BOOK OF MEME (BOME): a token that has joined the ranks of the leading memcoins

In 2023, Solana underwent a memcoin boom that began with the sensational BONK token, which brought its early investors thousands of percent returns. After the success of BONK and several others, memcoins on Solana started appearing at an incredible rate, and now, they are in the thousands.

What is BOOK OF MEME?

BOOK OF MEME or BOME is a Solana-based memcoin that became popular in 2023. The team tried to replicate the success of the most famous token in the ecosystem, BONK, but expanded the functions of its digital asset.

Like any token on Solana, BOOK OF MEME was created based on the SPL standard and exists only on this network. Behind its creation is the mysterious DarkFarms of Pepecoin, a company that set out to combine meme culture with decentralized blockchain technology.

At first glance, it may seem that the BOOK OF MEME project was created by inexperienced programmers, but that's not entirely true: the site's style, as well as everything else, was deliberately created.

As the name suggests, the project team set out to create a kind of meme library to be immortalized on the blockchain, and the most used peer-to-peer distributed file system on the blockchain (InterPlanetary File System or IPFS) was chosen as the main data store.

BOOK OF MEME even has its small ecosystem consisting of a few simple tools:

DF1 effect generator. Any user can upload their meme and give it the iconic DF1 effect, popular in the 90s, which will add familiar noises and glitches to the picture;
CC0 open source meme clipart gallery;
a gallery of unreleased memes;
a gaming sandbox where the team will add meme-based games in the future.

Also, unlike many other meme tokens, BOME tokens are endowed with functionality: their owners get voting rights to manage the BOOK OF MEME ecosystem, and the tokens play a key role in their community.

The maximum number of BOME tokens is 70 billion, already circulating on the market. No new tokens will be issued, and the supply will remain limited.

The BOME token itself appeared on the market in March 2024 and reached its peak (ATH) almost immediately after listing on exchanges, but since then, the price of memcoin has almost halved (as of May 2024).

What are the prospects for BOME?

One of the main factors driving the growth of memcoins like BOME was the global trend of memcoins that flooded the crypto market. However, the BOME token has gained a high position in the crypto market in a reasonably short time despite being far from the first in the Solana ecosystem.

For the most part, the BOOK OF MEME token owes its success to the Influencers who promoted it for their share of rewards, but this memcoin has unique features, which is how it caught the attention of the audience.

Here are a few things that may confuse those interested in the BOME token, but in reality, they were intended that way from the beginning:

The official website doesn't even have a proper domain, but it can still be easily found through a search engine;
The site is hastily made and doesn't even have a design (the entire BOOK OF MEME site is just one page with a small amount of text). The BOOK OF MEME site looks like what all web pages looked like in the early days of the internet. However, as it was said before, this was done on purpose;
The BOOK OF MEME project has no specific roadmap, but the team has shared quite extensive plans for the development of the project, including the launch on the Bitcoin network (we are probably talking about ordinals or so-called "inscriptions" on Bitcoin);
Little information about the creator of BOOK OF MEME, but this is already the order of the day for memcoins.

Nevertheless, the project has an active Twitter account with more than 150 thousand followers, which is almost crucial for tokens of this kind. This means that the team behind BOOK OF MEME has no plans to abandon the project.

Even though BOME is essentially just a memcoin with a typical feature set, the token is one of the top 100 cryptocurrencies according to CoinMarketCap. As of May 2024, BOOK OF MEME ranks 90th in terms of capitalization, which exceeds $950 million, and 7th among memcoins, second only to the most famous tokens, and this even though at the time of writing the article, the token has only existed for a couple of months (probably, the so-called "Binance factor" could play a role here, because of which tokens get large capitalization immediately after listing).

In other words, BOME is the second leading memcoin on Solana after BONK. This indicates the significant role memes play not only in popular culture but even in the crypto market. BOME token has surpassed in capitalization such projects as Mina, Gnosis, Decentraland and AIOZ Network, which have a technological foundation and a somewhat developed ecosystem.

Experts believe that memcoins will be one of the central narratives of the crypto market shortly, and this directly reflects the influence of social media and social marketing on users who are increasingly interested in cryptocurrencies. It is likely that if memcoins continue to grow along with other crypto market assets, BOME has a good chance of securing its place and remaining among the top ten assets in its segment.

Finally, it is worth adding that investments in memcoins are associated with high risks due to their significant volatility: the exchange rate of such tokens can change by tens of percent in minutes.