, the volume remains restricted below $100 billion, which suggests a large chunk of them remain uncertain of the upcoming trend. Meanwhile, the memecoins have gained significant attention, mostly the newly launched ones.
As the Bitcoin Open interest across all exchanges hits a new all-time high at $19.75B, the crypto market is ready for a bull run. As the market sentiments improve, the meme coins are leading the way with massive growth. Wondering which meme coin to buy as FOMO kicks in? Worry not.
The price of Book of Meme (BOME) has been soaring, with a huge 60% increase in just the last 30 days.
For the first time since July, Book of Meme's (BOME) price has hit $0.011. This happened after the Solana meme coin price jumped by 62% in the last seven days.
Memecoins made full use of the return of bullish sentiment on Monday, with the less established ones topping the biggest market gainers list. What happened: Solana (CRYPTO: SOL)-based BOOK OF MEME pumped over 28% to become the best-performing cryptocurrency in the last 24 hours.
Solana meme coins are rising in dominance, challenging those minted on Ethereum and even the first of them all, Dogecoin. While Dogecoin is the most valuable, it increasingly faces stiff competition from Pepe and Shiba Inu.
