bome’s current market value is around 633 million.
Let's talk about what you guys are concerned about. When will it be like Pepe in February and March this year, with a 10-fold increase?
It has been 8 months since the opening of Binance. In these 8 months, you can carefully observe whether the daily and weekly lines of BOME are almost the same as the trend of pepe after the opening of Binance. The only difference is that the time may be a little different. For more than a month, it has been a shock and clean-up. It is necessary to clean up the profit-taking in the three days before listing on Binance and reach a new price consensus.
Why do I compare these two? Because their market making techniques do have many similarities.
Looking back at the listing of pepe on Binance, the washout, and the subsequent surge, it basically followed the pace of BTC. The same is true for bome now. When BTC falls, bome also falls; when BTC rises, bome also rises. So this is why I said before that we should learn to improve our understanding of BTC. Because we all look at the face of the big pancake.
Then those who bought the previous low point of bome, 0.0052～0.0060, must be happy, because it has risen now. Those who didn’t buy it will definitely ask whether it will reach this range or even lower in the future.
As I said before, it depends on the mood of the market. Will BTC fall further in the future? As I said in my previous article, the sentiment in October is still good, because during the interest rate cut period, I have answered the impact of the interest rate cut on the market before. This affects the sentiment. As for the impact on money, everyone just needs to pay attention to the ETF data and capital inflow.
The biggest black swan is the US economic recession combined with other events that affect panic. It may bring about drastic market fluctuations. Of course, it is unpredictable at present, so we have to pay attention. If panic spreads at that time, ETFs cannot cover the bottom, and the liquidity of funds cannot keep up with BTC, then BOME will usher in a return to value again.
After talking about the possible bottom, let's talk about when it will rise? For example, pepe will rise more than 10 times. Some friends here must say, now, isn't it rising now? Indeed, it is rising, so will it be like pepe 10 times before? No matter whether I say it will or not, you may not believe it.
We only look at one thing, that is, trading volume. Trading volume cannot deceive people. Generally, the daily trading volume increases and breaks through the previous decline. It will not stop soon, but will start naturally. That is the real rise.
You can look at the performance of the trading volume when Pepe's stock price increased tenfold, and then compare it with the current Bome. It will be clear at a glance.
In addition to trading volume, we also need the sentiment brought by the rise of BTC. Yes, isn’t BTC rising now? The sentiment is very good. If I say a 10-fold rise, the sentiment brought by the new high of BTC is needed. Now it can only be regarded as a wide range of fluctuations. After all, the trading volume is clear at a glance. The most practical and reliable thing is that the trading volume cannot deceive people. If the volume shrinks and rises, it will not be sustainable.
Of course, if these conditions are met later, the mood is good, the chips are cleaned up, and the daily level also ushered in a large-scale rise, can it rise more than 10 times as expected like Pepe? This is unpredictable, after all, I am not a market maker. Whether it can rise or how much it will rise, no one knows, we can only pay attention to the current market sentiment, trading volume, funds, etc. at that time to make a judgment.
The only thing that can be used as a reference for the same track is that in March when BTC was above 70,000, the highest circulating market value of the meme sector rose to over 5 billion, such as wif; pepe 7 billion; floki just over 3 billion. Bonk is around 3 billion, etc. You can pay attention to these ceilings.
