This project has really attracted a lot of attention recently, and our group has even started discussing this meme, which illustrates how crazy the meme market has been lately. Today we will continue to discuss this project, namely BOME, which was launched on the 13th. Yesterday on the 17th, the increase reached 400 times, making its market value break through the US$1 billion mark in one fell swoop. The current price is US$0.017, and the highest price It reached $0.023. We have discussed many meme projects in the past, and have been thinking about who may become the meme king in this bull market, just like the previous wave of SHIB, which rose directly to US$40 billion. Today we will take a look at BOME first, and then analyze who is most likely to stand out in this wave of craze.
Introduction
On March 10, Darkfarms began to preview upcoming projects, and on the 12th, it revealed the project "BOOK OF MEME" and its project concept. According to official documentation, Bome is an experimental project that aims to redefine web3 culture by combining memes, decentralized storage solutions, and shitcoin trading and gambling. The experiment aims to embody the ever-evolving meme culture in a digital compilation, The Book of MEME, ensuring that each piece is permanently recorded on the blockchain. The $BOME meme coin is issued on Solana and uses Arweave and IPFS as the main storage of the "Book of MEME". In the future, it will be expanded to include Bitcoin inscriptions as immutable permanent storage. This initiative aims to promote a new dimension of decentralized social media where memes cannot be blocked. Meme coins on the worst blockchains are linked to this digital book and the metadata associated with the token, and there are more links in the book to images stored on IPFS/ARWEAVE/ONCHAIN, and there is a go A centralized social networking application, meme-making tools, and a CC0 meme clipart collection - all in one meme coin! In short, BOOK OF MEME is a library focused on permanently storing Meme, and will expand a series of Meme creation functions on this basis.
Darkfarms
Darkfarms is an artist specializing in the creation of Pepe Meme graphics. His most famous work is the Pepe-themed NFT series SMOWL, which has about 110,000 fans on Twitter. This series of works was released two years ago, and the issue price at that time was 0.04 ETH. Before BOME became popular, its floor price was about 0.047 ETH, and now it has risen to 0.4 ETH.
development process
On March 13, Darkfarm launched the pre-sale of BOME. Users only need to send SOL to the designated wallet address to participate in the pre-sale. There is no fixed selling price, and the distribution of tokens is determined based on the amount of SOL donated by users. In the final pre-sale, a total of 10,131 SOL were raised, far exceeding Dark’s initial expectation of 500-600 SOL. That afternoon, Darkfarm added all raised SOL to the liquidity pool (RAY), resulting in an initial price of BOME of $0.0000496. There was a large buy order for 100 SOL in the market, making the market highly liquid, causing the price to surge to $0.0012. Within 24 hours, the price increased more than 20 times, with the market cap reaching $80 million. The surge in BOME prices was also affected by the launch of several well-known cryptocurrency exchanges. On March 15, 2024, KuCoin launched the BOME/USDT trading pair, and Gate.io also started trading BOME on the same day. Additionally, Crypto.com has integrated BOME into its platform, enabling users to purchase the token using various fiat currencies such as USD, EUR, GBP, and more. Subsequently, BitMart, MEXC and HTX have also listed the token, further expanding its availability in the market. On the 17th, Binance also launched a 1-50x BOME contract. Currently, BOME’s 24-hour trading volume has exceeded US$6 billion.
Other meme items
POGAI, the once popular "Chinese Dogecoin", has now begun to imitate the pre-sale model. Its limited-time 24-hour pre-sale activity reached the recharge limit in just a few hours, and the coin refund has been completed and opened at 5 pm on the 17th. In addition to POGAI, many meme projects have also followed suit and started pre-sales, such as the meme currency KANG that integrates SocialFi and P2E functions, Byte, a token based on Meme and utility programs (pre-sale started on March 15), MOOLANA (pre-sale started on March 15) and AI concept meme PXP (more than 12 ETH has been raised), etc. Next, what we want to focus on is who is most likely to become the Shib or the Dog in this bull market. Let’s take a look at shib data first. I noticed that the current holders of shib have reached 1.38 million addresses, and 41% of the total tokens have been destroyed so far. In addition, almost 1% of the holders are exchange addresses. Therefore, the holding distribution of Shib is currently quite dispersed. You have to understand that for a meme project to have a market value of US$50 billion, a large number of people must take over.
Next let's take a look at the situation of bome. Current inquiries show that there are only 70,000 people holding BOME, 1% of the currency holding addresses are only 10, and 0.1% of the currency holding addresses are 65. It can be seen that compared with shib, there is a big gap in the number of holders of bome.
Next, let’s take a look at the current rankings of these MEME projects. There are not many MEME projects with a current market value exceeding US$1 billion. The top two are self-explanatory. The third is pepe, with a current market value of US$3 billion (we have discussed it before), and the fourth is wif, with a current market value of US$29. billion US dollars (we also discussed it), and the fifth place is floki, with a current market value of US$2 billion (we also mentioned it).
Let's take a look at pepe first. Currently, Pepe has 180,000 currency-holding addresses. The top five currency-holding addresses all belong to exchanges, and there are only 14 addresses with more than 1% of the tokens, and 78 addresses with more than 0.1% of the tokens. Overall, Pepe’s currency holdings are relatively dispersed.
Let’s take a look at wif again. Currently, the number of wif currency holding addresses is 89,000, of which there are only 8 addresses holding more than 1% of the tokens, and 140 addresses holding more than 0.1% of the tokens. It can be seen that the distribution of WIF currency holdings is relatively dispersed, but there are still a certain number of large households holding it.
For Floki, there are currently 70,000 currency-holding addresses, with only 7 addresses holding more than 1% of the tokens and 65 addresses holding more than 0.1% of the tokens. It can be seen that the distribution of Floki's currency holdings is also relatively dispersed, but compared with other projects, there are relatively few large holders.
Finally, to summarize, judging from the current trends, these three projects are the most likely candidates, because their market value has exceeded US$1 billion, and they are only 50 times away from reaching the goal of US$50 billion. However, from the perspective of the number of currency holders, Pepe clearly has the advantage, with 180,000 currency-holding addresses, and the current market value is also the highest, reaching US$3 billion. It only needs a 15-fold increase to reach the goal, and the current token distribution is relatively dispersed, which means that even if the market value increases by 10 times, the number of currency holders may only need to increase by 2 to 3 times. In addition, this wave of madness in the Meme market is actually good news, because the market value has increased 10 times in just three days, and some projects have even achieved 100 times growth in two days. This kind of news will make more people unfamiliar with cryptocurrency of people are aware of the huge potential of the cryptocurrency industry. This will attract a large number of new people who have left or have not yet entered the cryptocurrency field to enter the market. After they come in, they may first buy Bitcoin, thereby driving up the price of Bitcoin. With the launch of ETF, this wave of market is bound to become more intense. We will wait and see and look forward to more surprises.
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