The meme coin market is rallying – and one token stands out from the rest.
Book of Meme (BOME) has pumped 15% in the past day, leaving crypto traders wondering how high it could go.
But as impressive as BOME’s run is, another coin called Pepe Unchained (PEPU) is also gaining traction – and could be preparing for an even bigger breakout.
BOME Rallies After Surge In Trading Volume & Open Interest
BOME is on a roll right now.
The token is trading at $0.0096, a substantial rebound after facing bearish pressure earlier in the week.
BOME has clawed its way back to within just 17% of this week’s local high – a testament to its resilience.
Its spot trading volumes have also surged 38% to $356 million, pushing its market cap back above $660 million.
Ultimately, its performance has beaten all other elite meme coins in the past day.
Crypto Twitter is buzzing about Book of Meme’s rally.
Influential trader @RoccobullboTTom declared it the “hottest meme coin” of this meme season.
He posted a price chart that showed BOME might be on the verge of breaking out of a descending wedge pattern on the daily chart.
With open interest on the rise, it seems other traders are also betting big on Book of Meme rallying again.
Can Book of Meme Keep Rising & Reach New Highs?
So, where could BOME go from here?
That’s the question on every holder’s mind right now.
Interestingly, there doesn’t seem to be a clear fundamental catalyst behind BOME’s recent surge.
The broader meme coin market is clearly bullish, but there haven’t been any significant news events specific to Book of Meme.
This suggests technical factors are behind the momentum.
A closer look at the 4-hour chart reveals that BOME has been respecting an upward trendline, bouncing off it four times already.
Plus, the token found support at the 0.5 Fibonacci retracement level – which it used as a springboard for its latest rally.
If BOME keeps following this script, the 1.272 Fibonacci level, which coincides with the next touch of the upward trendline, is a logical target.
This would take the token to around $0.0122 – a 26% gain from current levels.
It would also put BOME at its highest price since June 7th.
All in all, with plenty of room to run, Book of Meme might just be a hot topic for the foreseeable future.
Layer-2 Meme Coin Pepe Unchained Offers 109% Staking Rewards & Explosive Upside Potential
While BOME is grabbing headlines, another meme coin with bullish prospects is Pepe Unchained.
Pepe Unchained is taking the meme coin concept to the next level by building its own Layer-2 blockchain – Pepe Chain.
The Pepe Chain will address Ethereum’s many limitations.
That means trades will be up to 100 times faster, fees will be much lower, and instant bridging between Ethereum and Pepe Chain will be possible.
This could make PEPU a meme coin with actual real-world utility.
Pepe Unchained also offers eye-catching staking rewards for PEPU holders – estimated at 109% per year.
That means an investor could stake 100,000 PEPU tokens (worth $1,060) and, after one year, have 209,000 PEPU.
Those tokens would be worth $2,215 – and potentially even more if PEPU’s price shoots up after hitting the open market.
Unsurprisingly, Pepe Unchained’s presale has been a hit.
It has now raised over $20.5 million, making it one of 2024’s hottest crypto presales.
Early investors can buy PEPU tokens during the presale for just $0.0106 each for a limited time.
Considering all this, can Pepe Unchained explode like Book of Meme?
While BOME is benefiting from bullish technicals and hype, it lacks the utility of PEPU.
Plus, Pepe Unchained’s online following is growing fast, as evidenced by it reaching over 51,000 Twitter followers.
It’s a coin with colossal potential – which is why many have added it to their watchlist.
