Market
What’s Next for BOOK OF MEME (BOME) Price?
BOOK OF MEME (BOME) price is observed as macro bullishness, but it is facing bearishness on the micro-scale.
Combined with the declining correlation it shares with Bitcoin, the meme coin might witness a halt in the rise.
BOOK of MEME Investors Are Still Optimistic
BOME price could enjoy the benefit it is gaining from the investors since they are still hoping for a rally. This is evident in the asset’s funding rate, which has been consistently positive for weeks now.
The funding rate is a periodic payment exchanged between traders in a futures contract to keep the contract price in line with the spot price. It reflects the difference between the perpetual contract’s price and the underlying asset’s price, incentivizing traders to maintain price equilibrium.
A positive funding rate signifies the dominance of long contracts in the market. Negative rates, on the other hand, suggest that short contracts are much more dominant. In the case of BOME, the former counters the bearishness of the broader market.
This bearishness arises from the declining correlation between BOME and the biggest crypto asset in the world, Bitcoin. BTC has had a good run the last couple of days, crossing $70,000 over the past 48 hours.
Read More: How to Buy Book Of Meme (BOME) And Everything Else To Know
Thus, breaking away from Bitcoin would mean that the meme coin may not follow the path set by BTC. This may negatively impact BOME’s price since Bitcoin is on the rise right now.
BOME Price Prediction: Consolidation Ahead
BOME price trading at $0.013 is noting mixed signals arising from investors and the market. This would result in consolidation for the altcoin, keeping it hovering between $0.014 and $0.012.
This range has been tested as both support and resistance multiple times in the past, and the same could be repeated. Should the ascending channel remain intact, this consolidation could lead to a breakout, sending BOME above $0.016.
Read More: Book of Meme (BOME) Price Prediction 2024/2025/2030
However, if the support of $0.012 is lost, the BOME price could slip to $0.011. If the meme coin falls below this support level, too, the neutral-bullish thesis will be invalidated.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Will Bulls Push It Higher?
Ethereum price started a fresh surge above the $2,650 resistance. ETH is up over 10% and might aim for a move above the $2,850 resistance.
- Ethereum started a fresh surge above the $2,650 resistance zone.
- The price is trading above $2,700 and the 100-hourly Simple Moving Average.
- There is a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to rise if it settles above $2,850 and $2,880.
Ethereum Price Extends Surge
Ethereum price started a fresh increase above the $2,550 resistance like Bitcoin. ETH was able to climb above the $2,550 and $2,650 resistance levels to move into a positive zone.
It even surged above the $2,720 level in the past few sessions, beating BTC. It is up over 10% and there was a move above $2,800. A high is formed at $2,848 and the price is showing signs of more upsides. It is holding gains above the 23.6% Fib retracement level of the upward move from the $2,357 swing low to the $2,848 high.
Ethereum price is now trading above $2,700 and the 100-hourly Simple Moving Average. There is also a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD.
On the upside, the price seems to be facing hurdles near the $2,850 level. The first major resistance is near the $2,880 level. The main resistance is now forming near $2,950. A clear move above the $2,950 resistance might send the price toward the $3,000 resistance.
An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,250 resistance zone.
Are Dips Supported In ETH?
If Ethereum fails to clear the $2,850 resistance, it could start a downside correction. Initial support on the downside is near the $2,800 level. The first major support sits near the $2,720 zone and the trend line.
A clear move below the $2,720 support might push the price toward $2,650. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,850
Major Resistance Level – $2,720
Market
Bitcoin Price Pushes Rally Further: Bulls in Full Force
Bitcoin price is gaining pace above $74,000. BTC is trading in a bullish zone and might rise further above the $76,500 resistance zone.
- Bitcoin started a fresh surge above the $73,500 zone.
- The price is trading above $73,000 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support at $75,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to rise above the $76,000 resistance zone.
Bitcoin Price Extends Rally
Bitcoin price started a fresh surge above the $73,500 level. BTC even cleared the $75,000 resistance and traded to a new all-time high. It posted a high at $76,457 and is currently consolidating gains.
There was a minor decline below the $76,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $72,747 swing low to the $76,457 high. However, the price is still in a positive zone above the $73,500 level.
Bitcoin price is now trading above $74,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $75,250 on the hourly chart of the BTC/USD pair.
On the upside, the price could face resistance near the $75,800 level. The first key resistance is near the $76,000 level. A clear move above the $76,000 resistance might send the price higher. The next key resistance could be $76,500.
A close above the $76,500 resistance might initiate more gains. In the stated case, the price could rise and test the $78,000 resistance level. Any more gains might send the price toward the $78,800 resistance level.
Are Dips Supported In BTC?
If Bitcoin fails to rise above the $76,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $75,250 level and the trend line.
The first major support is near the $74,150 level or the 61.8% Fib retracement level of the upward move from the $72,747 swing low to the $76,457 high. The next support is now near the $73,500 zone. Any more losses might send the price toward the $72,000 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $75,250, followed by $74,150.
Major Resistance Levels – $76,000, and $76,500.
Market
Best Solana Airdrops for Early Crypto Access
As Bitcoin hauls altcoins further north in the wave of US election euphoria, crypto airdrops provide investors with low-bar entries into early-stage projects without any initial investment.
DeFi and airdrops researcher Jussy.Sol highlighted several crypto airdrops offering investment opportunities.
Switchboard: Plug into the On-Chain Economy
Switchboard airdrop is potentially confirmed, with orbs available for earning when participants supply liquidity to any partner project or complete quests. They have also recently announced a partnership program with Monad, which could culminate in a commendable airdrop.
“If you missed $1,500 — $3,000 drop from PYTH, you still have a chance to get SWITCH. To collect ORBs, use their partner protocols (RainFi, Save, Dumpyfun, Marginfi, All Domains, Drift), and stay active in Discord,” the researcher noted.
Read more: What are Crypto Airdrops?
Indeed, participation criteria include participating in community tasks and engaging with supported protocols to increase orbs, ultimately improving one’s chances in the airdrop. The Solana Guides website notes Flexlend, AllDomains, Solend, Marginfi, and Kamino as named protocols to engage. Of note, however, is that the Switchboard airdrop remains “severely underfarmed.”
Stabble: Revolutionizing Liquidity
Advertising as Solana’s first frictionless liquidity and trading layer, Stabble reserved a significant allocation for its STB airdrop. To be eligible to receive the airdrop, interested participants must be active users of the protocol, among other criteria.
Participants can earn points by executing swaps, depositing liquidity, or creating and managing pools. The more points one earns, the larger their airdrop, with the first season starting with the mainnet launch and ending with the TGE. Meanwhile, the project introduced methods to boost points earned.
“Users will need to spend significant time on the Stabble platform, have a strong understanding of DeFi, and be willing to provide in-depth feedback on features, UI, and UX — offering suggestions for improvements as engaged users. Feedback will be delivered in a structured manner, with feedback forms and accompanying loom/screen recordings where required,” Stabble detailed.
Kamino Finance: Concentrated Liquidity Layer
Another crypto airdrop on Solana is Kamino Finance. It offers lending and borrowing while providing access to a whole slew of vaults, effectively delivering multiple DeFi strategies.
Kamino has publicly confirmed its rumored airdrops and tokens. The simple premise is that users earn points by using Kamino products. As soon as season three of the airdrop goes live, the points will be converted into KMNO tokens.
“In Season 3, earn KMNO by using their platform — Multiply, Vaults, Lending, Borrowing, Long/Short,” said Jussy.Sol.
For reference, Season 2 distributed 3.5% of Kamino’s total token supply, 350 million KMNO tokens, which were worth around $13.5 million over four months. Season 3 started on August 1. The estimated total points at the end of Season 3 would be around 674 billion, representing a 36.1% increase compared to Season 2.
Dawn: Delivering Internet Service
Through the Dawn protocol and hardware, property owners or residents can buy and sell Internet capacity in the area around them. While the project empowers users to operate as their own Internet provider, Dawn Airdrop remains unconfirmed, according to airdrops.io.
Nevertheless, users receive free reward points by installing DAWN’s validator extension and participating as a validator node. Participants must also refer 30 to 40 users and follow DAWN on X, Discord, and Telegram. Earned points can later be converted to an airdrop.
“In such Airdrops, those who have referrals win that’s why Dawn reached 1M users, so fast,” Jussy.Sol added.
Cube: Providing Next-Gen Multi-Chain Experience
Cube is committed to actively participating in the development of decentralized cross-chain protocols and Web 3.0 infrastructure. According to Jussy.Sol, Cube plans to launch both its token and the mainnet of the intent network in the second quarter of 2025.
Nevertheless, the researcher observes that the testnet task will debut imminently. Based on this, they urge users to hold their deposits and get “Loot Boxes” every Sunday. Moreover, participants can earn points by opening these boxes, with the points being directly proportional to the rewards. Meanwhile, others like @Airdrop Guard on X say Cube is in line to win in the Solana ecosystem.
Solayer: Building Restaking Network Natively On Solana
Among the potential airdrops, Solayer is running a rewards system. While they do not have their own token yet, new registrations and deposits position users for the airdrop once the token debuts.
Meanwhile, Solayer has also rolled out its mainnet, allowing users to earn additional rewards. Participation requires meeting specific criteria, including depositing 10 native SOL tokens, joining epoch, referring depositors, and using all invite codes, among other requirements.
“Deposit amount, deposit duration, higher multipliers for native SOL deposits,” the researcher noted.
Flash Trade: Trading and Earning
Flash Trade presented its FAF token, which is expected to debut in the fourth quarter (Q4). Meanwhile, the Flash Trade airdrop is confirmed for Flash Trade NFT holders, although it remains unclear how much they will receive. Meanwhile, experts urge airdrop farmers to continue trading, open several positions, and deposit in Liquidity Pools.
The Vault: Aligning Financial Stakes with Social Stakes
Featuring among the confirmed airdrops, The Vault does not have its own token, but one could launch soon, offering an airdrop to users who collect points. This means users who collect points will be able to redeem their governance token once the token launches.
Read more: Best Upcoming Airdrops in 2024
The Vault airdrop was moved to 2025, extending the runway for interested airdrop farmers. Participation requirements include staking SOL or providing liquidity to the Saber SOL-vSOL pool and staking the LP tokens in the quarry to earn points.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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