The price of a new memecoin on Solana called Book of Meme (BOME), created by the artist Darkfarms, increased 20 times in three hours. The market capitalization of the token has exceeded $400 million.
The Book of Meme presale started on March 13th. To receive tokens, presale participants had to send any amount of Solana (SOL) to the specified address.
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Memcoin on Solana soared in price
BOME quickly gained popularity in the Chinese-British community. During the pre-sale, 10,131 SOL were collected, which significantly exceeded Darkfarms’ expectations of 500-600 SOL. The overwhelming response led to a subsequent community vote on how to allocate presale funds.
Darkfarms pooled the funds raised into a liquidity pool, setting the initial BOME price at $0.0000496. Large buy orders of 100 SOL or more created a highly liquid market, which led to an increase in the rate to $0.0012.
Following the surge in interest in BOME, several exchanges, including BitMart and HTX, have said they will list the asset. Later Bitmart confirmed primary listing of altcoin paired with USDT.
BOME/USD price chart. Source: CoinGecko
Book of Meme includes an updated e-zine, a meme tool, and an extensive JPEG library. The project uses Arweave, IPFS and inscriptions to store data. Going forward, Darkfarms plans to use a single NFT to aggregate all content related to a specific meme.
The growth of BOME coincided with the rise of the memecoin sector, whose capitalization recently exceeded $40 billion. However, the surge of interest in meme coins on Solana also attracted attackers. BlockAid, a blockchain security company, two months ago reported scams targeting Solana users through wallet draining attacks.
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2024-03-16 09:04:00
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