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Meme coins are back in the spotlight, and Book of Meme (BOME) is leading the way.
This frog-themed token has been on a tear lately, with its price climbing above $0.011.
But it’s not the only meme coin that’s performing well.
Pepe Unchained (PEPU) is also drawing praise, having raised over $6 million in its limited-time presale event.
Book of Meme Price Surges After Key Trendline Breakout
Book of Meme is on a roll right now.
The coin has surged to $0.0111, marking its highest price since mid-June.
That’s a 10% jump in the past 24 hours – and a whopping 43% rise from Thursday’s local low.
However, BOME’s rally isn’t just about its price action.
The token is also making moves in the rankings, becoming the third most-traded meme coin in the world.
It’s even flipped dogwifhat (WIF) in terms of daily trading volume.
And BOME is now at the top of CoinMarketCap’s gainers list, beating out rivals like Mog Coin (MOG) and XRP (XRP).
So, what’s the reason for all this bullishness?
It seems to be down to BOME breaking above a key trendline on the daily chart.
This trendline has been in play since BOME’s all-time high in March, so by breaking above it, the token has signaled to traders that it might be about to start a new leg up.
Meme Coin Market Sees Broad Sell-Off After Bitcoin Turns Bearish
Book of Meme’s rise is even more impressive when you look at the bigger meme coin picture.
It’s swimming against the tide, being the only major meme coin in the green over the last 24 hours.
The rest of the meme coin market is seeing red.
DOGE and PEPE have both stumbled, dropping over 3%.
BONK has taken a harder hit, down by 6%.
And WIF is the worst affected – sliding more than 8% in the past 24 hours.
All of this bearishness has knocked the total meme coin market cap below the $50 billion mark.
The main reason for this broad sell-off is Bitcoin’s recent price action.
Bitcoin briefly tapped $70,000 yesterday, only to quickly retreat.
The coin has fallen to $66,430 – down over 5% since yesterday.
And when Bitcoin experiences a drop like this, meme coins tend to follow suit.
So, overall, Book of Meme is defying the current market sentiment – and holders are eager to see just how long the token’s rally can last.
Pepe Unchained Presale Gathers Pace as Investors Buzz About Layer-2 Ambitions
Alongside Book of Meme, Pepe Unchained is performing well despite the market’s bearishness.
Its presale has just passed the $6 million mark – and shows no signs of slowing down.
PEPU isn’t your run-of-the-mill meme coin.
It’s aiming to disrupt the meme coin ecosystem by building a new Layer-2 network on top of Ethereum.
The goal is to address some of the main pain points of meme coin investors.
Pepe Unchained’s blockchain promises transactions up to 100 times faster than Ethereum and much lower fees.
It’s essentially creating an “express lane” for traders.
Beyond speed and cost savings, Pepe Unchained offers attractive staking rewards, with yields as high as 302% per year.
While this yield is exciting, it’ll decrease as investors stake more PEPU tokens – rewarding the earliest backers.
To boost credibility, Pepe Unchained has also been audited by Coinsult and SolidProof.
This is a rare move when it comes to meme coins.
And by undergoing two audits, the development team is sending a signal that they’re committed to transparency.
The combination of all these factors has prompted massive buzz around the project.
Crypto influencer Darryl Boo even uploaded a video about Pepe Unchained that’s been viewed over 7,400 times.
If investors continue piling into Pepe Unchained’s presale, the project’s momentum could continue to build.
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