🌎 BOME Meme Coin Surges 25% Reaching Two-Month High

BOME: The Third-Largest Meme Coin Surges Sharply on October 14

The Book of Meme (BOME), a Solana-based meme coin, experienced a remarkable rise of over 25% in the last 24 hours, reaching $0.008841, its highest level in two months. This surge has propelled BOME’s market cap to $610 million, making it the 131st-largest digital asset. The daily trading volume also spiked by over 195%, hitting $928 million, with most activity concentrated on Binance, followed by Gate.io and Bitget.

Futures Open Interest Hits Record Highs

Simultaneously, futures open interest saw a significant increase. Data from CoinGlass shows that open interest in BOME futures reached a record $131.12 million, more than doubling from last week’s low of $57 million.

Broader Market Upswing

This rally occurred alongside a broader market upswing, with Bitcoin and other altcoins experiencing sharp price increases. The global crypto market grew by 2.6%, rising from $2.27 trillion to $2.33 trillion. According to CoinGlass, this surge led to $167.2 million in liquidations, with $101.6 million coming from short traders. Many investors were caught off guard by the bullish momentum, having bet against the rising prices. The sudden surge in liquidations likely contributed to the upward pressure on prices as short positions were forced to close, further fueling the market’s rally.

Community Sentiment and Market Predictions

Community sentiment around BOME remains bullish, with 71% of 3,792 traders on CoinMarketCap expecting short-term price gains. Similarly, sentiment on social media has turned positive, with several analysts and traders predicting strong upward momentum for altcoins.

According to pseudo-anonymous trader Bluntz, BOME had successfully broken through a key daily resistance level of $0.0085, which it had struggled to overcome since August 24. He anticipates further upward movement for the meme coin, supported by a significant increase in daily trading volume and Bitcoin’s recent upward momentum.

Another trader noted that BOME had broken out of a falling wedge on the 1-day chart, a bullish indicator. This suggests that the meme coin could potentially retest 80%-120% above its current price levels.

Global Meme Coin Market Surge

BOME’s rally coincided with a surge in the global meme coin market, which increased by 1.4% over the last 24 hours. The combined market cap of all tracked meme tokens now exceeds $57.6 billion.

In an October 11 post on social media, analyst Moustache predicted that the altcoin market is nearing an “up-only season,” citing the Altcoin Season Index, which has been developing an Inverse Head and Shoulders pattern—one of the most bullish formations in technical analysis—over the last 3.5 years. This often precedes a major breakout, suggesting altcoins may soon enter a sustained rally, reversing years of stagnation and downward pressure.