There was a correction in the cryptocurrency market as a whole. As a result, solana and meme coins have experienced some declines despite performing extremely well so far.
At the time of writing, BOME’s price has experienced a major correction of 50%. On the other hand, Solana’s cost dropped by 10% to $185.
BOME Price Saw Huge Selling Over the Counter
After a great bull run, BOME The price has dropped by 50% in the last 24 hours. For this reason, it seems to have entered a sharp correction. BOME is currently trading at $0.009813. Additionally, it has a market size of $541 million at the time of writing this news.
right now this cryptocurrency There is a daily trading volume of $2,367,455,325 for the unit. This makes it the 11th most traded cryptocurrency.
BOME’s price corrected 55% from its weekly high of $0.026. However, it is still trading with a significant 1000% gain on the weekly chart.
A significant portion of the sales are made by sundayfundday.sol, BOME’s personal holding address. The largest holder of BOME tokens once again sold 340 million BOME tokens, earning 18,660 SOL.
This transaction took place within the last 9 hours. The company made a profit of $3.62 million by selling tokens at an average price of $0.0107 per token.
As a result of the massive drop in the cost of BOME tokens, the holder’s assets have dropped to $8.38 million, despite holding 900 million tokens.
Santiment, an on-chain analytics resource, reports that BOME and Solana are currently the assets gaining the most online attention across various social media platforms.
Their recent great success in the markets is partly responsible for the increased interest they have received. According to the community, Solana and other meme coins are seen as reliable alternatives to Ethereum-based projects.
BOME Price Analysis
There is another important factor contributing to the correction in the BOME price. This was the significant pullback that occurred in the cryptocurrency market as a whole in the days leading up to the FOMC meeting.
Additionally, there have been reports of BOME insider trading on Binance.
The cryptocurrency exchange claimed that it was actively addressing these concerns and would appreciate any supporting evidence. On the other hand, other meme coins also witnessed major declines. PEPE, WIF, FLOKI, BONK, and others all dropped nearly 20% in 24 hours.
Indeed, the increase in trading of meme coins benefited Solana. According to Token Terminal, Solana’s fee earnings rose to $17.8 million last week, surpassing Bitcoin’s $17.5 million.
This is because on-chain trading of increasingly popular memecoins continues to increase. For three consecutive days, Solana’s daily wage earnings consistently exceeded $3 million, reaching an all-time high.
