Should you invest in Meme coins again?

Book of Meme (BOME) recently surged by 20% to $0.0173 before retracing to $0.0099, highlighting significant bullish signs in the meme coin sector. With a robust market cap of $684 million and trading volume exceeding $168 million, coupled with favorable technical indicators, BOME shows potential for a recovery. Will BOME regain its upward momentum?

Predicting the future price of Book Of Meme

Book of Meme (BOME) has made a significant impact in the cryptocurrency market, boasting a market capitalization of $684 million and a 24-hour trading volume exceeding $168 million.

As of June 28, BOME is trading at $0.0099, marking a 4.40% decrease over the past 24 hours following a notable 20% surge. Despite this correction, analysis of the 4-hour timeframe chart indicates promising signs of a potential recovery:

• BOME is currently priced at $0.0099 with a market cap of $684 million.
• It experienced a 4.40% decline after a 20% surge in the past day.
• The 4-hour chart suggests a possible rebound from the support level around $0.00956.
• Candlestick patterns hint at weakening selling pressure.
• Both the 50-period Exponential Moving Average (EMA) and Relative Strength Index (RSI) indicate a bullish sentiment.
• Immediate resistance levels are identified at $0.0102, $0.0109, and $0.0117.
• Should the support at $0.00956 fail, potential lower support levels include $0.0094, $0.0089, and $0.0083.

Currently, BOME appears to be consolidating near the $0.00956 support level, coinciding with the lower boundary of an upward channel. This setup suggests that BOME might be preparing for a reversal following its recent dip.

The presence of spinning top candles, characterized by long wicks and small bodies, supports the idea of diminishing selling pressure in the Book of Meme (BOME) market. This pattern often indicates a potential shift in momentum, with buyers possibly preparing to enter, particularly within the existing upward channel.

Furthermore, bullish signals from both the 50-day Exponential Moving Average (EMA) and the Relative Strength Index (RSI) contribute to the positive outlook. The 50 EMA, positioned below the current price, typically suggests an uptrend, while an RSI above 50 indicates bullish sentiment among traders.

Given strong support near $0.00956 and increasing buying interest, BOME appears poised to resume its upward movement within its established trading channel. Breaking above the immediate resistance level at $0.0102 could signify further upward momentum for the coin.

PlayDoge presale approaching conclusion

As the meme coin market progresses, a new entrant called PlayDoge (PLAY) is gaining traction on the Ethereum network. The PlayDoge project has raised $5,007,470 in its presale, nearing its target of $5,493,903. Offering a maximum supply of 9.4 billion PLAY tokens at a presale price of $0.00511 per token, PlayDoge presents a compelling prospect for early investors.