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The surge of Book of Meme and DogWifCat in the meme coin market signals a renewed frenzy, prompting investors to speculate on their potential future trajectories.
The meme coin mania is back in full swing as Book of Meme jumps 42% today, stoking excitement about a more substantial uptick in the coming weeks.
Meanwhile, the newly launched DogWifCat looks primed to become the next meme coin sensation, soaring 2,367% on its opening day. Is this the next Book of Meme?
Whale buys flood into Book of Meme as price finds support
Book of Meme is regaining momentum after unparalleled success last week.
Currently, BOME is trading at $0.01584, up 42% today, 270% this week, and 1,638% since CoinMarketCap data began on 14 March.
Its market cap is $874 million, and it boasts a $1.6 billion 24-hour trading volume.
Indeed, these are impressive metrics for a week-old meme coin, but a bullish market sentiment indicates a bright future.
Regarding its price action, analyst J.C. Parets noted a potential bottom pattern as BOME bounces from its lows.
Also backing Book of Meme for a reversal, B X highlighted a wedge breakout to the upside. The analyst then predicted a move toward its all-time high (ATH) and then $0.035 in the coming weeks.
Analyst Skatepunzz is also highly bullish. He recently illustrated that BOME has broken from consolidation and will now begin to rise dramatically.
“The mother of all consolidations, when it breaks, anyone still trying to short this will be wiped out. Fade BOME at your own peril,” he wrote.
Just one hour after publishing the tweet, the analyst noted that it broke the trading range and began to climb.
In another tweet, Skatepunzz provided a staggering $5 target. This would represent a 31,465% increase from its current price.
Although this seems unrealistic given its $874 million market cap, it reflects the immensely bullish sentiment surrounding this viral meme coin.
And as market analysts are back BOME for further growth, whales are also getting on board.
Per DEXScreener data, there have been ten on-chain BOME transactions for over 1,000 SOL ($180,000) over the past thirteen hours. Seven of these ten transactions were buy orders, illustrating a growing appetite among high-network players.
However, Book of Meme is not the only crypto to cause a stir.
Another is the newly launched DogWifCat, which pumped by a staggering 2,367% in its opening day and became one of DEXScreener’s most trending new meme coins.
New Meme coin to watch: DogWifCat surges 2,367%
DogWifCat is the latest Solana meme coin to make eye-watering gains.
Yet, with its market cap at $23 million, there remains tremendous room to catch other Solana sensations like BOME, SLERF, or WIF.
The token launched on Wednesday and has already witnessed outsized growth, pumping 2,367% in its opening day and currently trading at a 463% premium from yesterday’s price.
Potential investors will be happy to know that this dog-cat crossbreed crypto has deep liquidity. According to DEXScreener data, the liquidity pool currently holds an impressive $6.4 million, providing ample funds for traders to buy and sell seamlessly.
However, this low-effort approach precisely encapsulates the meme coin zeitgeist that enabled its predecessors to explode.
But similarly to BOME renewed interest, deep-pocketed market participants are rushing into DogWifCat. DEXScreen data shows six orders in the last six hours at over 500 SOL – an impressive feat for such a new meme token.
Yet, with whale interest accelerating and a $23 million market cap, time is running out to buy DWIFC at its current low price.
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