BOME burst onto the meme coin scene in March 2024 and has quickly captured the crypto space’s attention. Here’s an introduction to the project and the potential of its coin.
Key Takeaways:
- BOOK OF MEME (BOME) emerged in March 2024, experiencing a remarkable 3,000% surge in value shortly after its launch.
- Created by Darkfarms, the artist behind Pepe, BOME aims to establish a permanent storage library for meme coins using Arweave, IPFS, and inscriptions, while also functioning as a social platform for cross-chain storage.
- BOME operates on Solana, and Arweave with IPFS, fostering decentralised social media and offering tools for meme creation and sharing.
- With a capped total supply of 69,000,000,420 BOME, the project garnered substantial attention during its presale and has since seen considerable price appreciation, reaching an all-time high (ATH) of $0.02689 on 16 March 2024.
What Is BOOK OF MEME (BOME)?
BOOK OF MEME (BOME) recently emerged as a groundbreaking meme coin within the cryptocurrency market, with a 3,000% surge in value within days of its inception on 10 March 2024.
The BOME token was created by Darkfarms, the artist behind Pepe memes, with the aim of establishing a permanent storage library solution for meme coins. The project uses Arweave, InterPlanetary File System (IPFS), and inscriptions for data storage, and it doubles as a social platform for cross-chain storage.
The surge in BOME’s value can be attributed to the recent excitement surrounding meme coins, as well as the listing announcements by major exchanges, including Crypto.com, which boosted its popularity and accessibility.
How Does BOOK OF MEME Work? Does It Have Any Utility?
On the official site, BOOK OF MEME is described as an experimental project aiming to capture the ever-evolving meme culture and ensure each meme is permanently stored on the blockchain. According to Darkfarms, the initiative “aims to foster a new dimension of decentralised social media, and make memes unstoppable.”
The BOME meme coin runs on the Solana blockchain, with Arweave and IPFS as the primary storage technology — with future expansion plans to Bitcoin inscriptions for immutable storage.
BOOK OF MEME Features
BOOK OF MEME is an updatable digital book connected with metadata to the BOME token. The book also contains links to user-shared images stored on IPFS, Arweave, or on-chain. In addition, it provides tools for users to create memes and establishes a meme clipart gallery for the community to use and share.
Potentially in the future, with the collection of more memes, BOOK OF MEME may develop into a decentralised social network or explore other areas (for example, meme games).
BOOK OF MEME Tokenomics
The total supply of BOME is capped at 69,000,000,420. The initial planned token distribution includes: 50% presale, 20% locked up in a community fund that will unlock three months after launch, and 30% designated for liquidity pools.
BOOK OF MEME was introduced on 10 March, going on presale on 13 March. The presale was announced on the BOOK OF MEME site and open to anyone who sent SOL tokens to an address listed on the site.
Unlike many other token presales, there was no fixed price. Instead, the token allocation was determined depending on the percentage contribution of SOL by each participant. The presale outcome exceeded Darkfarms’s expectations of 500-600 SOL tokens.
Why Is BOME So Successful?
The success of meme coins like BOME can be attributed to the viral and engaging nature of meme-based cryptocurrencies. These coins are designed to capture the attention of enthusiastic online communities, often drawing inspiration from characters, individuals, animals, or artwork that can be mimicked — in this case, BOOK OF MEME represents a whole catalogue of popular memes that have achieved cult popularity in the crypto space.
Additionally, the low cost of entry and potential for substantial gains make meme coins attractive to many, despite their high volatility and speculative nature. In BOME’s case, another factor is also at play: the creator is not only doxxed but also a famous internet artist. Darkfarms has created some of the most popular memes in the space, including Pepe memes, which made this meme coin project very attractive.
How Much Will BOME Be in 2024?
BOOK OF MEME has had spectacular price appreciation in 2024, with an all-time high (ATH) of $0.02689 on 16 March 2024.
At the time of writing, BOME trades for $0.01263, up over 21,500% from its launch price. However, no one can say for sure what BOME’s price will be in the future.
Conclusion — Should You Buy BOME?
In less than a month, BOOK OF MEME became one of the most talked about meme coins in the space, quickly attaining impressive price increases.
However, keep in mind that this meme coin is a speculative asset with little utility. Its highly volatile price depends entirely on popularity. While it is the volatility of meme coins that may attract many to this narrative, as it offers the opportunity for incredible gains, this also means the price can drop just as suddenly.
BOME can be acquired through platforms like Crypto.com, Binance, Bybit, OKX, Bitget, KuCoin… offering easy access for users to trade it with various fiat currencies and other cryptocurrencies, though it remains a speculative asset with volatile pricing dependent on its popularity within the meme community.
