MEME Coins
The BOME Meme Coin: Explained
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In Brief
Discover everything you need to know about the BOME meme coin. Learn about its origins, how it grew to popularity and how to manage it using Trust Wallet.
Book of Meme (BOME) has gained widespread attention from crypto enthusiasts since its launch on March 14, 2024. The Solana-based meme coin experienced a massive surge, and in only two days after its launch, BOME managed to exceed a market cap of $1 billion. But what exactly is the Book of Meme crypto? Join us as we explore everything you need to know about BOME.
Before we get started, remember that you can easily manage BOME using Trust Wallet.
What is BOME?
Book of Meme, or BOME, is a project set to revolutionize Web3 meme culture. BOME merges memes, decentralized storage solutions, and speculative crypto trading. This project aims to capture the dynamic essence of meme culture in a comprehensive digital collection, the Book of Meme.
BOME Presale
In March of 2024, Darkfarms, a well-known crypto artist, initiated a 24-hour presale for BOME. Instead of setting a fixed price for the presale, participants were invited to contribute Solana (SOL) to a designated address. The allocation of tokens was determined by the proportion of SOL each participant contributed.
The presale was a massive success, topping over 10,000 SOL, over $2 million at the current price. Thus, BOME launched at a price of $0.0000496. In just two days, the Book of Meme crypto soared to a price of $0.02805 to secure a market cap of over $1 billion.
BOME Utility
Cryptocurrencies that fall into the typical "meme coin" category, often rely solely on hype and community sentiment. BOME, however, seeks to establish a more comprehensive ecosystem centered around memes.
Here's a breakdown of its core components:
Updatable Decentralized Electronic Magazine
BOME envisions a platform that acts as a permanent repository for memes. By leveraging blockchain technology BOME could create a verifiable and immutable record of meme history. The decentralized magazine would be intricately connected with metadata to the BOME meme coin. Additionally, the book could contain numerous links to images stored on various decentralized platforms like IPFS, Arweave, and potentially directly on the blockchain itself (on-chain). This could potentially safeguard memes from disappearing due to platform changes or internet amnesia.
DF1 Meme Enhancer
The DF1 Meme Enhancer is a cutting-edge tool bringing the iconic DF1 effect to your memes and drawings. Recalling the digital frontier of 1994, this tool breathes life into your creations with retro-inspired pixel noise and glitch crayons.
A Decentralized Meme Social Network App
Imagine a platform specifically designed for creating and sharing memes. BOME aspires to offer such a platform, empowering users to contribute to the ever-growing meme landscape. This could potentially foster a more interactive and community-driven meme creation experience.
CC0 Meme ClipArt Gallery
Copyright issues can often hinder the free flow of memes. BOME aims to address this by offering a library of memes licensed under CC0, also known as "Creative Commons Zero." This designation allows users to freely share, modify, and distribute these memes without copyright restrictions.
BOME Tokenomics
BOME's tokenomics, the structure behind the distribution and use of its BOME token, play a crucial role in understanding the project's goals and potential value. Here's a breakdown of the key points:
Total Supply: 69,000,000,420 BOME.
Bome Token Distribution
BOME's initial token distribution allocates a portion of the tokens to different purposes:
Presale (50%): Half of the tokens went to a presale event, letting early investors acquire BOME tokens before they became publicly available.
Liquidity Pools (30%): Designated for liquidity pools, 30% of the allocation ensures smooth trading on cryptocurrency exchanges by providing readily available BOME tokens for buying and selling.
Community Fund (20%): The remaining 20% is allocated to a community fund. This fund could serve various purposes, such as funding marketing initiatives, supporting community development programs, or rewarding project contributors.
Keep in mind that BOME is a very new project. The details surrounding tokenomics, especially regarding the total supply and exact allocation percentages, might be subject to change. It's essential to rely on official BOME resources for the most accurate and current information.
What Caused the Initial Price Surge of BOME?
Some analysts believe that the meme coin’s popularity is largely attributed to its controversial presale model. The presale model of BOME crypto required participants to send funds to a wallet address in exchange for a weighted distribution of tokens once the token went live.
Another reason behind the surge could also include excitement and fear of missing out (FOMO). Meme coins have taken the crypto market by storm recently, creating hype around the meme coin crypto category. Many investors who missed other opportunities to profit from the likes of Dogwifhat (WIF) would not have wanted to miss another opportunity. These factors likely contributed to the successful presale and recent surge of BOME.
Lastly, there’s no doubt that BOME listing on prominent exchanges would have contributed to the surge. These listings would have likely boosted credibility and investor confidence. With its unprecedented surge and widespread attention, BOME has firmly established itself as a key player to keep an eye on.
How to Deposit BOME to Your Trust Wallet Address
You can deposit BOME crypto from another wallet address or from a centralized exchange. Here’s how:
Select “Receive” from the home screen.
Search for “BOME” and select it.
From here you have two options. You can either:
Copy your deposit address and use that on your exchange account or other wallet to send funds to.
Use the “Deposit from exchange” option to deposit crypto seamlessly from your exchange account.
Exploring New Meme Coins
New meme coins draw a lot of attention due to their viral nature and potential for quick gains. However, it’s important to approach them with caution. Meme coins often lack real-world utility and their value is heavily influenced by social media trends and hype. This makes them prone to sudden and significant price fluctuations.
Before jumping into any new meme coins, best practice includes thorough research and understanding of the tokenomics, technology, and potential risks behind them.
Remember that in addition to BOME, Trust Wallet lets you manage and interact with 10M+ crypto assets across 100+ blockchains. Download the latest version of Trust Wallet today.
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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.