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Book of Meme, a Solana-based meme coin, is seeing a 35% monthly price drop, leaving investors flocking to Wall Street Baby for potential gains.
Book of Meme (BOME), a Solana-based meme coin created by artist Darkfarms to serve as a digital archive of memes, has seen a significant price drop over the past month.
Its initial promise of a platform where users can create and add new meme coins appears to have lost some of its appeal. The price drop from $0.00818565 a month ago to $0.0053134, representing a decline of approximately 35%, likely dampened traders' enthusiasm.
According to CoinGecko, the price of BOME has fallen approximately 10% in the past week, underperforming the broader cryptocurrency market, which saw a slight increase of approximately 1%, and similar memecoins, which saw an average decline of 6%.
Low trading volume and open interest for BOME
The derived data also paints a picture of declining interest.
According to Coinglass, trading volume fell by 45.6%, indicating a significant decline in trading activity for BOME options.
A decline in open interest (OI), which represents the total number of contracts outstanding, also indicates that traders are losing interest Trees Futures contracts.
Since December 8, when the total investment reached $172.92 million, it has steadily declined to its current level of $75.20 million, representing a decline of approximately 56.5%. This significant drop in OI suggests that traders are reducing their exposure to BOME futures, perhaps due to a combination of falling prices, profit taking and a general loss of confidence in the asset.
This may be due to a number of factors, such as disappointing price performance, a lack of important news catalysts, or the emergence of more attractive investment opportunities elsewhere.
The account long/short ratio, which reveals the ratio of accounts holding long (bullish) positions to those holding short (bearish) positions, also shows a bearish bias, according to Coinglass data. This indicates that a greater number of accounts are anticipating or betting on a further decline in prices.
Traders move into pre-sale on Wall Street Baby
While BOME struggles, Wall Street Call (WEPE)a new meme coin Ethereum Which promotes financial empowerment and community growth, has emerged as a potential contender.
Unlike typical meme coins, Wall Street Baby aims to combine entertainment with practical value. Its unique selling point is its ability to serve not only as a fun and quirky digital asset but also as a gateway to a thriving trading community. WEPE is more than just a token; It's a passport to a new community, wrapped in the appeal of a viral meme.
The project's primary focus is to empower small investors who are often overlooked in traditional finance. By promoting transparency and providing accessible trading knowledge, Wall Street Baby aims to create a platform where everyone can participate.
Token holders enjoy exclusive benefits, such as access to in-depth market reports, weekly trading strategies or alpha tips. The ecosystem also features a reward system that incentivizes active participation. Traders who consistently achieve positive results are rewarded with additional WEPE tokens.
This community-based approach has proven to be very attractive to investors, as evidenced by the successful pre-sale, which has already raised $48.5 million.
WEPE symbols
Wall Street Baby operates on a well-designed token economic model created to drive growth and actively engage the community.
Of the total 200 billion WEPE tokens, 20% has been allocated to the FROG Fund, providing an early investment opportunity for pre-sale participants.
Another large portion, 12%, is reserved for staking rewards, allowing holders to earn passive income by locking their tokens. 38% was allocated to marketing efforts, ensuring the project's continued growth and expansion. The remaining tokens are allocated to liquidity (15%) and trading rewards (15%).
WEPE tokens can be easily purchased using ETH, USDT, or credit card via official Website. Early investors benefit from tiered pricing structures, allowing them to capture profits.
For more information, visit WEPE pre-sale site.
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