The Book Of Meme price has soared 18% in the last 24 hours to trade at 0.01037 as of 6:45 a.m. EST, fueled by a 25% surge in trading volume to $1.13 billion.
The recent price surge comes amid an ongoing debate about whether meme coins are headed for a supercycle.
Book Of Meme Price Breaks Above The Rounded Bottom
The BOME/USD pair shows a strong uptrend, fueled by the rounded bottom pattern- a bullish reversal formation that helps change the course from a downtrend to an uptrend.
The neckline of this pattern is placed around $0.008012, which was a major resistance before it was broken and a sharp upward movement took place.
BOMEUSD Analysis Source: Dextools.io
A moving average cross can be noticed: a 50-period SMA prevailing at $0.00719040 crosses over a 200-period SMA that was at $0.00681869. Therefore, the “golden cross” could not have been more classic as a signal of verified upward momentum.
The surge price after the crossover reflects the strong bullish sentiment. Presently, the price is at $0.01044, slightly correcting 2.35% on the day. The overall bias is bullish, with a possible higher continuation. The chart projection shows that the price might aim higher, above $0.01100, very soon.
Book Of Meme Price Could Face A Short Term Correction
From a technical indicator perspective, the MACD shows a bullish crossover above the signal line, indicating extra momentum upwards. The histogram is also showing great buying pressure. The MACD line is at 0.00027721, while the signal line is 0.00075251, further reinforcing the bullish scenario.
The Relative Strength Index (RSI) is at 77.99, indicating overbought territory. RSI indicates that the pressure to buy the security is very strong, which normally means the price could briefly retreat or consolidate before a further push upward. The price is considerably above both the 50-day and 200-day moving averages, further supporting the continuation of the upside cycle.
The price will probably continue its upward movement, with a possible target at around $0.01100 – $0.01200. However, an overbought RSI can push the price for some consolidation or slight pullback before further gains take it upwards.
Support levels are well in place, around $0.00719040 (50 SMA) and $0.00681869 (200 SMA), providing good support for the prevailing uptrend.
Pepe Unchained Barrels Towards $20M In Presale: Next Crypto To Explode?
As the Book of Meme price price surges, the new layer 2 meme coin Pepe Unchained(PEPU) has roared past $19.7 million in funds raised in its presale.
Popular YouTuber Clay Bro, with over 130k subscribers, says that PEPU is already being compared to Pepe (PEPE), the third-largest meme coin with a market capitalization of $4.27 billion.
Pepe Unchained is designed to be the new, upgraded version of PEPE, and because of that it comes with its own layer 2 blockchain called Pepe Chain.
Pepe Chain is designed to be faster and more cost-efficient than the old, clunky, Ethereum blockchain that Pepe relies on. It can process transactions up to 100 times quicker while significantly reducing gas fees.
But it remains fully compatible with existing Ethereum decentralized applications (dApps) and services, giving it the best of both worlds.
`Frens with Benefits’ Developer Grants
The project recently rolled out a developer grant program called ”Frens with Benefits” that is designed to support and grow its ecosystem. The initiative is focused on attracting fresh talent and boosting dApp development on the Pepe Chain.
Investors can also stake $PEPU tokens for an annual return of 112%. More than 1.4 billion PEPE tokens have already been staked.
You can join the presale by buying $PEPU tokens for $0.00999 using $ETH, $USDT, $BNB, or a bank card. But to lock in that rate you will have to buy before a price hike in less than 2 days.
Buy PEPU tokens on the official website here.
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